There has been a significant increase in homeowners selling their properties and relocating to different provinces in the country – an occurrence known as semigration. Markedly, the latest property industry data shows that on average, one in every four homeowners who sell their property and buy a new one are doing so to relocate to another province.
Semigration increase: Uptick in sell-to-buy activity
According to capetownetc, in 2019, around 16% of homeowners were opting to relocate to another province, while at the present time this percentage has increased to 27%.
Markedly, around 50 000 homeowners participated in this sell-to-buy property activity in recent years. This number includes only repeat buyers who move across provincial lines. While most homeowners still prefer staying in their home provinces, the percentage of those doing so is declining at a steady pace.
Where are semigrants moving to?
The Western Cape remains the most popular province as a destination as semigration increases. Coastal regions in particular have experienced a noticeable increase in residents.
Following are areas or towns in the Western Cape that have experienced the biggest inflow of new residents recently:
- Cape Town
- Milnerton
- Mossel Bay
- George
- Somerset West
- Durbanville
- St Helena Bay
- Groot Brakriver
- Knysna
- Hermanus
The Western Cape’s offerings in terms of nature and quality of life are just two of the province’s appealing factors.
Hermanus becoming increasingly popular
The Hermanus real estate market is one of the fastest-growing in the country. Property values are continuously increasing. Although it is a peaceful town removed from the hustle and bustle of city life, it has a host of amenities such as hospitals and schools.
Cape Town one of world’s friendliest cities
Cape Town was recently voted the fifth friendliest city in the world by the 2024 Condé Nast Traveller Readers’ Choice Awards based on ratings by their readers. The yearly awards cover a variety of categories and this year, 575 048 readers cast their votes in the survey.
Gauteng compared to the Western Cape
Gauteng and the Western Cape are the two provinces dominating the semigration market, accounting for a combined 71% of the sell-to-buy transactions. Although Gauteng leads with 48%, it is witnessing a notable decline in repeat buyers choosing to stay within the province. This decrease indicates that more Gauteng residents are looking to relocate, with many choosing the Western Cape as their new home.
The Western Cape has kept a pretty steady retention rate, with 87% of homeowners choosing to stay in the province. This consistency, along with the arrival of new residents, strengthens the Western Cape’s image as the top choice for people looking for a new beginning.
Are you considering moving to another province in the near future?
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