Aug
2017
Situated on the lagoon of the Mhlatuze River the town of Richard’s Bay was laid-out in 1954 and proclaimed in 1969. The town was named after Sir Frederick Richards, Commodore of the Cape.
Add a tourist destination the town has loads to offer like the white pearly beaches and the warm Indian Ocean, perfect for sun lovers and then the game reserves around the town.
It is thus clear to ascertain that the town is well-established. Not only is the town well-established but it is one of the fastest growing cities alongside Rustenburg in North West.
As one of the largest deep water harbours it has a capacity to carry 91 million tons of cargo per year. This is made up of iron ore, titanium, zircon and coal.
Even with the unemployment figures at around 40%, the property market remains a lucrative investment market.
The income scale is of course from low income to executive income levels thus the property market caters accordingly.
With a number of its own suburbs there is a variety of homes and property usage to choose from consisting of freestanding homes, townhouses, apartments and commercial property.
The tourist or second holiday home market is just as competitive as the seasonal angling attracts scores of families to this once tranquil fishing village type town.
The architecture of homes range from the conventional to the modern or current fashion, that the market predicts, adding to the general property values in an upward gradient. The prestigious suburbs of course yield some spectacular architectural homes both in the freestanding market as well as in the newly formed prestigious estates.
Richard’s Bay has a number of schools in the various suburbs catering for educational requirements of residents like Richard’s Bay Christian School, Richardsbaai Hoerskool and Richardia Primary School.
The malls that cater for entertainment and retail needs are Meerensee Mall and Boardwalk Inkwazi Shopping Centre.
