Property is in shortage across the country, and is not a problem exclusive to Cape Town. Population growth figures are sky-rocketing and the demand for residential property is increasing at an equal rate. The Cape Town CBD offers no more development prospects leaving developers looking to the edges of urban areas to develop.
There are many factors which come into play when urbanisation projects are considered or undertaken.
Here is an overview of these considerations:
- Economic Expansion
When developers are given a go-ahead to develop a new suburb, it is always wise to construct such urbanisation projects in such a way that they are self-sustaining rather than imposing on existing systems. Generally when residential property development is undertaken, there are micro-industries which start up as a result, adding to economic expansion and sustainability.
- Clustering around the construction industry
Clustering entails the micro-industries starting as a result of the development and these are initially essential in sustaining the development project. Once the phase of a development is completed, the basic services are in place.
With these large scale developments or urbanisation projects, infrastructure is required and developed. These entail roads, transport, waste disposal and processing.
- Services and sustainability
As this development grows, so does service requirements. The service requirements have a knock-on effect in that it creates employment through the requirement of services. These services include the construction of roads etc. This promotes small industries being settled.
As the development takes shape, a town is built with malls, schools and ancillary services are constructed to cater for the needs of the new residents. The sustainability of the town depends largely on the construction within the development. A micro hub is formed and through this, growth is implied.
Within these new developments there will then be property sales and movement.
Myroof has a vast number of properties on sale. Young and old are catered for. Visit our website to find a property catering for your needs.