South Africans who left the country are returning to retire rich
After years of leaving South Africa, a growing number of expats are returning to retire, raise families, or reinvest in the local property market, using foreign currency earnings that give them significant buying power.
According to Grant Smee, CEO of Only Realty Property Group, property professionals, wealth managers and recruitment firms are seeing increased interest from South Africans abroad.
These expats are looking to buy homes locally, even though there is no definitive data yet measuring the scale of the trend.
“For some, it’s about retiring or raising a family in a lower cost-of-living environment; for others, it’s simply about reinvesting in a market they still understand and believe in,” Smee said.
He explained that changing work patterns have become one of the biggest factors encouraging people to return.
The rise of remote and hybrid work means many professionals can continue working for overseas employers or earn foreign currency while living in South Africa.
This allows them to enjoy a comparatively lower cost of living without giving up international career opportunities.
“The traditional emigration model was built around relocating for opportunity. Today, many professionals are able to earn a competitive international salary while choosing to live where their quality of life is highest,” Smee said.
He added that this financial advantage is also influencing where returning expats choose to buy property.
While homes in premium areas of the Western Cape can command high local prices, they are cheaper than similar properties in cities such as London or Sydney when purchased with offshore earnings.
“As a result, the Western Cape continues to attract significant interest from returning South Africans seeking a combination of lifestyle and investment value,” Smee said.
Education is another major consideration for families moving back. South Africa offers access to respected public and private schools at costs that are substantially lower than those in many overseas destinations
This makes the country an attractive option for parents facing rising education and childcare expenses abroad.
“Many returning families are evaluating far more than property prices. They’re looking at the overall cost of raising a family and the quality of life available to their children,” Smee noted.
Security remains a priority
Many returning parents also value outdoor lifestyles, sporting opportunities and the chance for children to grow up closer to extended family.
As a result, established family suburbs in Cape Town and Johannesburg continue to attract strong demand from returning buyers.
However, security remains a priority. After spending years overseas, many expats prefer homes that offer enhanced protection while requiring less day-to-day management, particularly if they continue to divide their time between countries.
This has boosted interest in security estates and sectional title developments, particularly along KwaZulu-Natal’s North Coast, where coastal living can be combined with controlled access and dedicated security services.
Smee believes the renewed interest from returning South Africans reflects changing perceptions about value rather than simple nostalgia.
“The reality is that South Africa still offers something many global cities increasingly struggle to provide, which is a high quality of life at a relatively accessible price point, particularly for those earning foreign currency or returning with offshore capital,” he said.
“For these buyers, reinvesting in the local property market is no longer simply about ‘coming home.’ It’s about finding the right balance between lifestyle, security, convenience and long-term value.”
He added that these priorities increasingly mirror those of the wider South African property market, providing an indication of where future housing demand is likely to be concentrated.
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