Gqeberha is witnessing an influx of home buyers and renters semigrating from Gauteng, according to Pam Golding Properties, many of whom are looking to rent first, before buying, to familiarize themselves with the area.
Aside from newcomers, estate agents have found that many sellers already residing in Gqeberha are – or become – repeat buyers in the city, especially those in their late twenties to early thirties, as well as those up to around fifty years of age.
Notably, the Eastern Cape had the second-highest percentage of applications for investment or buy-to-let properties at 15.2% during the first ten months of 2024 according to ooba Home Loans. The province has also recorded the strongest demand for holiday homes at 1.3% of applications during the period when compared to 0.35% for SA overall.
According to Justin Kreusch, an area principal for Pam Golding Properties in Gqeberha, the bulk of those relocating for work between thirty and fifty years of age include professionals in the medical and engineering industries, as well as those employed in the vehicle industry with many individuals and families having relocated due to the new Shoprite Distribution Logistics Centre.
He says that they have also witnessed numerous families relocating from the Cape with reasons cited that Gqeberha offers the same appealing coastal living but with an improved lifestyle – with no traffic issues, at a much more affordable rate with excellent value for money homes, especially at the top end.
Homes to rent cater for this market range from around R18 000 to R25 000 per month while residences to purchase vary from R2.5 million and up for apartments through to family homes. However, there are numerous affordably priced complexes around town, and a variety of established suburbs that offer good opportunities for home buyers.
