{"id":625324,"date":"2022-10-07T08:30:26","date_gmt":"2022-10-07T06:30:26","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=625324"},"modified":"2022-10-06T14:15:41","modified_gmt":"2022-10-06T12:15:41","slug":"what-r10-million-gets-you-in-south-africas-popular-coastal-towns-ballito-vs-st-francis-vs-plett-and-more","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/property\/625324\/what-r10-million-gets-you-in-south-africas-popular-coastal-towns-ballito-vs-st-francis-vs-plett-and-more\/","title":{"rendered":"What R10 million gets you in South Africa’s popular coastal towns – Ballito vs St Francis vs Plett and more"},"content":{"rendered":"

Despite South Africa being on the edge of stagflation, real estate continues to hold its value in South Africa.<\/p>\n

Meridian Realty said that increased levels of inflation, high-interest rates, and stagnated economic growth can surprisingly be good for property owners as inflationary pressures that are carried on to new developments lift property prices.<\/p>\n

\u201cDuring periods of stagflation, building contractors will continue to expand their construction of homes to meet consumer demand. Stagflation does not decrease demand for homes; however, it causes supply to stagnate and reduces the affordability of completed houses,\u201d said Antonie Goosen.<\/p>\n

Taking this into account, properties located in high-demand nodes could see price hikes. South Africa’s widespread coastline has become a hotspot for the first time, and more established buyers have to relocate.<\/p>\n

Semigration has been on an upward trend, with many property companies, specifically in the Western Cape and areas like Plettenberg Bay, reporting that people are leaving metros in droves as remote working becomes a norm and lifestyle priorities change post the pandemic.<\/p>\n

Property analysis firm Lightstone noted that these areas are the most popular for semigrants:<\/p>\n