Goodbye Mother City As Semigration Shift Impacts Sa's Housing Landscape

As South Africa grapples with economic challenges, the narrative surrounding property ownership is experiencing a dramatic shift, reports Cape town Etc .

While Cape Town remains a notable exception with soaring house prices, a growing number of residents are reconsidering their choices, prompting a potential exodus back to Johannesburg driven by affordability and economic realities.

Cobus Odendaal, CEO of Lew Geffen Sotheby's International Realty in Johannesburg and Randburg, highlights a significant increase in inquiries from individuals contemplating a return to Johannesburg.

In recent months, we've started fielding a growing number of enquiries from people looking to move back to Johannesburg, with particular interest in properties at the higher end of the market, he details, indicating a trend that has sparked conversations across South Africa.

The appeal of the Western Cape that once drew many outward has been marred by escalating property prices, which have surged by 25 over the past five years. Those who sought a lifestyle change and better governance now find themselves weighed down by the higher costs of living, with inflation demanding their attention.