SUMMIT Green, a new upmarket development situated in the East London suburb of Beacon Bay, is perfect for buyers looking for a coastal lifestyle in a secure complex, says a leading Beacon Bay estate agency.
Beacon Bay is situated between the Nahoon and the Quinera rivers and the estate is centrally located near schools and shops, about 10 minutes from the hub of East London's city centre.
The area is considered by many to be one of the most picturesque in the Eastern Cape, boasting pristine white beaches, sand dunes and lagoons.
Beacon Bay is often described as the "Garden Town" of the Amatola region, because the streets in the residential area are lined with trees.
"The area is beautiful and its proximity to the city centre makes it a prime position for the new residential development," says broker/owner of Remax Border Antoinette Clark.
Aside from the fact that residents can enjoy all the lifestyle benefits of living in a coastal region, says Clark, they are also conveniently situated with regard to a number of amenities such as shopping malls, office parks and entertainment facilities.
"This all adds to the allure of the area, which has contributed to it becoming one of East London's most highly sought-after residential and holiday destinations," says Clark.
The development will feature nine upmarket duplex sectional title homes.
The first phase of the complex has already been built and nearing completion and consists of four units that are currently on the market for R1.395-million. Each unit is approximately 152m² and offers three bedrooms, two bathrooms and an open-plan lounge and kitchen area, two automated garages and a built-in braai. Phase two will consist of the remaining five units.
"The development caters perfectly to young up and coming executives looking for security as well as older generation buyers who are looking at retiring or just downscaling," says Clark.
Remax Southern Africa chief executive Adrian Goslett says that properties situated in coastal regions generally offer an excellent return on investment over the long term. This is supported by data from Lightstone, a property statistics and information provider. According to their statistics, property prices in Beacon Bay were relatively unaffected by the recession and have seen a gradual but steady increase over the last 10 years.
"Current property prices in the area are higher than those seen during the boom period.
"Given that the area is highly sought-after and offers residents a great lifestyle, property prices in the area are likely to continue increasing," says Goslett.