select
|

Low emigration levels boosting the SA house market - but are not yet complemented by increased foreign buying in SA

One of the most heartening aspects of the South African property market in recent months, says Mike van Alphen, National Manager of Rawson Finance, has been the decline in the number of people selling to emigrate. 

Quoting figures from the latest FNB Property Barometer, van Alphen said that 2008 saw emigration from South Africa reaching a peak: in the second quarter of that year, just on 20% of home sellers were emigrating. 

Today, says van Alphen, the FNB figures indicate that only 2.7% of home sellers are leaving South Africa.  This figure, calculated on the first quarter of this year, is 0.6% down on the previous quarter (the last quarter of 2012), when it was 3.3%.  Right now, there are a fair number of South Africans who are still considering emigration, however, they are deterred by the low growth and employment prospects in many of the popular destinations. Nevertheless, he says, it also seems clear, from recent figures, that South Africans still living here are more resilient to economic uncertainties and less perturbed by such factors as crime, corruption and unsatisfactory growth rates.

“In general, judging from conversations with our clients, it appears that they are able to take the long term view and this is now, on the whole, more positive than we have seen for some time. This is no doubt one factor, albeit by no means the most important, why the Rawson Property Group is seeing significant rises in sales this year.”


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 16 Feb 2018
      Whether you own a property in a sectional title complex or are looking to invest in one, the financial standing of the body corporate is the single most important thing that can affect your investment or your buying decision.
    • 15 Feb 2018
      One positive consequence of the financial crash in 2008 was the rise in consumerism, especially in the property market, where buyers have steadily become more knowledgeable and more value conscious.
    • 15 Feb 2018
      While most homeowners will take the agent’s commission into consideration when they are trying to determine what the will get out from the sale of their property, many often forget to factor in the other costs involved in a home sale, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
    • 14 Feb 2018
      The forecast for the national rental market in 2018 remains a mixed bag of good news and bad news. Although rentals are expected to rise slowly as the challenges of home affordability and tighter lending criteria tighten their grip, it’s a double-edged sword as the market also will come under increasing pressure from factors like declining disposable income levels.
    • 14 Feb 2018
      While you may not have intended to place your home on the market, what do you do if you receive an unexpected offer on your home? In areas where demand outweighs the current supply of homes available to buyers, it is not unheard of to have buyers make offers on homes that aren’t on the market, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
    • 14 Feb 2018
      If you are looking to sell your home this year, Debbie Justus-Ferns, divisional manager of Renprop Residential Sales, says that there are five crucial things to do before the ‘for sale’ sign goes up.
    • 01 Feb 2018
      February is the month of love and to celebrate we will be posting about all the things we love this month. Follow the #MyPropertyLoves hashtag to keep up with our favourite things.
    • 01 Feb 2018
      After saving up and months of searching for the right home, applying for a bond and patiently waiting for the keys to the front door, it is finally time to cross the threshold and move into your new home. Now what?
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK