How lockdown has changed the prediction of property
Category Advice
Having expansive property knowledge, our professional team aims to efficiently assist you with all your property needs. As the national lockdown took effect in March 2020, the need to live close to work, necessary amenities and having access to lifestyle conveniences have become priorities of homeowners and future property purchases.
Consumer needs change
Covid-19 has changed the behaviour of consumers. South Africans have encountered changes to their monthly income and therefore adapted the way they look at property. As a result, our team are seeing more requests for rental units and have seen an increase of current residents opt to stay within the renter's market to maintain flexibility.
For property investors, this would be a prime time to gear their unit for this market. This year has seen the interest rate reach 7%, its lowest in almost 50-years. Additionally, these low interest rates have allowed those who were previously renting and looking to purchase the opportunity to step onto the property ladder. However, the trend in which individuals now purchase, will be different as new living habits set in. Your personal space will become a safe haven, while your security should be guaranteed.
Access to amenities
Premium facilities will now be in demand as much as good location is required for many families. Factors like shopping trips and recreational tours have changed with property purchasers valuing close proximity.
The pandemic also saw the closure of all public outdoor and nature activities. The beaches were left bare and public gardens left undisturbed as we stayed indoors to protect ourselves and prevent the spread of the virus. As the easing of lockdown took place, there has been a spike in outdoor activity. As nature and time outdoors play a vital role in our lives, these access points are highly valued. Before lockdown, we understood the importance of having access to green spaces, and know, now more than ever, how important it is for the developments we introduce to our clients blend with the natural surrounds of the Sibaya Coastal Precinct and give residents direct and easy access to these wonders.
The Sibaya Coastal Precinct offers the necessary facilities to ensure convenience that is essential during and post COVID-19 and our developments create a lifestyle that is anticipated for years to come.
Author: Devmco Realty
