COMMERCIAL
The rising popularity of mixed-use developments
The development of mixed-use precincts as an urban living trend is growing hugely in popularity in South Africa . Some say this is due to the pandemic , and the need for flexible working , but what is behind this increased demand ?
According to the Managing Director of Dogon Group Properties , Alexa Horne , affordability is a key factor behind this growing popularity as many of these mixed-use developments are launching apartments onto the market at highly affordable prices . Another recognised driver is the lifestyle and convenience that these developments offer residents .
Home ownership in the suburbs has declined among the younger generations who prioritise living in vibrant areas which are close to their work and leisure amenities . Young professionals are looking for location over square footage . They want to ditch their cars and travel on foot , bicycle , Uber or rely on public transport , and it ’ s not just them - older professionals are all turning their attention to mixeduse developments ,” says Horne .
Convenience & Rental Returns Mixed-use developments blend commercial office space with retail and residential living , creating an all-in-one
42 JUNE 2021 SA Real Estate Investor Magazine