{"id":624379,"date":"2022-09-10T15:00:27","date_gmt":"2022-09-10T13:00:27","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=624379"},"modified":"2022-09-09T15:35:11","modified_gmt":"2022-09-09T13:35:11","slug":"why-the-20-minute-neighbourhood-is-becoming-so-popular-in-south-africa","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/property\/624379\/why-the-20-minute-neighbourhood-is-becoming-so-popular-in-south-africa\/","title":{"rendered":"Why the 20-minute neighbourhood is becoming so popular in South Africa"},"content":{"rendered":"

Getting a foot on the property ladder has always been a primary goal for most people – and as their lives change over the years, so do their property requirements. However, significant shifts in buyers\u2019 priorities in recent years have precipitated notable changes in how these new needs are being met.<\/p>\n

\u201cTraditionally, the popular first-time buyer choice was a flat in an urban location close to the action, and when it was time to settle down, city living was traded for suburbia and, in later years, once the children were grown, downsizing most often meant moving to retirement accommodation,\u201d said Grahame Diedericks, managing principal for Lew Geffen Sotheby\u2019s International Realty in Midrand.<\/p>\n

\u201cAnd all of these moves were not only to new homes but usually also to new neighbourhoods, which meant changing amenities and making new friends in the community each time and travelling considerable distances on a daily basis.<\/p>\n

\u201cHowever, much has influenced the world during the past decade, including the technological advances which have altered the way in which we live and work and the fact that millennials have overtaken the baby boomers to become the largest property-buying demographic.\u201d<\/p>\n

Born in the age of technology, millennials are leaving the biggest footprint on an industry which saw very little change for decades as they have very different needs, priorities and expectations than their predecessors.<\/p>\n

\u201cThey highly value experiences and the freedom of convenience and often cite location as one of the top influencing factors when house buying. They want the best of both worlds – to be where the action is and close to amenities like restaurants, bars and shops however, as many now have children, they also want to be in close proximity to schools and green spaces.<\/p>\n

\u201cThese two factors, along with growing security concerns, traffic congestion and the increasing appeal of convenience in all demographics, have led to the development of suburban commercial hubs and, on a larger scale, to entire precincts that offer a ‘work, play and stay’ environment with every necessary amenity.<\/p>\n

\u201cPutting people at the centre of the way their communities are planned, how they operate and evolve leads to positive impacts on their everyday life.\u201d<\/p>\n

Diedericks said that the general characteristics of these neighbourhoods include the following:<\/p>\n