‘Sleep small, live large’ properties on the rise
There’s been a big spike in residential building as savvy developers start to target a younger crowd at a lower price point — with talk of a ‘sleep small, live large’ mindset
There’s been a noticeable rebound in residential development activity in recent months, with plenty of new stock — sectional title apartments in particular — coming to the market.
Latest figures from Stats SA show plans passed and completed for houses larger than 80m² were up 18.1% year on year in the first quarter; for flats and townhouses they were up 37.2%. That follows a dismal few quarters when building activity came to a virtual standstill, no doubt on the back of pandemic-induced lockdowns and trading restrictions (see graph)...