Real Estate Investor Magazine June 2024 Edition | Page 105

MULTI-GENERATIONAL LIVING in is seen as an unwelcome imposition but others are embracing multi-generational living wholeheartedly , building additional dwellings on their property or converting unused space to granny flats .
In 2020 , the City of Cape Town went so far as to amend a municipal bylaw to give homeowners the automatic right to build up to three dwellings on their land on all properties in the city zoned as SR1 .
The rise of multi-generational living is more evident in freestanding homes than in sectional title schemes ( complexes ), where there are restrictions around the changes and additions an owner can make to an existing unit .
We are seeing an increasing trend of residential estates marketing themselves as the ideal site for multi-generational living , offering proximity to family members who can offer
Real Estate Investor Magazine JUNE 2024 53