Although many young South Africans are calling it quits, foreign nationals are drawn to South Africa’s value-for-money property market.
Many foreigners are drawn to South Africa as a retirement destination due partly to the value-for-money property prices.
In a parliamentary Q&A last year, then Minister of Home Affairs Aaron Motsoaledi provided the total number of retirement visa applications received and approved, as well as the countries from which these applicants came. The data also reveals that the top five countries for retirement visa applications are the UK, China, Germany, the USA, and Bangladesh, accounting for 1,824 of the total applications., said that the main reason that foreigners move to South Africa is the standard of living, as euros and dollars can afford these foreigners a better lifestyle and a cheaper cost of living.
Expensive South African properties also tend to be detached and separated from their neighbours, whereas English houses tend to be built next to each other—more akin to a townhouse than what South Africans would consider a house.
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