Can cycling boost real estate?

In a recent article in the New York Times they highlighted how the search for more affordable rental properties are forcing people to more far-flung neighbourhoods of the city, and as such bicycle lanes are becoming more important.

With the Green Building Council of South Africa (GBCSA) and CYCOLOGY along with Solid Green Consulting, hosting a series of inspirational electric cycle experiences in Sandton as part of a larger campaign to #DecongestSandton, and in future, all major metropoles in South Africa - we have to ask will a cycling culture push up real estate in other areas close to CBD’s across South Africa?

Real estate agents in New York stated that the old adage of location, location, location now includes how easy cyclists can reach bus terminals or subway stations. 

Sandton’s current congestion cannot be explained using any other term but gridlock. This trend is set to continue and grow significantly, with a number of new high-rise developments within the district. Currently an estimated 17 000 users are coming through the Sandton Gautrain station and more than 9 000 cars stream into the area on a daily basis. All modes of transport considered, there are more than 100 000 commuters moving around Sandton each day, with a projected increase of 27 000 more commuters within the next two years. Congestion and the undeniable frustration that accompanies it, is set to worsen. [Statistics referenced from /Sandton traffic congestion to increase in 3 years/ By Farhaanah Mahomed ]

However, unlike New Yorkers, many South Africans still believe that cycling is an impractical and even dangerous alternative mode of transport - but the push from GBCSA and CYCOLOGY is to show that this is simply not the case. Many corporates, including Growthpoint Properties, EY, PPC and Royal Haskoning DHV are not only enjoying the liberating experience of cycling in Sandton at these events, but also enjoying the efficiency and ease with which the electric bicycles cut through traffic and make the vibrant streets of Sandton so accessible.

“Ultimately we see this setting the stage and making the informed case for the development of bicycle infrastructure and a series of cycle stations throughout Sandton, not to mention the development of green jobs and entrepreneurial opportunities within the green mobility sector” says Vincent Truter CEO of CYCOLOGY.

In the real estate market in New York, the uptake of cycling to the nearest terminal or station has opened up buyers’ maps of where they can live - thus helping to ease the demand for housing close to these amenities and it has also helped boost property in other areas of the city.

Will this be the case if the seed the GBCSA and CYCOLOGY is planting starts to grow not only in Sandton but also in other cities like Durban, Pretoria and Cape Town?

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