A new “micro-living” apartment development is coming to Cape Town – offering property in Woodstock for under R1-million. In the face of skyrocketing property prices and rentals throughout the city, is this minimal and affordable approach the answer?
Following the international trend of micro-living, Cape Town is catching up with the introduction of 1 on Albert. Located one kilometre from the city centre in Woodstock, the development is coming to market with stylish, yet barely dorm-sized, apartments to attract first-time buyers. Units are selling from R950 000 to R2-million, while those which were available for R750 000 have already been snapped up. Property developers Dogon Group, along with AJ Property Holdings, expect the block to contain 133 living units over seven floors, ranging in size from 21m² studios to 75m² two-bedroom units.
All 1 on Albert apartments will feature top-end finishes and include fitted SMEG appliances, flat screen smart TV’s and the capacity for uncapped, unshaped 100megs/second fibre internet. Woodstock’s latest addition will also feature communal recreational spaces, shops, a food court, laundromat and a heated swimming pool.
Dogon Group says that 1 On Albert is involved in a collaborative partnership with Nedbank, where flexible finance that includes reduced interest rates, discounted registration fees and flexible deposit options will be available for first-time buyers.
Meanwhile, elsewhere in Woodstock, a new 46m² apartment will set you back close to R1.9-million, while an older 55m² apartment in upper Woodstock is selling in the region of R1.8-million.
Photography Dogon Group
