The economy of South Africa never seems to support the solid and necessary foundation that is home ownership.
With a decrease in the value and monetary power of our Rand and the increase of price tags attached to homes, renting is on the rise and ownership is decreasing. The youth of South Africa have seemed to adapt well to this, as the boon is that more time is allowed to be spent saving up for the future. Patience is a value that the up-and-comers seem to be holding on to! But which suburbs and neighbourhoods in South Africa can extend their graces into the likes of Generation Y?
This article will analyse Cape Town, Durban and Johannesburg and uncover where this trendy and highly influential are flocking to. These three cities boast a landscape that is privy to a huge influx of youth-centric cultural influence. The movement of young workers in the city is parallel to the vibrancy of the CBD, which areas in and around the central hub are closer to neighbourhoods that have been revitalised, to accommodate a youth-centric lifestyle.
Cape Town - Where the Youth Are Living
The CBD has always been popular for students and young workers. This is perhaps due to the fact that the city centre of Cape Town is one of two areas that comprise the majority of colleges and universities. Another more obvious reason is that Cape Town boasts the party-centric lifestyle that is integral to the wants and needs of young Capetonians.
The Cape Quarter used to be the social and economic hub of the Muslim community. Whilst the neighbourhood is still culturally decorated with its Cape Malay backgrounds, young workers are drawn to this area because it serves as a strategic and quick access point to many offices and places of work in the core CBD area. Gardens and Tamboerskloof are similarly being graced by an influx of youth. The leafy suburbs, nestled on the foothills of Signal Hill, are as peaceful and charming as they are trendy. Popular bars mould into the inclining corners of Kloof Street - and one will find that a 10 minute drive takes you to Camps Bay, one of the most luxurious, vibrant and ultra-trendy seaside suburbs in the greater Cape Town area.
On the fringe of the city, the once “no man’s land” neighbourhood of Woodstock is undergoing renovations and revitalising its artisanal culture. One can predict that the the greater CBD area will fill up with the youth market as the next couple of years follow through.
Durban - Where The Youth Are Living
Durban is arguable the hub of South Africa’s surfing community. The exuberance and placid lifestyle comes part and parcel of the youth market that moves around to the trendier suburbs and neighbourhoods. The humid, subtropical climate, renovation of their world-class marine tourist attractions and foreshore have put Durban back on the map of South African popularity.
In this port city full of culture and history, where are the younger markets finding a home? Unlike Joburg and Cape Town, Durban’s “trending” scene is not substantial by comparison. Many young workers move to a metropolis due to the lack of opportunity or better pay elsewhere. One of the suburbs that have gained notoriety for the passionate young worker is Morningside. The upper-class area offers a taste of the “work hard, play hard” lifestyle, with trendy restaurants, bars and clubs being a second home to the up-and-coming young Dubanites.
The modern skyrise apartments give ways to paradise views of the Moses Mabhida Stadium, and the greater neighbourhood is a central gateway to the CBD and foreshore. Adjoining suburb Berea is also a very youth-centric place to live, and offers superb views of the CBD’s skyline. Durban’s culture is coming back to life and finding popularity in the outskirts of the city. Whilst renovations on the foreshore has created a boom for local tourism, it has not yet attracted the youth to the city centre.
Johannesburg - Where The Youth Are Living
The powerhouse of Africa’s economy and the a city that was built on gold has seen large shifts in the rejuvenation of the cities residential areas. The crime rate has somewhat plummeted and the hub of commerce has shifted from the city centre to Sandton, one of the most expensive residential communities in South Africa (as well as Hillcrest).
What areas are appealing to the youth? One such area that is drawing in an impressively diverse range of young workers is Mellville. The neighbourhood is artisanal, bohemian and trendy with many college students zoning in on the area to enjoy the unique nightlife and mixes of cultural backgrounds. Johannesburg attracts a large segment of the youth market thanks to the job opportunity and increased offer of salary that one can expect in Cape Town and Durban. In this regard, young workers are able to rent in more affluent areas and settle down a lot faster. In addition, the CBD of Joburg has recently undergone a “hip” revival and could potentially attract more youths to live in the city’s concrete jungle. Where there is money to be earned, many will go.
Future neighborhoods for young professionals in South Africa…
For now, it seems that metropolis’s Johannesburg and Cape Town are winning at drawing the youth market due to the innovation of lifestyle, trending rejuvenations and nightlife. Durban needs to catch up a little bit, but with their growing coffee culture coming to fruition, we might just see a few hipsters roaming the streets soon enough! For a broader spectrum on the insights of consumer trends, click here.
