Overall, people will likely be freed to some extent from being office bound.There are eight trends in the residential market to be aware of, says the head of Pam Golding Properties.
For him, this reflects an ongoing price correction in line with subdued national economic growth. The market segment of properties priced between R700 000 and R3 million has been the most active. "Underutilised spare rooms are being redesigned as working hubs. For young professionals and first-time buyers, a sectional title unit with an extra bedroom, is likely to be an attractive choice. For families, a freehold home with good Wi-Fi connectivity in a peripheral area, retirement village or a country estate, solves the dilemma of choosing income generation over quality of life.
Women make up most of the first-time buyers while men make up most of the repeat buyers. Sectional title and estate properties are particularly appealing to women buyers as they tend to offer better security. The primarily appeal of co-living is that it allows people to live in areas that they could not afford in the traditional housing market. Co-living also addresses loneliness.With many people now spending the majority of their time at home, working or studying, homes have evolved into “quarantine bubbles”.