According to Nicholas Stopforth: Managing Director at Amdec, these are the top trends in South Africa’s property sector.
Buyers are prioritising security features when investing in property.
The future of development. The ‘live, work and play’ concept offered by mixed-use developments was highly sought after in 2018. Smart cities like Melrose Arch in Johannesburg are incorporating electric car charging stations, precinct-wide WIFI, fibre to the home, enhanced 24-hour security, license plate recognition cameras and in-home assistance.
Mimicking international trends
Local property developers are garnering inspiration globally to put themselves in the same league. Harbour Arch on Cape Town’s foreshore is modelled on the universal trend for walkable precincts such as Darling Harbour in Sydney and Canary Wharf in London.
International investors set sights on SA
South Africa offers significantly lower prices for initial purchases compared to similar developments around the world, attracting investors who are looking to expand their offshore property portfolios.
Sustainability is key
Globally, developers are under pressure to drastically minimise water usage and incorporate eco-friendly building methods and technologies. Think refuse recycling, water-saving devices, low-energy LED lighting, grey water and rainwater harvesting, dual-flush plumbing systems, water storage facilities and on-site desalination.
Both local and international investors who plan to rent out their properties are calling for pre-furnished apartments in high-end developments across the country. Buyers form consortiums to invest in buy-to-let properties, looking for a ‘hassle-free’ purchase experience.
Buyers want to live, work and socialise in the same place where everything they need is within easy walking distance from home.
CBD investment boom
Cape Town’s CBD, with its world-class restaurants, beautiful architecture and spectacular views is seeing strong demand especially from young investors looking for a safe, convenient, urban lifestyle.
Millennials are investing
Millennials are opting for inner-city living, choosing apartments over free-standing homes; notably developments with a range of added features designed for modern living.
While trends are leaning towards inner-city living, buyers still want to be surrounded by green spaces, driving developers to incorporate nature into building design. Think parks, tree-lined streets and pedestrianised walkways, rooftop gardens and urban farming initiatives.