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.
Tags: Cape, Europeans, foreign, home, owner, residentail, western
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Filled Under: International Property
October 7th, 2009 at 1:36 pm
[...] the foreign owned South African properties, the Western Cape with Cape Town and the wineland areas having the biggest percentage of foreign [...]