Property Investor information: South Africa
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Property Investor information for: South Africa
The South African property market has regularly been in the headlines over recent years. The spectacular prices caused by the recovery of the rand have seen investors and second home owners profit very well from their investments. This level of inflation (which in most cases has not actually been large in Rand terms) has begun to put some investors off as there is a feeling that most of the profits have already been had.
However, there is more behind the South African property market than currency speculation. Not many countries in the world offer such great value along side the natural wonders of the Western Cape, the Kruger National Park and the wine country of the Garden Route. These natural draws along with the vibe of Cape Town, the perfectly opposite seasons (of course South Africa enjoys its summer while those of us in the Northern Hemisphere shiver our way from our own winters) and the minimal time difference make South Africa a popular tourist, second home and retirement destination.
Cape Town has long been popular with foreign visitors and prices for property close to its upmarket beaches already reflect this popularity. The 2000 mile coastline is picturesque, and largely turned into golf courses. These coastal areas are the most popular with many purpose built developments already in place or in the pipe-line. The Western Cape is the most popular area due to the scenery, but prices here are much higher than on the Eastern Cape.
The political situation remains stable and indications suggest that this should continue. The real estate market is also seen by many in government as being at the core of the country's ongoing development and foreign investment should continue to be encouraged.Despite recent price rises, the fundamentals still look good for the South African market. The nation's natural beauty and the quality of new developments mean that property remains excellent value compared to much of Europe and North America. Some concerns remain over the political situation in neighbouring Zimbabwe, but on the whole South Africa remains well worth considering as an investment opportunity.
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