South African homebuyers are trading size for security and they're actively seeking out '15-minute neighbourhoods' with nearby access to work, schools, entertainment, and shops.
South African homebuyers are looking past large suburban properties for smaller and safer apartments.
The pandemic-induced hybrid work model coupled with ever-increasing petrol prices are pushing homebuyers to 15-minute neighbourhoods. The global Covid-19 pandemic has changed how and where people work and live. South Africa's residential property sectorThe semigration trend, with coastal towns attracting inland buyers seeking a better work-life balance, is expected to continue. And while, the hybrid work model is likely to see sustained interest in nearby suburbs.
"All our existing research and observations from the market support the fact that, in general, people will trade size for security and location every day of the week, especially if they can enjoy greater recreational benefits within close proximity of where they sleep," says Stefan Botha, director of Rainmaker Marketing, which specialises in South Africa's property sector.