With space at a premium globally, coupled with the appeal of convenient, hassle-free living, there’s a desire among some upmarket home buyers for more manageable space, but without compromising on luxury and quality – and with the emphasis on lifestyle.
This is according to Dr Andrew Golding , chief executive of the Pam Golding Property group. “As spaces shrink, when it comes to high-end homes, there’s no need to forego the latest cutting-edge architecture, leading world-class luxury and stylish, contemporary design. On the contrary, you can still create a showpiece with all the latest luxury features, unique appeal, and privacy to boot. Visualize a sundeck that can ‘float’ between swimming pools, or an amphibious floating house which rises in sync with the level of the River Thames. These are both realities in existing ‘micro mansions’ overseas.”
A trend being noted internationally is the emergence of micro mansions, a catchphrase which definitely epitomizes the very nature of the Cape’s Atlantic Seaboard due to the scarcity of view sites and the demand to live in this prime, narrow coastal strip perched on the side of a mountain, says Basil Moraitis, Pam Golding Properties area manager.
Moraitis adds that this is a trend which has taken off in the property market on the Atlantic Seaboard in recent years, so much so people are remarking at the fact that ‘downsizing is the new lifestyle upsizing’.
“These buyers seek the convenience of hassle-free living within the confines of the special microclimate offered by the Atlantic Seaboard, with easy walking access to trendy restaurants, shops, pavement cafes and outdoor activities such as walks on the beachfront promenade. Here they enjoy the benefit of enhanced security offered by these apartment blocks, many of which offer a front desk concierge and high-end security. There are a number of gyms in the area within walking distance, and the Green Point Urban Park is a big drawcard, as well as the proximity to the V&A Marina, and, more importantly, the lack of gridlock traffic when heading into the CBD.”
“While people in their fifties and sixties may be reducing the scale of their properties, this is not necessarily in regard to value. In Cape Town, which has the strongest house price inflation in the country, we’re seeing an increasing number of buyers selling their larger homes to buy similarly-priced yet more compact, lock-up and go properties on the Atlantic Seaboard or City Bowl area,” says Sandra Gordon, Pam Golding Properties senior research analyst.
Richard Smith, Pam Golding Properties area manager in Hyde Park, adds that living space requirements have changed over the years, and there is a definite shift to more open plan living. “Some people want to create spectacular houses on smaller properties, where there is less garden to maintain, but the homes are luxurious and up to date. So there is an emphasis on glamorous architecture, upmarket fittings, 21st-century features, space, security, and, above all, comfort. We certainly have a segment of worldly residents in Johannesburg for whom the benefits of a micro mansion in this context will have high appeal.”
From Property 24
18 Jun 2019