The following is an extract from an article on BizCommunity.
Mixed-use developments are a shining star in the property world. Here’s why they’re so popular.
The rise of mixed-use developments
The daily commute, from suburb to office, can take a toll on you. Living close to your office and your favourite entertainment spots makes sense, but it’s not always been a feasible option in urban areas of South Africa. Nowadays, however, as mixed-use developments take a prime position in the property market, it’s becoming even easier to live, work, and play, all within an urban precinct.
Live, work, and play
Mixed-use developments are designed to make your life that much more convenient, by putting everything you need to live, work, and play, within easy distance. In fact, mixed-use developments blend office space, leisure and entertainment, and residential living space together, creating an all-in-one space that’s built for convenience. This creates a particular type of convenient lifestyle, often favoured by young professionals. Cutting down on the commute, and establishing a sweet style of convenience as lifestyle, mixed-use developments are in particularly high demand.
As an urban living concept, mixed-use developments present a variety of opportunities for residents to enjoy a comfortable, convenient lifestyle. But their attraction doesn’t end there: mixed use developments across South Africa also create unique investment opportunities for those wanting to break into the property market. With residential spaces that most often range from small apartments to bigger penthouses, investing in a mixed-use development can pay off quite quickly for an eager property investor. As most mixed-use development facilities offer serviced accommodation, convenient amenities, or are situated in interesting urban spaces, the demand for renting a property is relatively high.
When you’re making your next property investment decision, or searching for a new spin on your lifestyle, a mixed-use development might just be your next big move.