Blok launches FOUR ON O in Sea Point | Fin24
 
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Blok launches FOUR ON O in Sea Point

Feb 25 2020 19:20

Blok has recently launched its latest development, FOUR ON O.

The new development concept, built on principles of compact, sustainable design, is situated on Oliver and Lincoln Road in Sea Point, within walking distance of the promenade, restaurants and shops.

Units in the 33-apartment development start from R1.925 million for a studio apartment and R3.5million for a two-bedroom apartment. The development features a communal braai area and roof deck with a pool, private parking, high-speed internet connectivity and energy-efficient fixtures.

"The modern owner-occupier increasingly prioritises work-life balance; young professionals want to be based near to their workplaces in the city, avoiding unnecessary time spent in traffic. They're also getting married later in life, and having fewer children," explains Jacques van Embden, managing director at Blok.

"As a result, there's a new interest in 'lock-up-and-go' apartments in prime locations - a response to increasing urban density and crime - while the trend towards sustainability is thought to be driving a pedestrian- community."

The development is also anticipated to appeal to those looking to leverage their investment through the rapidly-expanding short-stay letting market. Van Embden attributes the rise of the "Airbnb economy" as a contributing factor in FOUR ON O's appeal.

He points out that Airbnb generated an estimated R8.7 billion in South Africa between 2017 and 2018, reporting a 65% year on year growth.

Yet, currently, the buy-to-let sector of the property market only accounts for 10,6% of total sales.

cape town  |  money  |  property
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