Are micro apartments a fleeting fancy or are they here to stay, like our star rated online casino South Africa?

Micro apartments are trending like our online casino South Africa.  They are currently viewed as the ‘darlings’ of the property sector.  Are these the biased claims of the developers and real estate agents, or are these tiny homes and their popularity really here to stay?

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A decade has passed since the launch of our online casino South Africa.  As is evident from our presence on the World Wide Web, Springbok Casino is still very much a force to be reckoned with.  So much so, we have expanded our footprint over the years to include a mobile casino, instant play platform and Android app.

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Can the same be said about the current boom in micro apartments – or are they destined to fail?  Let’s take a closer look at a property trend that is exploding world-wide!

What is a Micro Apartment?

As the name suggests, micro apartments are tiny living units.  They are typically open plan and around 32 to 35 square metres in size.  That is only about twice the extent of an average parking spot you’ll find in a parking lot at your local mall, shop – or anywhere else for that matter!

To make up for the lack of space, these diminutive pads usually have high-end luxury finishes.  They are also fitted with smart modular multipurpose furnishings that can be expanded, retracted, concealed or even hung on the wall when not in use.

In reality, micro units are like zhooshed up dorm rooms.  The only difference is you don’t have to share your bathroom amenities with anyone else!  As for outdoor space… well, there isn’t any, not for your exclusive use, in any event.  Don’t expect a tiny little private garden to go with your tiny house.

One of the unique selling points of these micro pads is, in fact, the shared communal space.  It can be in the form of a roof-top garden, braai area or swimming pool.  Amenities like an onsite laundry, gym, Wi-Fi and underground parking are usually part of the package.

When it comes to space, our online casino South Africa wins hands down.  We have an infinite amount of room in which to grow and expand.  Invest in a micro pad and the same cannot be said.  Even trying to fit in a partner on a permanent or temporary basis, takes some doing.

Why is the Demand for Micro Apartments Soaring?

The most quoted reason for the surging popularity of micro pads is price.  Micro units are marketed as being the affordable alternative for entry-level buyers.  In reality, that may well be true but – and it’s a big but – the price per square metre is higher than what you’d pay for a one- or two-bedroom apartment.

That said, you’ll be hard-pressed to find a pad in a prime location in central Cape Town for under R1.4 million.  That feat is certifiably impossible!  It does however bring us to the next major selling point… location.

Globally, the ‘best’ mini pads are located in trendy downtown areas.  They are close to job opportunities, transport hubs and hot and heaving nightlife.  In Cape Town, for instance, the fringes of the city, like Woodstock, Sea Point and the Zonnebloem area, are the go-to locales for property developers.

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Last on our list of what makes these little homes desirable is that micro units are appealing to young and environmentally conscious buyers and renters.  They like the fact that their carbon footprint is reduced by living with limited resources.

It is all about a minimalistic lifestyle.  They eat out, walk or ride a bicycle to work – and have more cash available to do their favourite outdoor activities.

Are Micro Apartments Here to Stay?

The reality is it is too early to say.  There is not enough independent data to determine whether the demand for micro pads is really as strong as what is claimed.  Nearly all the information available online is derived from articles and marketing material written by real estate agents and the developers themselves.

What we do know is in some countries, getting a bond or raising capital to buy a micro apartment isn’t that easy.  Banks and other traditional lenders do not appear to be all that enthusiastic about the emerging property niche.

What is more, not all economists and investment gurus are on-side.  In fact, pundits are warning that when you buy a micro pad as an investment, you can expect high rental yields but limited capital growth.

On the other hand, our online casino South Africa has a tried and tested track record.  We have been operating online since 2012 and there are no indications of waning demand.  To the contrary, we are more popular than ever.  Our constantly growing player base attests to that fact!

Although the ‘minimalist’ and reduced carbon-footprint movements often coincide with the newer generation opting to go ‘child-free’, the reality is that life happens.  How buyers feel about starting a family when they buy their first mini pad in their 20s might not be the same as they approach their 40s.  Naturally, these tiny little homes cannot accommodate growing families.

To conclude, unlike our top-rated online casino South Africa, which is without any doubt here to stay, the verdict on micro homes is still out!

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