With rising living costs and economic uncertainty, this generation is prioritising smaller, more manageable properties. Image: Supplied.
South Africa’s property market is witnessing a shift as Generation Z steps onto the scene.
Born between 1997 and 2012, these young buyers are already making their mark, bringing fresh priorities and perspectives to the industry.
“Generation Z is redefining what it means to own a home,” Antonie Goosen, principal and founder of Meridian Realty said.
“They are highly informed, tech-savvy, and value-driven, which sets them apart from previous generations.”
One of the defining characteristics of Gen Z buyers is their focus on affordability.
With rising living costs and economic uncertainty, this generation is prioritising smaller, more manageable properties.
“They are not necessarily looking for their forever homes but rather for starter properties that offer a foothold in the market,” Goosen added.
Proximity to urban amenities is another key priority for these buyers. Generation Z values convenience, with many seeking homes near public transport, co-working spaces, and vibrant social hubs.
“They want to be in the heart of the action, where they can easily balance work, social life, and personal pursuits,” Goosen said.
Sustainability also resonates strongly with this demographic. Gen Z buyers are more likely to seek properties with energy-efficient features and environmentally conscious designs.
“Green living isn’t just a trend for this generation; it’s a lifestyle choice that aligns with their values,” Goosen said.
Technology plays a significant role in shaping Gen Z’s property preferences. They are drawn to smart homes that integrate seamlessly with their digital lives, offering features like remote security monitoring, smart lighting, and automated climate control.
While affordability and convenience are paramount, this generation is also open to innovative ownership models.
Shared ownership, co-living spaces, and flexible financing options appeal to their desire for financial security and adaptability.
For estate agents and developers, understanding the unique needs of Gen Z buyers is essential. Goosen emphasises the importance of engaging with this audience through digital platforms and transparent communication.
“This generation does their research. They value honesty, efficiency, and a personalised approach,” he said.
As Generation Z continues to enter the property market, they are reshaping it in ways that reflect their values and aspirations. “Their approach is practical yet forward-thinking. They’re not just buying homes; they’re investing in a lifestyle,” Goosen further said.
BUSINESS REPORT