The Cape Town Central City Improvement District (CCID) recently released a survey that shows overwhelming support for the “downtown” lifestyle that the area has to offer.
Overview of the Cape Town CBD at sunrise - picture taken by Lisa Burnell.
The CCID was established in 2000 and is one of 25 Central Improvement Districts (CIDs) operational in the Cape Town Metropole, the CCID was, the first City Improvement District CID of its kind in South Africa.
Funded by property owners to provide complementary urban management services to a specific geographic area, its services include supporting and augmenting the City of Cape Town’s safety and cleaning efforts in the Central City, ensuring that the environment is well-managed, that social development issues are addressed and that the Central City is promoted as a leading business destination.
According to Cape Town Partnership senior researcher Andrew Fleming, in compiling the research, they came up with the idea of the residential survey in order to assist the CCID to develop a better understanding of exactly who lives in Cape Town’s Central City area, what they do for a living and how they add life to the CBD when they hit the streets after hours.
“This survey helps us to understand how the CCID can better match its services to the needs of residents to best live up to its motto of ‘safe, clean and caring.’
“It told us what people like as well as what they would like to see improved, and through this survey we’ve started a two-way conversation with residents that’s an important step towards ensuring long-term engagement,” says Fleming.
Seeff Cape Town CBD managing director Ian Slot says the CCID provides for some peace of mind as the 24-hour security eases some concerns with buyers not very familiar with the status of security in the area.
Investors and residents alike can see the work that is being done in the city and are grateful for it.
“We feel the awareness of the CCID is growing, however, we wouldn’t say just yet that it has improving values specifically, but rather maintains the buyers’ approval of the area,” he says.
This one bedroom apartment in Cape Town City Centre is selling for R790 000 through Seeff City Bowl/Tamboerskloof. Click here to view.
Living in the Cape Town CBD
Fleming explains that according to the latest SA Census, there are just over 5 000 people now living in the CBD.
Important to note, he says is the fact that this survey (the first of its kind, with 220 respondents) is, at this stage, a dipstick of opinion rather than a survey that represents the majority of residents, however, it reveals a number of very interesting facts among those that responded.
According to Fleming, living in the CBD is something that starts out of convenience, but grows into a lifestyle.
One of the top reasons for living in the CBD is based on convenience (being close to work and central access to other neighbourhoods) and shows that residents are really starting to seek out the compact city lifestyle.
As more people start to enjoy having restaurants, shops, and offices within walking distance of their homes, the lifestyle itself will start to grow.
“CBD residents are increasingly gaining better access to events like “First Thursdays” which sees participating galleries, shops and restaurants now staying open until late on the first Thursday of each month.
Events such as concerts on Greenmarket Square, new food markets and exciting restaurants - all of which grow out of the convenience of being “in the heart of it all” form part of this initiative.
“The CBD is also one of the most urban areas in the greater Cape Town area, giving a unique 'vibe' to life here, and something that many feel is an asset that 'connects' them to the downtown lifestyle of other, bigger cities around the world.”
The survey also demonstrates a love of public space such as The Company’s Garden and pedestrianised thoroughfares like St George’s Mall.
Fleming says the hustle and bustle gives off its own energy, and this is a huge draw card for many residents.
1. Property in the CBD
An interesting revelation was the length of time some people have lived in the CBD, along with the length of time they still anticipate living here.
“This shows confidence in the urban lifestyle of the CBD and respondents emphasised that there was a ‘vibe’ in the CBD that you didn’t find anywhere else in Cape Town,” he points out.
While a number of traditional CBDs in South Africa aspire to be the hip and happening downtowns that we see in the movies, the Cape Town Central City is the only one getting this significantly right, with a healthy spread of residential now dotted across its entire footprint, he notes.
What’s more, just 10 years ago, it was estimated that only some 750 people were living in the Central City and according to the latest census data, this figure has now risen to well over 5 000, living in approximately 3 500 sectional title units.
A number of estate agents operating in the CBD have alluded to the increase in demand for and property values in the area as a result of the desirability of the city as a location to buy or rent into.
Whereas once the city experiences oversupply, in some instances, agents report stock shortages all because buyers and investors have greater confidence in the property market, pointing out that properties that are priced right in line with market conditions sell very well.
Furthermore, estate agents also note an increase in the number of South African buy-to-let investors as well as first-time buyers in their 20s to 30s working in town entering the market.
These buyers according to agents have convenience and security at the top of their list when buying.
According to agents, buyers include parents buying properties for their children to live in (students or those just starting to work), professionals in the 30 to 40 age group and the over 45 from Hermanus, Swellendam, Gauteng and overseas looking for a lock-up-and-go city pad.
Slot says the South African market has become more open to a “Manhattan-style” of living and this has greatly improved their property sales as there is more interest in the CBD than there was in the past.
Slot says, for example, annual CBD sales are 154 percent up from the same date in 2012 and the average selling price this year is ± R1.35 million from the average of ±R1.3 million.
On buyers, he says they are about 60/40 in favour of investors as opposed to live-in owners, while young professionals are typical tenants.
A promising indicator showing the potential of the MyCiTi service, is that the survey showed that while only 9 percent use it to get to work, 30 percent of all respondents indicated they are using it in one way or another, he says.
A studio apartment measuring between 35 and 45 square metres costs between R600 000 and R700 000, a one bedroom apartment (50 to 70 square metres) is priced between R750 000 and R1.35 million and a two bedroom (70 to 110 square metres) is priced between R995 000 and +R2 million.
The survey shows just how popular retail was in the areas that had the highest pedestrian footfall, says Fleming.
2. Transport
Fleming says research reveals a surprisingly large number of people use cars to travel short distances.
However, as MyCiTi rolls out further and the CBD incorporates more non-motorised transport options, such as bicycle lanes and pedestrian corridors, it will be interesting to see whether the number of local drivers drops over the years, he points out.
A promising indicator showing the potential of the MyCiTi service, is that the survey showed that while only 9 percent use it to get to work, 30 percent of all respondents indicated they are using it in one way or another, he says.
Commenting on these figures in City Views, Councillor Brett Herron, Mayoral Committee Member for Transport for Cape Town notes: “We’re looking to eventually achieve a 60/40 percent split – public transport versus private vehicle – so we’ve still got a long way to go, but I think that if, within the Central City, 30 percent are already using MyCiTi, that’s very encouraging.”
3. Friendly public spaces
The survey reveals the fluidity of movement through the CBD and residents clearly knit the city together; they’ll shop in one part of town, work in another and then go to restaurants situated throughout the area.
To residents, the CBD is more about a vibe, as opposed to a bounded space, according to Fleming.
The survey also demonstrates a love of public space such as The Company’s Garden and pedestrianised thoroughfares like St George’s Mall.
The CCID residential survey will now be conducted annually, and City Views invites anyone who lives within the CCID boundaries and would like to be added to the database.
Email for more information. – Denise Mhlanga
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