People are moving to this ‘European grade’ part of South Africa to avoid the country’s major problems

Despite the impact of the Covid-19 pandemic on South Africa’s property market, the Western Cape has remained relatively unscathed and continues to attract both local and foreign buyers to upmarket suburbs such as Constantia.

Data from the Seeff Property Group shows that Constantia is one of the few neighbourhoods which has achieved the best activity since the last housing boom (2015-2017) with transactions of just under R2 billion and a record number of R20 million-plus sales. Bishopscourt meanwhile achieved the highest sales in over five years including a handful above R20 million.

Sea Point also achieved the highest activity since the last boom with transactions worth R1.3 billion.

Steve Thomas, secure estate specialist for Lew Geffen, Sotheby’s International Realty in Cape Town’s Southern Suburbs, says that one of the most compelling drawcards is the fact that the Western Cape is perceived to enjoy the best governance in the country with higher standards maintained than in any other province.

“The Western Cape is seen as a more stable, high-quality, well-governed European-grade region. It offers an enviable lifestyle and a great climate along with well-maintained roads and good general infrastructure, world-class amenities such as hospitals, a choice of top-rated schools and a wide selection of desirable real estate.”

While these sentiments are most common among foreign buyers, Thomas said that it is clear that local South Africans also see a difference in lifestyle in the Western Cape compared to the other parts of the country.

“Most locals appreciate and greatly value the unique lifestyle offered within this micro-governed area and far fewer leave the area than move into it.

“The main concerns are infrastructure and civil stability – or degeneration thereof. And the fact of the matter is that few well-educated persons with skills this country needs will willingly invest hard-earned capital unless the returns, stability and/or quality of life are sustainable.”

Read: With interest rates rising – should you fix your bond in South Africa?

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People are moving to this ‘European grade’ part of South Africa to avoid the country’s major problems