More residents from other South African provinces are semigrating to Cape Town and the Western Cape than ever before – snapping up properties close to good schools, amenities, and lifestyle offerings.
Semigration (when a buyer sells a property in one province and purchases a new one in a different province) to the Western Cape is sharply on the rise due to Covid-19 which has birthed a new era of remote working – making it easier for professionals to live, work and play in their preferred province – no longer having to wait until they retire to live by the sea.
The main findings of an assessment of semigration trends were recently presented by Lightstone Property group to the virtual Real Estate Industry Summit. Movement to Cape Town, Milnerton, and Durbanville, were highlighted as areas that are seeing some of the most semigration.
A substantial increase in homeowners is moving out of Gauteng an increase from 39% in 2019/2020 to 43% in 2021, the second-biggest migration was from Kwa-Zulu Natal, at an average of 14 percent; and third, was the Eastern Cape which has seen an increase from 7% in 2015 to 9% in 2021.
Some reasons for semigration include:
People move to cities and towns in municipalities with functional service delivery, better governance, a safer environment and a better quality of life.
The trend does not look set to die out any time soon, and will continue to shape the real-estate landscape in the province as more developments and offerings are tailored to the wants and needs of these new residents.