A two-bedroom beachfront apartment in Margate, KwaZulu-Natal, has been placed on the market for R750,000, offering prospective buyers a furnished property overlooking the Indian Ocean.
The 87-square-metre apartment was listed on 12 November through Prime Property. Its asking price is 16.7% below the average sectional title property price in Margate.
The apartment includes two bedrooms, one bathroom and one parking bay. It is being sold fully furnished and can accommodate up to five people, depending on how the sleeping arrangements are configured.
Balcony Offers Views of Annual Whale Migration
One of the property’s listed features is a balcony overlooking the sea, described in the listing as a whale-watching balcony.
The apartment offers views of the coastline where Southern Right and Humpback whales migrate between June and December each year.
The balcony also provides additional space for entertaining, while the building has shared facilities that include a laundry area, braai facilities and a children’s play area.
Monthly Rates and Levies
In addition to the R750,000 purchase price, the apartment carries monthly municipal rates of R950 and levies of R3,800.
Its location places it within walking distance of Margate Beach and nearby restaurants and entertainment venues, including the beachfront Wimpy, Grove Restaurant and Beach Bar.
A separate three-bedroom apartment on Finnis Road has also been listed for sale through RE/MAX at R1.2 million.
Margate Property Prices Continue to Rise
Property prices in Margate have increased over recent years, with the town’s average sale price rising by 10.6% over the past two years.
The average property price reached R995,000 this year, reflecting the continued demand for homes in the KwaZulu-Natal South Coast destination.
Margate is also close to four Blue Flag beaches: Margate, Ramsgate, Hibberdene and Marina.
Tourism Supports Demand for Holiday Properties
Margate has a permanent population of approximately 71,760 residents, although the number of people in the town increases during the holiday season as visitors arrive from across South Africa.
The town’s tourism industry has attracted property investors seeking opportunities in the holiday accommodation market.
December is typically a peak period for bookings. Property hosts on Finnis Road can reportedly charge up to R3,000 per night during the busy season.
