Why returning South African expats are buying property again – Only Realty comments

Grant Smee, Only Realty Property Group CEO

For much of the past decade, the dominant narrative surrounding South African emigration has been one characterised by a steady outflow of skilled professionals seeking stronger economic opportunities and improved safety in destinations such as Australia, the United Kingdom and the United States.

WORDS: SUPPLIED :: PHOTO: PEXELS

However, property professionals, wealth managers and recruitment firms are increasingly reporting renewed interest from South Africans abroad looking to purchase property locally.

While there is currently no definitive data quantifying the number of returning expats, anecdotal evidence suggests that a growing number are either returning permanently or reinvesting in the local property market.

According to Grant Smee, CEO of Only Realty Property Group, this shift is being driven by a combination of lifestyle considerations, changing work patterns and the relative value offered by South African property.

“For some, it’s about retiring or raising a family in a lower cost-of-living environment; for others, it’s simply about reinvesting in a market they still understand and believe in,” he shares.

Remote work is reshaping the return-home equation

One of the most significant drivers behind this trend is the rise of remote and hybrid work.

Many South Africans are now able to return home while continuing to work for overseas employers or earn income in foreign currency. This allows them to benefit from South Africa’s comparatively lower cost of living without sacrificing international career opportunities.

“The traditional emigration model was built around relocating for opportunity,” says Smee. “Today, many professionals are able to earn a competitive international salary while choosing to live where their quality of life is highest.”

This is also a key reason why returning expats are buying property decisively once they re-enter the market. While homes in areas such as Clifton and Camps Bay command premium prices locally, they remain comparatively affordable when measured against equivalent properties in global cities such as London or Sydney.

“As a result, the Western Cape continues to attract significant interest from returning South Africans seeking a combination of lifestyle and investment value,” Smee shares.

Education remains a powerful drawcard

For families, education is emerging as one of the strongest influences on expat purchasing decisions.

South Africa continues to offer access to highly regarded public and private schools at a fraction of the cost of equivalent international education abroad – a major drawcard for families returning from countries where schooling and childcare costs have become prohibitively expensive.

“Many returning families are evaluating far more than property prices,” adds Smee. “They’re looking at the overall cost of raising a family and the quality of life available to their children.”

Beyond affordability, many parents are attracted by the opportunity to raise children in environments that prioritise outdoor living, sport, recreation and access to extended family support networks.

This has contributed to sustained demand in established family-oriented suburbs such as Cape Town’s Southern Suburbs, as well as Johannesburg nodes including Bryanston and Houghton, where buyers can access strong schools, established infrastructure and proximity to major business centres.

Security and convenience remain non-negotiable

Security continues to be a key consideration for many returning expats. Years spent living abroad often heighten awareness of safety concerns, leading many buyers to prioritise properties that offer enhanced security measures and lower management requirements.

This has fuelled demand for security estates and sectional title developments that provide controlled access, monitored security and dedicated patrol services.

“In addition to the peace of mind offered by enhanced security measures, these kinds of properties offer a lock-up-and-go convenience that freehold homes may struggle to match, particularly for buyers who split their time between countries or travel frequently,” Smee explains.

This trend is especially evident along KwaZulu-Natal’s North Coast, where areas such as Umhlanga, Ballito and Zimbali Estate continue attracting strong interest from returning South Africans seeking a coastal lifestyle without compromising on security.

What expats are really buying

The growing interest from returning expats reflects a broader evolution in how property value is being assessed.

“The reality is that South Africa still offers something many global cities increasingly struggle to provide: a high quality of life at a relatively accessible price point, particularly for those earning foreign currency or returning with offshore capital,” says Smee.

“For these buyers, reinvesting in the local property market is no longer simply about ‘coming home.’ It’s about finding the right balance between lifestyle, security, convenience and long-term value.”

Importantly, these priorities are not unique to returning expats. They increasingly mirror the considerations influencing the broader South African property market, offering valuable insight into where future demand is likely to be concentrated