INNER CITY INVESTING
Inner cities are growth engines attracting young homebuyers
Inner city living is boosting the city residential property market and driving urban rejuvenation
By Andrea Tucker
Inner cities . Love them or hate them , they play a crucial role in stimulating , supporting and enhancing a country ’ s economic growth . They are hubs for productivity , and due to the scale , diversity and density of activity , ideas and information flow freely , offering a wealth of creative and entrepreneurial opportunities for those who choose to live there .
As a developing country , South Africa is urbanising rapidly . Estimates suggest that just over 67 percent of South Africans are living in urban areas , and this is predicted to rise to 71 percent by 2030 . By 2050 , eight in 10 people will be living in urban areas .
“ While they may not be for everyone , inner cities have an energy that tends to appeal to the young South African population , and the smaller apartments offer a minimalist , affordable , lock-upand-go option .”
78 JUNE 2022 SA Real Estate Investor Magazine