Property Flash


September 7 2023

Inner-city living is becoming increasingly popular with upwardly mobile millennials, digital nomads, and adventure seekers the world over. Unlike their baby-boomer parents, today’s 30-somethings are in no hurry to settle down and buy property. They seem to be less motivated by the need for financial stability and permanency, and more by the need for freedom and flexibility, which is why they’re ditching suburbia in favour of a city-slicker lifestyle.

This global trend has created a lifestyle which not only benefits the individual, but which also promotes sustainable, energy efficient living.

Acutely aware of the impact that their lifestyles have on the environment, millennials are opting for smaller compact apartments because they are more energy efficient than larger “white picket fence” homes in the suburbs. They can also work in the city – or remotely from their homes – eliminating the need to commute, and reducing their carbon footprints too.

Location, lock-up-and-go convenience, energy efficiency, and flexibility seem to be where it’s at, which is why the new Harbour Arch precinct in Cape Town is so appealing.  

The first Harbour Arch tower, which was completed in May this year, represents an investment of around R2.5bn into the City of Cape Town. It comprises 560 apartments, with commercial space earmarked for restaurants, high-end motor dealerships, showrooms, and retail outlets. The completed R 15bn precinct will include six towers with around 2500 apartments, offices, hotels and more.

Harbour Arch Sales Manager, Celeste van Graan, says that rental demand has been high from the outset, with a significant surge in enquiries from both the semigrator and business travel sectors in recent weeks.

“Clients are attracted to the lock-up-and-go flexibility of our rental apartments, along with the facilities on offer – like the swimming pool and sundeck on the 18th floor, gym facilities, communal courtyard and coworking space, off-street parking, around-the-clock security, high speed WIFI coverage and the like,” she says.

“Our central location is another compelling factor,” she said. Harbour Arch sits on the doorstep of the city’s business, financial, and legislative hubs, and is conveniently close to the CTICC and V&A Waterfront.

“Our tenants love the fact that they can work, shop, dine, socialise, exercise, do their banking, get their hair cut – even visit a doctor – all within walking distance of their homes at Harbour Arch” she says.

Cape Town might well be the best run metropole in the country, but it has also become a desirable playground for young, dynamic, trend-setting individuals looking for sociable, connected, and physically active urban lifestyles.  The city is jam packed with award-winning restaurants, coffee shops, and cocktail bars, hotels and conference centres, nightclubs, theatres, art galleries, historical landmarks, parks and more – earning it the coveted title of “Greatest City on Earth” in the 2023 Telegraph Travel Awards for the eighth consecutive year. As you enter the City of Cape Town from the airport, Harbour Arch stands out as the first multi-use precinct you see. Given the sheer number of attractive aspects which Harbour Arch offers, it seems like a shrewd rental choice.

Paid for editorial for Amdec Group

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