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Goodbye Cape Town – new semigration shift hitting South Africa

BusinessTech
Cape Town’s appeal for semigration is waning due to rising costs and challenges, leading locals to seek homes elsewhere. CEO Rhys Dyer predicts a rebound in homeownership demand in Gauteng, fueled by interest rate cuts and economic improvements. The property market responded positively to rate cuts in October 2024, with expectations of increased demand in 2025. Western Cape’s semigration trend, especially to Cape Town, is expected to decline based on recent data.