Semigration pushes up house prices in coastal areas
Exodus from Gauteng behind surge in demand for real estate in the Cape
31 December 2023 - 08:26
The rise in “semigration” from Gauteng to the coastal areas is causing a shortage of residential units in parts of the Western Cape, according to real estate firms. They are also expecting a drop in interest rates to boost activity in the residential property market next year.
Semigration refers to the phenomenon of people selling inland properties and moving mainly to coastal regions, particularly in the Western Cape. It is a rising trend as more middle-class families seek better services, safety and security...
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