of HENRIK DION in cape town
Western Cape Office
CAPE TOWN, (CAJ News) – MORE South Africans are migrating internally, mostly taking their families and businesses to Cape Town.
The trend, also known as emigration, sees Cape Town as a better option than emigration for the wealthy residents of Durban and Gauteng.
This is because the cost of living in other first world cities around the world is higher.
Cape Town also offers a similar familiarity and level of lifestyle that is much lighter on the wallet.
According to Expatistan, a cost-of-living calculator, living in Toronto is 86 percent more expensive than in Cape Town.
Brisbane is 72 percent higher.
London costs 134 percent more than living in Cape Town.
Experts noted that these factors, along with the current hybrid work model, play in Cape Town’s favour.
Cape Town has been voted the 11th best city in the world.
Axis Property Group has noticed a big trend of Germans buying in Cape Town.
It specializes in the development of luxury homes in the most sought after neighborhoods of Cape Town along the Atlantic coast.
Axis recently sold one of its garden apartments in the La Croix development in Fresnaye for R27.5 million (US$1.6 million).
The buyer is a South African living in the UK.
– CAJ News
