Remote work is set to be a defining trend in 2024, with it having a huge influence on home buying across the country.
“The remote work phenomenon has transformed what people seek in a home. There’s a growing demand for properties that can accommodate home offices and offer a better work-life balance,” said Harcourts South Africa CEO Richard Gray.
The rise in remote work has also led to increased interest in properties outside of the major traditional urban centres across the country.
“We’re seeing a significant trend where buyers are opting for homes in quieter, less dense areas. These locations offer more space, which is a key consideration for a home office setup,” Gray said.
He added that the functionality of a home has also taken on new importance, with home buyers looking for dedicated spaces for work, as well as high-speed internet connectivity.
“A home’s ability to support a professional working environment is a crucial factor,” he explained.
The change is not just a temporary response to recent events, such as the Covid-19 pandemic, but a long-term change in the housing market.
“The concept of a ‘home’ is evolving. It’s no longer just a place to live but also a place to work. We anticipate this trend will continue to influence property preferences in the years to come,” Gray said.
A recent survey of hundreds of professionals and job applicants in South Africa by Recruitment agency Michael Page showed that employees responded well to remote working.
87% of respondents said that remote work did not reduce their working hours, while over 50% said that the felt even more motivated whilst remote working.
Julien Raze, Director at Michael Page Africa, noted that “top talent will also consider what flexible work arrangements companies can offer.”
“Now more than ever, candidates need to be convinced they are making the right decision for themselves and their family,” he added.