Micro living or micro-homes are certainly not a new concept. They have been a growing trend in New York, London, Berlin, and various other iconic cities around the world and studies have shown that this type of housing will increase by 75% in the next ten years, appealing to a wide demographic including students, young professionals, singles, seniors, weekend commuters, and even tourists.
Micro-apartments offer smart living, luxury, and social spaces at an affordable cost. These units combine necessity and functionality by offering the typical amenities of a standard apartment within a footprint of approximately 20m2 to 60m2 and Millennials and Generation Z have been at the forefront of this trend, seeking simplicity and minimalism and they are prepared to sacrifice space to purchase smaller meterage units to be closer to urban hubs and city centres.
So why are micro-apartments so popular?
Studies show that residents of higher-density areas are healthier, happier, more active, and socially engaged, living more sustainably, and saving money. Micro-apartments are generally located in prime real estate areas within a city, allowing residents to enjoy the convenience of having everything within arms’ reach, like Thibault Investment’s One Thibault. Towering over Cape Town’s CBD, the mixed-use development offers a short walk to the CTICC, a quick jog to Virgin Active or convenient access to Bree Street and Long Street which boasts exceptional restaurants and a diverse nightlife.
The affordability and location are not the only factors that drive micro-apartment appeal. With the need for a simpler more minimalist lifestyle, also comes more ethical and sustainable practices. Micro-apartments reduce carbon emissions by providing an array of amenities within one location – a massive draw card for the modern eco-conscious professional.
Cape Town is considered as one of the most vibrant property markets in Africa, growing faster than any other city in Southern Africa. It is one of the most stable residential markets and multi resource developments yield excellent return on investments, huge resale, and high rental opportunities due to its guaranteed solid income stream.
Another key feature that micro-apartments offer, is the clever use of storage. Some units come with modular furnishings that offer multi-purpose use, such as the Murphy-style bed to free up living space. Most young professionals love to dine out and socialize and these mixed resource developments, like One Thibault, offer communal gyms and rooftop bars, where they can entertain their friends in one location.
Co-living, multi-purpose developments and micro-living are on the rise in the Mother City which currently houses a substantial amount of co-working space. Covid-19 has further escalated the demand for these multi-purpose developments with many reassessing and adapting the way in which they live, work, and play.
One Thibault’s micro apartments are affordably priced and perfectly located to ensure that residents real all the benefits that inner city living has to offer. Units start from R895 000.