Semigrants return to Joburg as Cape Town costs soar

FOR years, Johannesburg has been feeling the effects of a mass migra- tion to the Western Cape, with many South Africans lured by promises of picturesque scenery and a more laid- back lifestyle. However, a recent trend suggests that for some semigrants, the grass isn’t as green as it seemed on the other side.

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According to Cobus Odendaal, CEO of Lew Geffen Sotheby's International Realty in Johannesburg and Randburg, there is a growing wave of inquiries from individuals exploring the possibility of returning to Johan- Rensburg to reclaim a foothold in a more affordable housing market.

Odendaal notes that the appeal of the Western Cape has primarily stemmed from desires for a lifestyle change and perceived improvements in governance.

However, the recent surge in the region's property prices — soaring by 25% over the last five years - has begun to weigh heavily on those who made the leap.

In stark contrast, Johannesburg property prices have increased by a more modest 12%, compelling many to reconsider their decision amid rising economic pressures such as inflation and interest rates.

“In recent months, we've started fielding a growing number of enquiries from people looking to move back to Johannesburg, with particular interest in properties at the higher end of the market,’ explained Odendaal.