News24.com | Right here’s the put South Africans are shopping their 2d or third properties

About 57% of individuals who own two properties prefer to own these in the same province.

About 57% of folks who have two properties assign to have these in the equal province.

Gauteng is the province of desire for owners of two or extra properties, says Lightstone, suppliers of property recordsdata analytics.

The Lightstone dataset integrated folks who owned two or extra properties in varied provinces, moreover because the amount of properties owned by multiple property owners.

Of the owners with two properties in varied provinces (whose first property was once sold in Gauteng), 31% bought their 2d property in the Western Cape and 26% opted for KwaZulu-Natal.

“This might perchance well correspond with our outdated findings that one out of seven folks who have two properties has a minimum of one primarily based on the fly,” says Hayley Ivins-Downes, head of gross sales for Lightstone.

Not easiest the fly

“Even if this comes as no surprise fervent about the exodus to coastal regions over holiday classes, it be been attention-grabbing to glimpse the put multiple property owners who first bought houses on the fly dangle chosen to make investments in their 2d and/or third properties.” About 54% of folks who bought their first property in the Western Cape selected Gauteng to make investments in their 2d property, whereas 13% selected the Japanese Cape and 12% elected KwaZulu-Natal because the province of desire for their 2d rob. 

About 63% of folks who sold in KwaZulu Natal, selected Gauteng to make investments in their 2d property, followed by 17% electing for the Western Cape. When Lightstone regarded on the facts for property owners with extra than two properties in varied provinces, the picture appears to be like to be identical, with 52% of multiple property owners primarily based in KwaZulu Natal, and 47% of those primarily based in the Western Cape deciding on Gauteng as primarily the most well most well-liked province to make investments in.  

The shatter up is an equal 27% between the Western Cape and KwaZulu-Natal because the province of desire for further property purchases when reviewing multiple property owners with extra than two properties all over varied provinces.

Evaluation of the amount of properties owned, reveals that 57% of folks who have two properties assign to have these in the equal province, whereas 44% of two or extra properties are owned by a non-public person all over provinces.

Compiled by Carin Smith

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