Johannesburg ranks as most affordable city to buy homes

The Citizen

4 days ago

Joburg's affordability, rebates, and low municipal costs make it a top choice for career seekers and property buyers worldwide.
Johannesburg may be a little rough around the edges, but it sure stands tall among its global peers as one of the most affordable cities in the global rankings.
The secret is out: for years, Johannesburg has quietly become a competitively affordable city. Whether it is buying or renting property, paying for municipal services like water, electricity, sewage and property rates, or just day-to-day living, Joburg offers real value for money.
Critics had sought to drive a false narrative which paints the city as an expensive place, with property prices and municipal charges seen as exorbitant. On the surface, this might be tempting to believe, but it is false.
Real estate experts and migration trends, year after year, consistently highlight Johannesburg as being attractive to those seeking career opportunities and affordability.
The 2025 South African Migration Report, which was compiled by Wise Move, tacitly implies that there is a wave of people moving and returning to Gauteng, particularly Johannesburg, in search for better job opportunities and low cost of living.
'Migration trends considering inter-provincial movement, all roads seem to lead to Gauteng – or do they? As South Africa's economic powerhouse, Gauteng naturally attracts young professionals starting their careers,' says the report.
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According to the report, many South Africans still come to Joburg to launch their careers.
The migration trends report about Joburg did not come as a surprise, though. This is, as again in 2023, Joburg was ranked first in a study of world cities, where buying property has become more affordable in recent years.
The UK-based Online Mortgage Advisor carried out a study where buying and renting property has become more affordable for the average worker globally over the past few years, by comparing fluctuating house prices and average salaries.
'Johannesburg ranked first and was crowned the global city where buying property became more affordable at the fastest rate for local residents worldwide since 2018,' the report by Online Mortgage Advisor said.
The publication said Joburg is considered to be the most affordable city in the world in which to buy bigger homes, again based on the average salary of local employees versus average house prices from 2018 to 2022.
Cape Town was also found to have become more affordable to buy a home based on average salaries over the five-year period, but the size of home one can afford has not really grown by much.
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At the municipal level, the City of Joburg has also done its part to keep its costs down.
For the 2025-2026 financial year, the city implemented a modest property rates increase of just 4.6%, which remains one of the lowest among metros in the country.
Moreover, Joburg residential property owners continue to benefit from millions of rands in rebates. For instance, all residential properties are exempt from paying property rates on the first R300 000 of their property's value.
Some qualifying pensioners are either exempted from paying 100% or 50% of property rates. This is the policy that puts real money back into residents' pockets ensuring city's services are affordable.
Also, according to a recent survey by MyBroadband, Joburg electricity prices are lower than they are in Cape Town, Tshwane and Durban.
With rising costs across the globe because of external pressures, Johannesburg still provides value for money with its affordability appeal.
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