Businesses are making their way from other towns to the City of Cape Town for its reliable service delivery.
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According to BusinessTech, the semigrations have been not limited to businesses but the trends extend to families.
Lew Geffen Sotheby’s International Realty’s Commercial Property Chief Operating Officer (COO) 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 (31.68%) 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 (23.10%),” Townes said.
In the past three years there’s up to 24.2% relocation for better service delivery.
Migration to the country has been driven by “moves for bigger/better premises (22.10%), closer access to markets (22.00%), better transport access (18.40%), and downscaling (3.70%) followed the need for reliable service delivery”.
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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