The Cost of Living in South Africa

Every year we see an internal migration of individuals and families between the major cities of South Africa – mostly for work reasons. These decisions are sometimes thrust upon us due to simple economics, but other times we are able to explore the opportunities and the pros-and-cons of living in a new city.

But how exactly can you make informed decisions without relying mostly on hearsay or the perceptions of friends and colleagues.

Which cities are on the higher scales of cost of living (relative to income) and which are lower down?

It may be safe to speculate that many people would rate Cape Town or Johannesburg as the most expensive place to live in South Africa, and they wouldn’t be far wrong – but according to the latest surveys by Expatistan.com, Benoni has the highest cost of living, with Cape Town ranking 4th!

Check this link out for the full details:
https://www.expatistan.com/cost-of-living/country/south-africa

Once you’ve clicked through to the each city, you can view a very comprehensive presentation of living expenses ranging from a lunchtime meal in the business district, through to data costs and the hourly rate for cleaning services. Being able to consider the rental of small housing units, utilities and transportation costs are extremely helpful – even the cost of a TV and microwave are there!

You can also find comparative costings for basic goods like milk, eggs and chicken as well as clothing options and personal care products.

Remember, these expenses need to be weighed against your earning potential whilst living there – so every presentation should be in context of your unique situation. If you need advice or guidance, then send me a text or email and let’s make a plan to go through your options, together!

Posted in Blog, financial planning.