Respublica, a leading provider of purpose-built student accommodation (PBSA) in South Africa and partner of Proparco, aims at developing co-living affordable housing solutions for young professionals in Gauteng. The overarching goal is to provide better quality affordable rental housing options close to economic opportunities for the young professionals entering the labour market.
Despite the South African government’s delivery of 300 000 houses in the past five years, South Africa continues to face a massive housing backlog, with over 2.4 million households registered on the National Housing Needs Register in 2023.
The high rate of urbanization is putting pressure on basic services and leading to an increase in informal settlements. Given land constraints, denser forms of urban living, such as via inner-city rentals, is becoming a focal point. High unemployment, a weak economy, and a rising cost of living have also heightened the demand for affordable housing.
Almost half of the housing backlog is concentrated in Gauteng, the country’s smallest province in size but the largest in population numbers and economic activity. It is against this backdrop that research in affordable housing is necessary in Gauteng, which attracts young professionals seeking employment opportunities.
Affordable housing options for these young professionals are limited. Affordable housing can take on many forms, while social housing comes to mind at first, the set criteria for a person to qualify for this type of housing automatically disqualifies a single person.
By evaluating the macro-economic and urban environment of Gauteng, this research aims to identify opportunities for the co-living model, especially in areas close to economic opportunities. This is indeed crucial for young professionals entering the labour market, as it provides them with access to quality housing options near their workplaces, sparing time and the high cost of home-work-home commute.
The analysis of key economic nodes and commuter markets sheds light on mobility patterns and helps identify areas with high job opportunities. This information is essential for targeting housing development initiatives effectively. Supported by surveys and focus groups, this research provides also insights into the young professionals market, mobility patterns as well as an overview of the affordable housing market in the selected economic nodes.
Source link : https://www.afd.fr/en/ressources/market-research-co-living-affordable-housing-solution-gauteng-south-africa-part-one
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Publish date : 2024-06-12 20:54:29
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