Gauteng homeowners leave the province

Pam Golding Properties Group CEO, Andrew Golding said the increase to approximately 10% is the highest it has been in years.

JOHANNESBURG - The emigration related property sales are at a decade high in South Africa, according to Pam Golding Properties.

READ: What are the tax implications when emigrating?

The Residential Property Report said most of those emigrating are from Gauteng.

The report stated this contributes to the province's weak housing market.

Pam Golding Properties Group CEO, Andrew Golding, said the increase to approximately 10% is the highest it has been in years.

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Golding said people are also leaving Johannesburg in order to settle in other parts of South Africa.

He said, "those areas which are traditionally, mainly leisure markets are now becoming primary markets and the fundamental reason for this is about affordability."

"Small town South Africa and leisure town South Africa has become a primary destination, I think with technology these days we're also finding that people are able to conduct their businesses from different parts of the country as opposed to having to be in the major centres and that's having a positive effect on pricing in those towns."

Source
eNCA