Lew Geffen Sotheby’s International Realty’s Commercial Property Chief Operating Officer Brent Townes added that the semigration has resulted in rise in demand of commercial properties.
“According to the report, the primary reason for moving premises in the fourth quarter of 2022 was financial constraints which doesn’t come as a surprise; however, what is notable is that the second most commonly cited reason was to relocate to an area with more reliable utilities and municipal services ,” Townes said.
The City is also an attractive option due to less loadshedding than the rest of the country thanks to the production of hydroelectricity manufactured at the Steenbras Dam.
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