As more commuters are forced to use to public transport, there is an increasing demand for properties close to railway stations and bus terminals, according to Rob Lawrence, business development manager at Rawson Properties, who notes that South Africans are now reacting as never before to the high cost of fuel, the time wasting involved in commuter traffic jams and the difficulties in finding CBD parking.
“In many areas like Fish Hoek, Muizenberg, Parow, Bellville and Parklands, we are seeing a demand for properties which are within walking distance of railway stations and bus terminals,” said Lawrence. “We are also seeing an ongoing call in demand for City Bowl properties, especially rented property.”
More affluent suburbs, said Lawrence, are less affected by the problems mentioned because they usually have residents who can afford to run two or three motor cars. Even they, however, tend these days to lobby for decentralised offices and flexible work hours.
“Although fuel prices will come down they will never again be inexpensive and although car pools and increased use of public transport are helping reduce traffic congestion, traffic problems will be with us forever. Any property buy within walking distance of suburban public transport embarkation points is therefore likely to be a good one and people should now expect to pay a small premium for such properties. Landlords should also consider this trend when deciding to invest in the buy-to-let market, as these units will be the preferred choice of tenants.”