When it comes to real estate, the mantra has always been "location, location, location". But now, as congestion and sprawling development increase rapidly, that mantra is being modified to include "accessibility".
"The severe traffic congestion, which is getting worse every year as the number of cars on the roads increases, particularly in Johannesburg, could soon negatively affect property values for all property types, including retail, office and residential property."
"New office blocks, for instance, and large regional shopping centres in congested areas are becoming increasingly less accessible for office workers and shoppers, who may spend several hours trying to reach these destinations."
"The solution may lie in the creation of more mixed-use developments where people can live, work and play in the same area."
FULL STORY: Congestion creeps up on property values
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