Mixed-use developments are becoming increasingly popular amongst property buyers and investors in South Africa Mixed-use developments combine residential, commercial, and recreational spaces within a single precinct. “These projects create synergy by combining various lifestyle elements in convenient locations. For buyers, this translates to a higher quality of life,” said Richard Gray, CEO of Harcourts South Africa.
“For investors, the diversified nature of these developments often leads to higher returns and reduced risk.” Harcourts said that mixed-use developments are a game changer for property buyers and investors. The financial benefits of investing in these developments are also becoming increasingly clear, with investors able to capitalise on a variety of revenue streams, including residential and commercial leases.
The diversification provides a more consistent cash flow and mitigates risks linked to market fluctuations. Another benefit is the potential for long-term capital appreciation. Urbanisation is driving demand for integrated living spaces, so properties within mixed-use developments are often seen as more desirable, resulting in better resale values over time.
Buyers can thus benefit from both immediate lifestyle improvements and future financial gains through strategic investments. “These developments enhance the quality of life for residents while providing robust investment opportunities for buyers,” said Harcourts. “As the property landscape continues to evolve, embracing the mixed-use trend may just be the key to unlocking sustainable and profitable investments in 2024 and beyond.
” Below are seven prominent mixed-use developments in South Africa: Val de Vie is set in the Paarl Valley and boasts luxury homes, equestrian facilities, retail spaces and leisure amenities. “This development not only offers an unparalleled lifestyle, but it also enables residents to enjoy conveniences within walking distance, thereby enhancing property desirability,” said Harcourts. Steyn City in Northern Johannesburg also represents a shift towards more sustainable living, as it has large green spaces, entertainment options and a variety of residential offerings.
“As one of the largest mixed-use developments in South Africa, it features a sprawling park, schools, and a golf course, making it an attractive choice for families and young professionals alike,” said Harcourts. “The appeal of such amenities drives demand, which enhances property values and offers a secure investment for buyers.” Harcourts said that Melrose Arch in Johannesburg is a prime example of urban regeneration.
The precinct offers residential spaces, high-end retail outlets and corporate offices. Melrose Arch’s strategic location, right off the M1, makes it a hotspot for both investors and buyers. Waterfall City in Midrand, Johannesburg, also highlights a prominent mixed-use development that uses residential, commercial, and leisure spaces within a master-planned environment.
It has high-end offices, luxury apartments, green spaces and Mall of Africa – South Africa’s busiest mall. Near Canal Walk in Cape Town, Century City also combines office space, luxury apartments and recreational facilities. It prioritises a pedestrian-friendly environment and ample open spaces.
Rosebank in Johannesburg has been regenerated in recent years. The area is known for its vibrant atmosphere and its proximity to the Gautrain station, which allows easy access to the rest of Johannesburg and Pretoria. Kyalami Estates combines luxury residential living with commercial space and ample amenities, such as schools, shopping, and recreational facilities.
The area is designed within a secure environment. :.
