Ross Levin
Licensee / Owner at Seeff Atlantic Seaboard and City Bowl
Unsurprisingly, Millennial and Gen Z buyers are shaping the change at the moment. These younger generations are making their mark with distinct preferences for homes that blend affordability, technological integration, and sustainability.
Sustainable Living: Millennials and Gen Z are investing in the future. Their strong inclination towards green living drives demand for properties equipped with solar panels, energy-efficient appliances, and sustainable materials. This eco-conscious mindset pushes developers to adopt greener construction practices to meet these expectations.
Tech-Savvy Essentials: As digital natives, these buyers prioritise homes that support a connected lifestyle. Properties outfitted with smart home technologies, from automated security systems to intelligent energy management, are desirable. This generation values the convenience and security of managing their living environment via smartphones, making tech-integrated homes a top priority.
Urban Appeal: Unlike previous generations, Millennials and Gen Z prefer city life over suburban sprawl. They seek properties in locales that offer easy access to work, leisure, and social hubs, reflecting a shift towards more dynamic living spaces.
Affordable Solutions: Despite their preferences for tech and sustainability, affordability remains critical, exacerbated by economic uncertainties and the competitive job market. Many are turning to creative financing solutions, like co-ownership, to navigate the high property prices.
Security first: In South Africa, security remains a significant concern. Young buyers are drawn to properties in secure complexes or those that offer advanced security measures, blending peace of mind with modern living conveniences.
Staying ahead means adapting quickly and innovatively to meet these evolving demands, ensuring we provide properties that resonate with the ideals of the new generations entering the market.