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Meanwhile, in the background, first-time buyers and investors were flooding to the developers’ sales offices to snap up these tiny apartments.
The sheer speed of the sales was almost unprecedented. Micro-apartments at Newlands Peak in Newlands (by Rawson Developers) sold out entirely on launch day. BlackBrick Cape Town in the city’s CBD (by Ryan Joffe Properties) sold 60% of its micro-units in its first week. The Flamingo in Sea Point (by Signatura) enjoyed similar success, with only 5 of its compact studios still listed as available. 
So, what is the secret behind the appeal of these controversial, small-space properties?
“One of the biggest and most obvious attractions of micro-apartments is their relative affordability,” says Brad Morgan, Head of Marketing at Rawson Developers. “With interest rates as low as they are today, first-time buyers can get their hands on a micro-unit in a top-tier lifestyle development for a very similar monthly outlay to what t ....

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