The recent spike in semigration has seen market activity soar in the Western Cape once again, with many agents reporting an exceptionally busy festive season and a deluge of enquiries not only from upcountry but also abroad.
“The increase in the secure environment trend also partly often driven by a growing number of families who are relocating for a favourable lifestyle but where the husband or wife has to regularly commute to another city. Apart from local families from Kwazulu Natal and Gauteng who have chosen to ‘semigrate’ to Cape Town, there also appears to be a revival of foreign interest,” said Thomas.
“We had an excellent year in 2020, but 2021 doubled that turnover and our office was involved in R877 million worth of sales this year alone. Most of our buyers are from Gauteng , followed by locals – although I suspect some of these are people that recently moved here from Gauteng – and Cape Town investors account for around 8%, which has dropped from 12% in 2020.”
The group’s Knysna and Sedgefield office also enjoyed an exceptional season, according to director, Richard Foyn. “The number of Gauteng buyers has also risen but so has the percentage of Garden Route buyers as many are moving from one town to the next or are downsizing their current homes.” “The market activity in George and Wilderness has grown steadily since 1 June 2020, with the result being that we now have almost zero stock levels and look forward to several new developments becoming available from June this year.
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