Why The Number Of South Africans Selling Property And Emigrating Are On The Rise


New data released by FNB shows that the number of folks selling their homes to emigrate climbed last year for the first time in about five years. Add to that New World Wealth’s (NWW) report that almost 1 000 South African millionaires left the country in 2015 and it makes for a pretty grim picture.

Interested to find out just why people are looking to leave SA, NWW conducted a survey and found that the overriding factor for people leaving is financial concerns.

Here are the other top reasons people are moving abroad for a better life:

  • Financial concerns.
  • An inability to deal with changing social dynamics in SA.
  • Concerns for their children’s future, specifically around schooling and universities.
  • Crime – rape and hijacking concerns were highlighted.
  • BEE requirements in doing business.
  • Concerns that someone in their family may contract HIV/AIDS due to the prevalence of the virus in SA.
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InterNations last year reported that about half of South Africans emigrating are skilled professionals or managers and a quarter are in top management positions. Talk about a brain drain.

Of those who’ve left Mzanzi only about 13% feel that they’ve made a bad decision, with more than 70% feeling satisfied with the move.

InterNations reports that the largest factors for people emigrating are crime, personal safety, SA’s increasing cost of living, the economy and the country’s labour market.

According to John Loos from FNB, the percentage of emigration-related property sales increased to 4.4% in 2015, up 2.2% from 2013.

source: The South African.com

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