RE: South Africa No Longer A Retirement Destination For Foreigners
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They think that these pensioners do not have the means to move?! One of the only groups of people who HAVE money to move... this means that the Southern Suburbs of Cape Town is going to be emptying out. Without control of who buys... this will cause a further replacement and chain reaction... not good...
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The problem is most may have not the means to move now as they will not find the same lifestyle for the same price anywhere else. Selling a high end property in the Southern Suburbs will most likely get you a decent flat in Europe and not anything close. They will move as they have no choice.
Or they will end up moving into cheaper places further away from the City hub... again depriving it of commerce.
Yes they will become a destination shop. The problem with SA is we have too many shopping centers and it dilutes the retailers profitability. I expect many will close or be demolished because that route is unsustainable and expect many more strip type malls to be built.
Less malls and less of the population can be employed in the retail sector... presumably?