There are a number of reasons why more and more people are wanting to cross the ocean for “greener pastures”.
Whether or not things are actually greener on the other side is up for debate.
Either way, a staggering number of people are selling their homes and leaving the country.
You could look at selling your house fast and moving to San Diego.
According to BusinessTech, the FNB Estate Agents Survey revealed some interesting stats that seem to suggest the beginning of a mass exodus.
The survey found that the first quarter of 2019 had a massive increase in people selling their homes to leave the country.
Their average estimate for “serious viewers per show house prior to sale” was 9.97 viewers per show house, virtually the same as the estimate of the prior quarter.
This, however, still languishes behind the historical average of 11.95 viewers since 4Q06, noted FNB economist, Siphamandla Mkhwanazi.
It’s not all about packing up and leaving though.
FNB said Estate agents perceive “Downscaling because of life stage” as still the most prominent reason for selling a property in South Africa, with such sales accounting for 23% of all sales, flat from the previous quarter.
However, emigration-driven sales now account for 14.2% of all sales, a big jump from 10% in 4Q18.
“In fact such sales, according to estate agents, have doubled in the past two years and are, as expected, more prominent in the coastal areas and in upmarket segments,” Mkhwanazi said.
Here’s a handy breakdown of some of the primary reasons for selling:
If you feel you can’t relate to any of the above because you’re still living as you did in your early 20s, house sharing with singles in digs, you might be ahead of the trend.
According to the FNB survey, there is a rising trend in “communal living property purchases”, which basically means you and your tjommies are buying property hand in hand and sharing the expenses.
So, don’t sell and move away, rather get your mates together and buy a house.
Did someone say “Project X”?
[source:businesstech]
