Semigration in South Africa is the movement of people within the country, seeking better lives and opportunities. Recently, many families have been leaving Cape Town, known for its stunning views, due to rising living costs and moving to more affordable places like Johannesburg and the Eastern Cape. In Johannesburg, they find good jobs and lower housing prices, while smaller towns along the coast, like Plettenberg Bay, offer a peaceful lifestyle with a strong community feel. Families are embracing these new areas, balancing their dreams with practical living conditions and creating a vibrant tapestry of stories across the country.
Cape Town is predicted to become Africa’s wealthiest city by 2030, according to the African Wealth Report. Driven by internal migration of highnetworth individuals and an influx of retirees, the city is already home to the secondhighest number of millionaires in Africa, and its picturesque landscapes and attractive suburbs make it a center for wealth in the region. Corporate giants are also planning to move their offices to Cape Town in the upcoming decade, contributing to its economic expansion.
The Southern Suburbs of Cape Town are experiencing a surge in popularity due to semigration, resulting in a significant impact on property prices. The suburbs of Newlands, Rondebosch, and Claremont are in high demand for their peaceful ambiance and proximity to vital facilities. However, there is a limited supply of houses available at current average selling prices, making the market highly competitive. This shift in urban living dynamics is reflective of a growing yearning for a balanced lifestyle, open spaces, and peace.