{"id":854647,"date":"2026-03-28T17:00:00","date_gmt":"2026-03-28T15:00:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=854647"},"modified":"2026-03-27T15:37:55","modified_gmt":"2026-03-27T13:37:55","slug":"goodbye-cape-town-an-important-group-of-south-africans-are-leaving-in-droves","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/property\/854647\/goodbye-cape-town-an-important-group-of-south-africans-are-leaving-in-droves\/","title":{"rendered":"Goodbye Cape Town \u2013 an important group of South Africans are leaving in droves"},"content":{"rendered":"\n

A recent report noted a reverse semigration trend of skilled young professionals leaving Cape Town for Johannesburg.<\/p>\n\n\n\n

These young professionals are leaving due to affordability pressures and career opportunities, which are major determinants in where people choose to live.<\/p>\n\n\n\n

For years, Cape Town has been a top semigration destination, attracting South Africans with its lifestyle appeal and global reputation.<\/p>\n\n\n\n

However, the cost of living in the city has become increasingly difficult to justify for many younger workers trying to build careers and financial stability.<\/p>\n\n\n\n

A combination of limited housing stock, heightened demand following the COVID-era semigration wave, and an influx of foreign buyers with stronger currencies has driven property prices up.<\/p>\n\n\n\n

As a result, young South Africans are opting out. According to the Wise Move 2025 Migration Report, about 25% of people who left Cape Town last year relocated to Johannesburg, primarily in search of better job prospects and improved financial outcomes.<\/p>\n\n\n\n

This shift has been labelled another reverse semigration trend, where people are returning to the country\u2019s traditional economic hub.<\/p>\n\n\n\n

\u201cSurveys by recruiters such as OfferZen suggest that young South African tech professionals in Johannesburg earn roughly 6% more than their counterparts in Cape Town,\u201d said Mark Stevens, majority shareholder in the upcoming Saxon Square development in Rosebank. <\/p>\n\n\n\n

He added that there are similar trends in finance and corporate sectors, which reflect the city\u2019s role as the country\u2019s primary economic hub. <\/p>\n\n\n\n

For many young professionals, the ability to earn slightly more while spending significantly less is proving decisive. Stevens noted that areas like Rosebank are playing a central role in attracting returnees.<\/p>\n\n\n\n

Rosebank has become increasingly appealing to young professionals relocating from Cape Town because it offers a similar lifestyle dynamic. <\/p>\n\n\n\n

This includes mixed-use precincts, walkable streets and a strong caf\u00e9 and restaurant culture.<\/p>\n\n\n\n

\u201cAt the same time, its position at the heart of the city\u2019s corporate ecosystem allows residents to enjoy a vibrant urban lifestyle while remaining close to many of the country\u2019s top employers,\u201d Stevens added. <\/p>\n\n\n\n

What these young professionals are looking for <\/h2>\n\n\n
\n
\"\"<\/a>
Saxon Square, Rosebank, Johannesburg<\/em><\/figcaption><\/figure><\/div>\n\n\n

While many relocating professionals are looking for neighbourhoods that resemble Cape Town hotspots like Sea Point, they are unwilling\u2014or unable\u2014to match the price tags.<\/p>\n\n\n\n

The cost per square metre for a studio apartment on the Atlantic Seaboard can reach as high as R73,000, nearly double that of comparable developments in Johannesburg.<\/p>\n\n\n\n

\u201cThe barrier to entry for first-time homebuyers in Cape Town remains extremely high, forcing many relatively well-paid professionals to spend the bulk of their income on rent rather than getting their foot on the property ladder,\u201d Stevens said.<\/p>\n\n\n\n

\u201cOur pricing model for Saxon Square is designed to respond to the growing demand from both these \u2018reverse semigrants\u2019 and local buyers for luxury lifestyle living that is still financially attainable.\u201d<\/p>\n\n\n\n

Saxon Square recorded more than R70 million in sales within its first ten weeks, underlining the appetite for developments that combine affordability with lifestyle appeal.<\/p>\n\n\n\n

Stevens also pointed to growing interest not only from owner-occupiers but also from investors, particularly as Johannesburg\u2019s short-term rental market expands.<\/p>\n\n\n\n

\u201cWhat buyers are really looking for is a sense of community, convenience and access to opportunity in one place,\u201d he says.<\/p>\n\n\n\n

This is reflected in the features that are increasingly shaping new developments aimed at younger buyers.<\/p>\n\n\n\n

Proximity to transport hubs and major shopping centres is essential, as is security, with biometric access control becoming standard. <\/p>\n\n\n\n

Many developments now also offer 24-hour concierge services to manage deliveries and visitors, echoing high-end international living standards.<\/p>\n\n\n\n

Equally important are shared, community-focused spaces, including co-working areas for remote professionals, communal braai facilities, lounges and entertainment areas.<\/p>\n\n\n\n

Wellness amenities such as yoga studios, meditation gardens and rooftop green spaces are also becoming key differentiators.<\/p>\n\n\n\n

While Cape Town continues to offer an enviable lifestyle, Johannesburg is increasingly winning over young professionals with better value for money.<\/p>\n","protected":false},"excerpt":{"rendered":"

A recent report noted a reverse semigration trend of skilled young professionals leaving Cape Town.<\/p>\n","protected":false},"author":92,"featured_media":797450,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12755],"tags":[2279,1996,25066,853,25065],"class_list":["post-854647","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property","tag-cape-town","tag-johannesburg","tag-saxon-square","tag-south-africa","tag-wise-move-2025-migration-report"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/854647","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/92"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=854647"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/854647\/revisions"}],"predecessor-version":[{"id":854663,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/854647\/revisions\/854663"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/797450"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=854647"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=854647"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=854647"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}