Imagine waking up to the constant change of the iconic skyline in Sandton. Imagine hearing the birds fly past your window while you gaze down on a bustling city below. Picture yourself having your morning coffee on the balcony of a centrally located high-rise in the economic hub of Johannesburg. This is the future of living in a city, the luxurious lifestyle that investors the world over are turning to.
The new kid on the blog in the land of investments has to be luxury living in the Sandton CBD. It is hard to miss the ever-changing skyline that greets any Jo’burg dweller driving into the city, and with a growing economy bringing more people to Sandton, property has once again become investment chic.
But why is investing in apartment living such a popular choice today?
Sergio Aquino, from Lushaka Investments says: “Factors like congestion, security concerns and being closer to work have all become massive contributors to where the growing market is looking to purchase. There is a gap in the market for this kind of lifestyle, and out of this concept, high rise buildings like Central Square are born.”
It isn’t to say that suburban living has lost its charm either, but with the focus being on convenience across all aspects of our busy lives, luxury apartment living makes sense as an investment opportunity. One needs to consider what you need to invest when purchasing and maintaining a suburban home. There are so many aspects to consider when comparing the kind of lifestyle that is offered with high rise apartment developments.
So why is property still the most popular investment opportunity for the public?
Property is a sustainable investment whereas investing in a business comes at a much higher risk. Investment and property developers can cater to a vast group in the market with various residential property options that suit a variety of investment categories. Property is the investment return that keeps on growing as there is a constant need for a place to call “home”. It is also becoming an increasingly popular choice for investment opportunities as well, which can be seen when we compare what the going rate for a luxury apartment in the heart of Sandton is now, and what it was a few years back.
Property guru Gijs Foden from Michelangelo Towers gave us insight into how these figures add up. So it’s easy to see why it is such a popular investment choice for both young professionals and established families.
We’re catching up to the rest of the world in terms of thinking outside of the box living, does this extend to cost as well?
Aquino says: “In terms of value, South Africa lags behind by up to 15% if you compare similar apartments to some of the world’s financial and economic capitals. So while many could claim that the price of investing in a high-rise residential unit is too much, South Africa is still well below the world market. For now, the cost of property in South Africa is still within reason in comparison to what you are getting.
“Everything is rising in cost,” he adds. “So while it may seem like an excessive luxury, it is also a sustainable and long term investment.”
With new developments breaking new ground on a regular basis, it is clear that there is a very tangible return in investment in luxury high rise living. Investing in property is the new gold, especially because the lure of investing in South Africa reaches beyond our own borders.