Many of us are reassessing and adapting the way we live, work and play and it is no surprise these social changes are paving the way for new home and workplace trends.
Micro apartments have become a hot trend both internationally and here, with living spaces needing to be more flexible and convenient. A 2018 report from IP Global revealed that, in Europe, there was an 85% increase in transaction for micro-apartments from the previous year.
The popularity of micro-apartments has been driven by affordability, lower running costs, and eco-friendly elements with the report stating that they appeal to singles and young individuals and are typically situated in central nodes where public transport, employment and education is easily accessible.
Leading cities across the world, such as London and New York, have been at the forefront of micro-living trends and with the upcoming online launch of Citizen Hyde Park – one of the first micro-apartment buildings in South Africa, this trend is entering the local property market.
Picture: Citizen Hyde Park
This trend is changing the way we live and creating a dynamic way of life for on-the-go individuals, says Farrel Osher,
Picture: Citizen Hyde Park
“Micro apartments (make financial sense) and offer an array of benefits such as higher rental yields and capital appreciation. For instance, a standard studio apartment in Hyde Park is approximately R1.57million, while prices at