(Image: chatgpt)
Many South Africans believe that the grass is greener across the pond. But, years after leaving SA, many expats are returning to their home countries to retire, raise families or reinvest in the local property market, and they are using their strong foreign exchange earnings to do so.
Only Realty Property Group CEO Grant Smee says property professionals, wealth managers and recruitment firms are seeing increasing interest from South Africans abroad, many of whom are looking to buy a home locally. “For some, it's about retiring or raising a family in a lower cost of living environment; for others, it's simply about reinvesting in a market they still understand and believe in,” he said.
He believes that one of the biggest factors for these returns is changing patterns of work. The rise of remote and hybrid work means they can continue to work for companies abroad and earn foreign currency while enjoying a good life and low cost of living in SA. Smee said, “The traditional emigration model was built around relocating for opportunity. Today, many professionals are able to earn competitive international salaries while choosing to live where their quality of life is highest.”
while in homes Many parts of the Western Cape are expensiveThey are still more affordable than cities popular among expats like Sydney and London. Education is another factor, with good private schools being significantly more affordable than their international counterparts.
One thing that these migrants are worried about when they return is safety, as they have become accustomed to living in places with low crime. This led to increased interest in security estates and sectional title properties.
Smee believes the new interest from returning South Africans reflects changing perceptions about value rather than simple nostalgia. “The reality is that South Africa still offers something that many global cities are increasingly struggling to provide, which is a high quality of life at a relatively accessible price point, particularly for foreign exchange earners or returnees with offshore capital,” he said.
“For these buyers, reinvesting in the local property market is no longer just about ‘coming home’. It is about finding the right balance between lifestyle, security, convenience and long-term value.”
So, while it may be better to earn power abroad, expatriates are beginning to accept that there is no place like home.
(Source: businesstech)