A growing list of service delivery issues – including countless potholes, water and electricity issues – has contributed to an exodus of middle-class South Africans from Johannesburg to the Western Cape and overseas.
Cy Jacobs, chief executive of asset manager 36One said that the phenomenon has grown rapidly since before the start of the Covid-19 pandemic, with some homeowners effectively abandoning their homes in Gauteng, to move.
“Services are almost non-existent and there (are) potholes the size of small suburban dams across many Sandton roads. It is very difficult to have a constant supply of electricity, which is obviously a national problem, and there have been ongoing water issues which have hit areas for days at a time,” he told radio station CapeTalk.
This has led to a direct drop in property values in some areas, and a loss of value of as much as 25% in some Sandton
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