Foreign Home Owners

On May 17, 2009, in International Property, by Colin Gorvett

In 2004, only 2189 residential properties were owned privately by foreign individuals; a number that has by this year risen to 30661 – which represents about 0,56% of all residential properties (or 35,000 foreign owners who own 30,661 properties in South Africa) – under half of which are inland freehold properties.

These figures show that not only is the percentage of properties owned by foreigners is considerably smaller than expected; but that also (in contrast to popular perception) nearly 50% raised mortgage bonds to finance their purchases.

The Western Cape remains the most popular area of choice, with a climate more suited to the needs and preference of the Europeans.

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1 Response » to “Foreign Home Owners”

  1. [...] the foreign owned South African properties, the Western Cape with Cape Town and the wineland areas having the biggest percentage of foreign [...]

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