What you need to know about real estate in Cape Town before relocating

Many Gautengers dream of leaving the hustle of the big city for a slower pace of life in beautiful Cape Town. But before you relocate, consider the following about property on the coast

Sadly, many fail to realise these dreams because they’re held back by the belief that the drop in income and property size will be too significant. Many Gautengers may see themselves moving from a four-bedroom home with a pool to a two-bedroom flat – but with good planning and research, a shift to the coast can become a reality.

This is according to David Gibbons of online realtor PropertyFox who recently “semigrated” from Joburg to Cape Town in search of a less hectic, more outdoorsy lifestyle. “I sold up, quit my corporate job and relocated to Cape Town,” he says. “The move was challenging; there were sacrifices – but if you go in with your eyes wide open you can keep costs low and maximise returns.”

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The trend towards semigration isn’t new and shows no sign of slowing down. In 2016, radio station Cape Talk reported that 20 to 30% of buyer enquiries in the Western Cape came from Pretoria and Johannesburg residents looking to make the move.

Business Tech quoted a 2017 FNB Repeat Home Buyer Study that found the Western Cape’s repeat buyer net inflow comprises a whopping 17,4% of the province’s total repeat buys. The same study reported that 56,2% of Gauteng’s “semigrants” opt to relocate to the Mother City. So why Cape Town? Most research points to a long-term investment in lifestyle.

Gibbons said PropertyFox often hears from people in their forties or fifties who want to sell their first or second homes in Gauteng and move to the coast. “We feel strongly that they can make their dream work for them. The key lies in limiting their loss in the transaction process. By shopping around for a low-commission-based estate agency to sell their Joburg property, they can keep their fees down, and potentially save a significant sum to contribute to the expenses of the move, and possibly some of the down payment on a new Cape Town home.”

Gibbons learnt a few things about relocating to the Cape and offers valuable advice.

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