Homecoming sentiment of SA expats bodes well for the residential property market

“When South Africa gets its socio-economic and political ducks in a row, two-thirds of the more than half a million South Africans living abroad could emerge as one of the biggest single drivers of a turnaround in the residential property market.” 

Ronald Ennik, CEO of Ennik Estates, bases this view on the results of an international survey which highlights the homecoming potential of South Africans living in foreign countries.

“Commissioned by Johannesburg-based Homecoming Revolution, the research shows that, given an improvement in economic opportunities and the provision of a safe living environment, 64 per cent of South African expatriates would be interested in returning to South Africa.

“This translates into 376 500 potential ‘homecomers’ out of the total of 588 388 South Africans living abroad at the last count (in 2010) by the Organisation for Economic Co-operation and Development,” says Ronald.

“That’s a lot of extra home buying oomph – even at half of the potential expat return rate reflected in the survey.

“And, taking into account that they wouldn’t all arrive within the same time frame, the returning buyers would provide a sustained transfusion of demand that has been lost to the SA homes market for decades,” adds Ronald.

Pie in the sky?

“Not at all,” says Ronald.

An unfolding trend

“I first became aware of, and commented on, the property market implications of this unfolding trend 18 months ago – based, at the time, on strong anecdotal evidence. 

The trend has now been given credence not only by the Homecoming Revolution research, but also by the results of a subsequent Rhodes University/Sable Accelerator survey of Old Rhodians living abroad – in which 48 per cent of respondents are reported to have shown interest in learning more about incentives to relocate back to SA.  

“Government, the private sector and the unions are all aware that South Africa has reached a critical turning point after 20 years of democracy. They all know what needs to be done – economically, socially, and politically – to put our country back on an even keel. 

“I believe that once the distraction of the election in April 2014 is over, we will all be able to go to work on doing just that,” adds Ronald.

 “Most expatriates living abroad still consider South Africa to be their home – not least because they have retained strong family ties in the country,” says Homecoming Revolution founder and CEO Angel Jones.

She describes the organisation as a "one-stop repatriation platform for the skilled African Diaspora" because it showcases emotive case studies, careers, property, schools, relocation services and entrepreneurial opportunities in Sub-Saharan Africa.

  Comment on this Article

  Please login to post comments

Post to my facebook wall
Characters remaining

    Latest Property News
    • 20 Nov 2017
      Since 2012, sectional title complexes have been leading the South African property market, not only in terms of price growth, but sales volumes as well. Remaining relatively strong, even in the face of 2017’s political and economic turmoil, experts say this market segment could offer valuable insight into South Africans’ property purchase priorities.
    • 20 Nov 2017
      Regardless of whether you are purchasing your first start-up home, downsizing or moving in with roommates, finding ways to maximise small spaces can be a big advantage, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
    • 20 Nov 2017
      Property valued at approximately R1 billion is on High Street Auctions’ sales floor during the month of November, including the much-anticipated sale of the Tshwane Mayoral Residence and the land occupied by one of South Africa’s oldest operating gold mines.
    • 17 Nov 2017
      FWJK has announced the launch of its latest residential brand, the Lil’ Apple, which will be launched simultaneously in two developments in Cape Town and Umhlanga totaling 600 apartments. The Lil’ Apple is set to be a brand of FWJK’s New York style apartments which will be rolled out nationally.
    • 17 Nov 2017
      It’s been a tumultuous year on many fronts, with socio-political uncertainty setting the tone for much of South Africa’s economic activity yet despite this and seemingly counter-intuitively, the residential property market has held up well.
    • 17 Nov 2017
      The EAAB (the Estate Agency Affairs Board) recently claimed that around 50,000 illegal estate agents could currently be operating illegally.
    • 16 Nov 2017
      Penthouses are synonymous with New York – characterised by high-rise living that is decidedly luxurious and spacious. While exclusivity comes at a price, you can still create a “penthouse” look and feel in your existing apartment or even the upstairs bedroom of a double storey house with some clever design changes and styling touches.
    • 16 Nov 2017
      The area has long been popular with kite surfers and, with escalating property prices in Cape Town itself, is increasingly in demand with home owners who work in town, but are looking to invest in more affordable properties.
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us