By Carel Kleynhans, Director at Ithemba Property Development
The inner city has become an increasingly popular residential choice among various groups, including young families, creative professionals, and entrepreneurs.
Let’s take a look at the top trends behind the resurgence of inner city living:
1. It’s all about community
One of the top trends in urban rejuvenation at present is the creation of co-living spaces, with combinations of residential, retail and recreational spaces. This means you can live, work and play in the same neighbourhood.
Many do not realise that a brand-new apartment in the inner city could actually be a more affordable option than renting far away and paying for transport. Also, newly developed buildings in the city often incorporate the latest technologies to help residents save hundreds of rands per month on water and electricity.
Reputable property and building managers employ state-of-the-art security measures and regular maintenance crews to ensure that their properties are clean and safe, putting an end to the old stereotype of derelict slums.
4. Access to everything
A city residence is generally centrally located in close proximity to major attractions, transport routes, schools, and shopping outlets, making it easy to manage your lifestyle needs and access everything you need without having to travel far.
5. Less commuting time
For many, moving to the city means cutting their commute right down or even eliminating it completely, giving you more time back to spend where it matters.
6. Additional value
In addition to reasonable rentals, investors in inner city residential properties have recognised the demand for always-on connectivity. Many offer extras like affordable high-speed internet, backup supply solutions to safeguard against load shedding, as well as loyalty and referral schemes in place that incentivise long-term rentals and on-time payment.
7. Quality: Brand new apartment buildings
Urban renovations and developments have become a popular investment vehicle for property entrepreneurs, who are bringing back those long-absent cranes and developing brand new apartment blocks with modern finishes and appliances.
As mentioned earlier, many new developments in the city today include a number of recreational facilities, such as parks, children’s playgrounds, gyms, and retail outlets. And where such facilities might not necessarily be located on the property, there is an array of options nearby.
9. The city aesthetic
There’s a reason people have always been attracted to the bright city lights. There is an infectious energy about that never-ending bustle that tends to uplift and inspire – it’s no wonder that many of the people who choose to make the inner city their home happen to be creative types.
10. Compact and convenient living spaces
One of the biggest trends to take the world by storm in recent years has been the “compact home” movement, inspired by the general increase in environmental awareness and a desire to combine conscious living and convenience. A compact home in the heart of the city is easy to clean and maintain, and lets you lock up and go as it suits you.