Johannesburg has long held the title of the ‘business hub’ of South Africa. However, a pandemic, civil unrest and a change in people’s mindsets from ‘work to live’ to ‘work and live’ have switched things up – and all eyes are on Cape Town.
Recent data has emphasized that the top-rated region in the office market in SA is now Cape Town, where the highest activity rankings are allocated.
Activity refers to the interest in buying, inquiring and viewing properties in the office space.
The retail sector and industrial properties also boomed for Cape Town, especially compared to just six months ago, as FNB property strategist John Loos expresses. This indicates that the place for new businesses who are looking to have a ‘traditional’ grip on things (ie: an office-focused space) are plunging their new roots in the Cape.
Beyond business moves of this nature, semigrations to the Cape are expected for 2022. This is largely due to the one gift the pandemic gave many – the opportunity to work remotely. As the ‘Great Resignation’ continues to sweep through the world, people are placing more emphasis on the option to work from home, largely with the argument that excuses to come into an office just aren’t cutting it anymore.
And if you’re going to be working remotely, why wouldn’t you want to live in a space brimming with land and seascapes, lifestyle dreams and activities to keep your bucket-list bottomless – if you can afford it.
For many years, Cape Town has been a major lifestyle city, which has been enhanced by the tourism aspect and coupled with the natural energy of our home. Of course, locals know that this all comes with a price. Duped are people who think that most of these pleasures come freely. However, the willingness to work and flourish in a city designed around experiences sounds very attractive to many.
Johannesburg has often been criticized for not being a major lifestyle spot, rather opting for its quest for metaphorical gold.
Another reason for the semigration mindset? Beyond the pandemic, the riots in other parts of SA last year (Namely KwaZulu Natal and Gauteng) hit various metros hard. Cape Town largely escaped the riot crisis – leaving the city to have the upper hand in some social-economic realms in the country.
As Loos further notes, Jozi’s challenge now is to find its big competitive advantage.
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Picture: @funlifedesignlab