Micro apartments are increasingly being developed for the market and with studio apartments ranging from 20m² to 30m² in size, developers are able to achieve strong per-square-metre rates.
In addition, investors and end-users are able to secure homes with affordable ticket prices by Atlantic seaboard standards, says Adrien Epstein, a Dogon Group Properties sales representative in the area.
Read the latest Property360 digital magazine below
“We expect this trend to micro apartment living to give Sea Point’s Main Road and surrounding retail pockets a significant boost as people living in small spaces are more inclined to eat out, outsource laundry and generally socialise and use the available urban outdoor space and facilities as an extension of their homes.
Read more:
Location is a key aspect of the micro-apartment market
“The City of Cape Town’s relaxation of parking requirements in respect of these apartments will also result in less car ownership and increased use of public transport and neighbourhood living which can be done on foot.”