Six top prime property trends in Africa you should know

Image8.png Photo Credit: Roderick Eime

Sat, 18 Mar 2023 Source: face2faceafrica.com

There is a growing trend in the prime property construction market in Africa towards better living standards, with a focus on creating eco-friendly houses and apartments, as well as residential areas closer to natural habitats (forests, wildlife areas, etc.), safety, serenity, and many more.

Estate living is becoming increasingly popular in many African countries like South Africa, Mauritius, Nigeria, Ghana, and a few other countries, with South Africa being the global pioneer in estate living.

Aside from being the leading country in estate development trends, South Africa is home to some of the world’s most luxurious residential areas, including Clifton in Cape Town, Lagoon Drive in Umhlanga, Sandhurst in Johannesburg, and many more.

If you are in the Billionaires or Millionaires club or looking forward to becoming one, here are the recent trends in the prime property market in Africa.

Safety and Security

The rising insecurity in the Sahel Region and other parts of Africa, caused by terrorism, insurgency, and other security threats, is causing increased migration to safer zones where adequate security is guaranteed.

According to Michael Curtis from security specialists Saber Fence, “The search for safety is the main driver of new trends in the South African residential property space – it is linked to the rise in home security, the rise of estate living, the rise in apartment living, and the ongoing movement of affluent people to safer parts of the country.”

Many people are increasingly relocating to safer residential areas like new ultra-modern estates equipped with modern security facilities, good road networks, and other facilities.

Solar Roofs vs. Solar Panels

The demand and preference for solar roofs picked up in 2022 and will increase more in 2023 and beyond due to the massive shift towards alternative power from less costly and eco-friendly sources. It is preferable to use solar roofs straightaway when constructing a house rather than spending the extra money to buy solar panels later. This trend is increasingly popular among the wealthy.

Eco-friendly Lifestyle Estates

Another rising trend in 2023 is the increase in eco-friendly estates built within and around natural habitats (wildlife areas, forests, etc.), which is becoming popular among the wealthy. Some notable eco-friendly lifestyle estates include Zimbali Estate, Leopard Creek, and Highland Gate in South Africa, and Anahita, Mont Choisy, and One & Only Le Saint Géran in Mauritius.

Safari and Rainforest Lodges

Safari and rainforest lodges are the next eco-living preference among the rich in Africa, making it a booming business. Safari and rainforest lodges also contribute to the preservation of the habitat and are expected to increase more in the coming years, with more patronage from the affluent. Africa is home to most of the world’s Safari and rainforest lodges, including Sanctuary Gorilla Forest Camp in Uganda, One & Only Nyungwe House in Rwanda, leopard Hills in South Africa, and many more.

Community preference

There is a general movement away from traditional houses towards specially created neighborhoods that allow more parking spaces, children’s playgrounds, schools, shopping centers, and other facilities (gyms, spas, golf courses, tennis courts, cycling, jogging, walking paths, etc.).

Preference for Smaller Cities (Retirement Estates)

According to the New World Wealth survey in South Africa, many South Africans (especially those above 60 years old) are moving away from the big cities towards the smaller cities and towns, which are often safer and better run, with towns in the Cape Winelands, Garden Route, and Whale Coast becoming the popular destinations.

Also, affluent buyers are steadily gravitating away from houses to luxurious apartment areas, wildlife, and parkland estates, due to stable costs, safety, security, less general maintenance, and more space. Some notable wildlife estates include Royalston Coastal Wildlife Estate, Hoedspruit Wildlife Estate, Raptor’s View Wildlife Estate, and many more.

Source: face2faceafrica.com