With emerging markets as the flavour of the day, South Africa is a prime investment opportunity. Boasting a strong economy, with a low inflation rate of between 4 to 5 %, South Africa has come a long way since its apartheid era. The road to democracy is a well-traveled one and has led to an improved 4 to 5 % growth in the country’s economy. It has also created enough international interest to have its own independent panel of world economists who advise President Thabo Mbeki on increasing economic growth well beyond 6 %.
At the centre of the country’s economic development is Johannesburg who has established itself as South Africa and Africa’s financial powerhouse. A commitment to the improvement of Johannesburg’s CBD by the private sector and government has led to a huge surge in inner city rejuvenation. The latest trend is a move back to the inner city that is fast becoming an entertainment venue, buzzing with pavement cafes, shops, shows and exhibitions all within walking distance. Dynamic advertising agencies and modelling companies are amongst the increasing 100 000 white collar workers moving back, thus creating huge demand for residential space. Increased security, affordable rents and higher occupancy are luring young professionals to invest in revamped century old buildings.
Spearheading the rejuvenation process is leading property development company Urban Ocean whose sell-out benchmark projects included CornerHouse (former premises of mining giant Anglo American), the Franklin and No.1 Rissik Street.
Their latest project is SP² whose opulent apartments can be snapped up for a steal.
Described as modern urban luxury living, SP² is a step away from the more traditional styled apartments.
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Designed by designers Source Design, from Cape Town, this building is a modern quest for space no longer measured in mere square meters but by the way it is used. Luxury lock-up and go apartments ranging from 38m² – 83m² boast comfort and style with an emphasis on free-flow space and state-of-the-art fittings. No cents have been spared, providing the discerned buyer with more value for money than most developments of this nature. From oak floors, to stainless steel kitchen finishes and timeless yet innovative contoured glass showers doors to quality branded appliances, all add to the luxurious appeal of this affordable investment. Furthermore, the apartments have stunning North- and East-facing views over the cityscape bringing the vibrancy of the city directly to you.
Further developments such as the proposed Gautrain between Johannesburg and Pretoria will make traveling within the financial district that much quicker and accessible. The hosting of the 2010 World Cup will prove to be an added bonus for investors wanting to either rent out their apartments or for those wanting to avoid heavy traffic jams. The Cup will also have a direct and positive impact on the value of properties in the financial district, as property here is still very much undervalued in global terms and many will flock to hotels, restaurants, cafés etc. during this period.
The draw card is the easy lifestyle and convenience that inner city living provides. Close to work, a variety of entertainment, all major highways and the airport, inner city living is a minitropolis. Consider it a deposit in your quality of life – more hours in the day to do more of what you enjoy.
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