from DION HENRICK in Cape Town
Western Cape Bureau
CAPE TOWN, (CAJ News) – MORE South Africans are emigrating internally, mostly taking their families and businesses to Cape Town.
The trend, otherwise known as semigrating, sees Cape Town as a better option than emigrating for wealthy Durban and Gauteng residents.
This as the cost of living in other first world cities around the world is higher.
Cape Town also provides a familiarity and similar level of lifestyle that is much lighter on the wallet.
According to Expatistan, a cost of living calculator, living in Toronto is 86 percent more expensive than in Cape Town.
Brisbane is 72 percent higher.
London costs 134 percent more than living in Cape Town.
Experts noted these factors along with the current hybrid work model are all playing in Cape Town’s favour.
Cape Town has been voted the eleventh best city in the world.
Axis Property Group has noted a big trend of Germans buying in Cape Town.
It specialises in the development of luxury homes in Cape Town’s most sought-after neighbourhoods along the Atlantic Seaboard.
Axis recently sold one of its garden apartments at the La Croix development in Fresnaye for R27,5 million (US$1,6 million).
The buyer is a South African living in the United Kingdom.
– CAJ News