Cities are a hive of capital and innovation, built for the masses, however, this, in turn, is the reason why they become the epicentres during pandemics, such as COVID-19. Since the outbreak, city dwellers have encountered a much different reality than those living in smaller communities and more rural areas.
Higher infection rates, shortages of basic necessities, and density levels have urged many urbanites to explore semigration and purchasing real estate outside of the city.
The unceasing transmission of the virus means areas with large populations are becoming less attractive, and as a result, has changed what people see as desirable in terms of living space and neighbourhood density.
With a growing preference for safer, more private surroundings, and considering the aversion to high-risk infection areas, small towns could offer many the lifestyle they are after when it comes to real estate in South Africa.
Is Country Living A More Sustainable Option During COVID-19?
Semigration is an ongoing trend that influences the property market in the country. Whether for investment, cost reductions, or a desire for a quieter way of life, people are continuing to invest in smaller towns.
Foreign Policy's recent analysis on city life after the pandemic affirms this, "While it is impossible to predict what the new normal will be, it may well be reverse urbanisation." In either instance, South African real estate is ripe with small-town living options that provide the benefits of the countryside lifestyle, without sacrificing the community aspect.
This is not to say that major metros don’t remain high demand regions for real estate investment, it simply means that in a post-COVID economy people are going to start investigating alternative options. The beauty of the South African real estate landscape is that our diverse markets and wide variety of country living options provide buyers with ample options.
Statement by
Richard Gray
CEO Harcourts South Africa