While some of South Africa’s top 10 non-metros have experienced sluggish property price performances in recent times, others such as Middelburg in Mpumalanga, have grown robustly.
Data from analytics firm Lightstone shows that smaller towns are benefitting as they attract new property owners who can work remotely, while most cities are grappling with failing businesses and rising unemployment.
Hayley Ivins-Downes, head of digital at Lightstone Property, said all the non-metros share certain characteristics to a greater or lesser extent – growing populations, dominated by lower-income levels, with a pressing need for formal housing to replace informal settlements, improved service delivery and of course investment and job creation.
Lightstone’s ‘towns characterisation’ draws on various levels of location intelligence developed over time to provide a general view of towns in South Africa.
+INFO: Business Tech