Around the world, one of the most important current trends isn’t about property price or interest rate movements, it’s about people and where they are choosing to live. We have clearly seen the effects of this in SA in recent years with the semigration of many people away from the inland provinces to the Western Cape and other coastal destinations, in search of better lifestyles. And now it is becoming increasingly evident globally as affluent individuals and families relocate to different countries at a faster pace than ever before and invest significant amounts to acquire alternative residencies as well as additional homes.
A recent study by Swiss investment bank UBS found that 36% of its billionaire clients had relocated in the past year, and that another 9% were considering doing so. Meanwhile global citizenship and residence planning firm Henley & Partners estimates that more than 160 000 high net-worth individuals (HNWIs) are expected to relocate permanently or semi-permanently by the end of this year.
This “great wealth migration” is mostly being driven, says UBS, by political instability, tax considerations and, increasingly, the search for safe environments. As we have seen on a smaller scale in SA, this trend is no longer just about the acquisition of second or holiday homes in attractive locations, but about finding and settling in places that offer long-term safety and stability for families and businesses.
There are many benefits for countries- and regions - that attract this type of migration, including inflows of capital, entrepreneurial talent and long-term investment that stimulate local economies, create jobs and strengthen property markets and on the global stage, SA is rapidly gaining a bigger role in this story.
Against a backdrop of geopolitical uncertainty and ongoing conflict in parts of the world, including the Middle East, our country offers a rare combination of lifestyle, climate, established financial systems, world-class property and geographic distance from global conflict zones. For many, it is emerging as a compelling safe haven and value destination, offering both quality of life and long-term security, and we are seeing this clearly reflected in growing international interest and inbound enquiries.
However, relocation is a complicated business, especially when purchasing real estate in a new country or city. It requires property professionals you can trust, careful timing, regulatory awareness and seamless co-ordination across borders – and this is where Chas Everitt International is uniquely positioned to add value.
As a proud member of Leading Real Estate Companies of the World (LeadingRE), we can personally connect clients who are relocating to a global network of professionals who we know and trust to work with us to help facilitate smooth transitions into or out of SA. All clients within this network benefit from the coordinated expertise and aligned standards of its members, as well as access to professionals who understand local nuance and compliance in more than 70 countries, as well as the complexities of international relocation.
Closer to home, we operate a national referral network that ensures the same level of care for clients relocating within SA. Whether the move is to a new suburb, city or province, we understand the need for proactive communication and a coordinated approach by trusted agents that provides clarity, continuity of service and confidence in the process.
This all means that in a world where mobility is becoming a norm, we are committed and able to provide trusted, reliable and knowledgeable guidance wherever our clients may want to go, in SA or further abroad, so that they can relocate easily and with peace of mind.
