The perception of home and how people choose to live is changing. Urban density is making homes smaller, but people are now finding ways to extend their living environment to outside of their front door, expanding into trendy restaurant-lined streets, beach-side walkways, outdoor gyms and green spaces.
This is according to research recently conducted by urban property developer Blok. Says Blok’s managing director Jacques van Embden: “As consumers and urban citizens, our needs have started to shift.
“We have seen that while the private spaces in which we live are becoming increasingly more compact in order to retain affordability and flexibility, shared amenities and better community spaces are becoming a greater feature in people’s buying decisions and lifestyle choices.
“As developers, we aim to constantly evolve our design strategies in order to welcome these changes.”
This shift in consumer behaviour is the inspiration behind Blok’s latest development, SIX ON N. An innovative solution for those seeking a more agile, affordable investment, the 87-apartment development - located on the prestigious Norfolk Road in Sea Point, Cape Town - boasts a number of exciting features.
While some of the apartments are compact (starting from 20m²), they are cleverly designed to make use of the available space. Each apartment is kitted out with an integrated workstation - a nod to the global movement towards WFH (work from home), while Blok’s signature ‘raw’ finish and thoughtful design offers increased affordability - with apartments starting from as little as R1.1m VAT inclusive.
“Residents can enjoy access to the shared spaces and serviced features that the development offers; which extend beyond their personal, private space.”
SIX ON N’s communal boardrooms are able to be reserved by residents as needed, and to ensure a healthy work-life balance, the development also offers a shared rooftop pool showcasing panoramic views, a fitness studio, and a convenient on-site deli that residents can frequent.
SIX ON N ticks the box on location too. With its beachfront life, national reserves and high-street culture - offering both the serenity of nature and the hustle-and-bustle of an urban space - Sea Point remains eternally popular; both from an investor as well as a lifestyle perspective.
While the current landscape is admittedly volatile, Van Embden highlights that property remains one of the more stable investments. “Even when purchased in the midst of a recession, it has been proven time and time again that property’s yield remains stable over a longer period, offering continued peace of mind to would-be buyers.”
This was proven earlier this year, when Blok launched its Sea Point-based development, FOUR ON O. “Despite the nationwide lockdown commencing a few short weeks after our official launch, we sold 70% of the available apartments, and have already broken ground,” says Van Embden.
Providing further incentive to buyers is the fact that interest rates are currently at an all-time low, while the variable lending rate is currently pegged at 7%. “It offers the perfect opportunity to bring people into an incredible asset class,” says Van Embden.
He goes on to explain that the current climate has opened up suburbs and opportunities to those who were previously priced out of owning property. “With SIX ON N, we’re aiming to shrink this gap between buying and renting.
“Essentially, you are afforded the opportunity of owning an apartment in a prime investment location - with all the lifestyle benefits it offers - for approximately the same as it would cost you monthly, if you were renting.”
Read more about SIX ON N here
and, for more information, please visit blok.co.za