It seems that more and more Saffas are keen to give up the big city hustle and grind for a slower life in a small town. Several small towns in South Africa are seeing far higher sales volumes compared to metros, despite high interest rates and a weak economy. Lightstone even reports that smaller towns are benefiting more than pre-2019. The property group notes via BusinessTech that the Western Cape has grown its share of residential sales since pre-2019, while Gauteng has been the biggest loser.
The most active municipalities in the Western Cape are Overstrand, Stellenbosch and Hessequa, followed by Knysna, Prince Albert, Saldanha Bay, Kannaland, Swellendam, Bergrivier and Cape Agulhas, with Cape Town seeing its share of activity rise from 15% to 17%.