Semigration – where South Africans move between provinces - has overtaken emigration as a key driver for house sales in SA's largest metros, according to property data compiled by FNB.
Emigration-triggered property transactions, meanwhile, fell from around 18% of sales in 2019 to an average of 9% this year. Purchases of houses by foreigners have also dipped. While SA's weakening rand has made the country an attractive value proposition, sales have fallen to 3% of total volumes, lower than the long-term average of 4.2%.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: mybroadband - 🏆 11. / 67 Read more »