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May 17 2009

Foreign Home Owners

Posted in International Property

1 Comment

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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