Property Strategist John Loos Explains Why Entrepreneurs Prefer Opening Their Start-Ups In Cape Town Over Johannesburg
Property Strategist John Loos Explains Why Entrepreneurs Prefer Opening Their Start-Ups In Cape Town Over Johannesburg. There are some places that are conducive for opening up a business as they have the right conditions for the business to thrive. In an interview with eNCA, property strategist John Loos explained why entrepreneurs prefer opening their startups in Cape Town over Johannesburg.
He said, “It’s actually property survey and property broker survey, and what we have been seeing through last year in these surveys is brokers perceiving after the lockdown, the free coastal metros to be outperforming the Gauteng ones but more specifically the most noticeable perceived, the one improving or strengthening the free commercial markets of industrial retail or office space is faster in Cape Town and I think part of that has to do with the generally good sentiment towards Cape Town…”
Loos continued to say, “… we have seen other people talk about a strong semi-gration trend that bring the individuals to Cape Town and probably some businesses too. I think a lot of it has to do with not only the more longer term perceived lifestyle choice people make to live there but a superior economic performance because of the semi-gration trend, the skills and affluence it has brought to the region.” Loos also added that this is also due to the unrest that took place last year as more people are choosing to relocate from Johannesburg to Cape Town. The uncertainty has made it difficult for businesses to open up as they do not trust that the region will be safe for their startups.
Loos indicated that Cape Town is performing better economically than Johannesburg, therefore more entrepreneurs are inclined to build their startups in Cape Town as this provides a better chance for their business to thrive. The development of Cape Town has allowed startups to succeed as its economic ecosystem is booming with a lot of investment.
