Sep 13 2012
The Foreign Effect
Posted in International Property
For the time being, foreign buyers remain a relatively small group of buyers of South African residential property. However, there are signs that their contribution to overall buying has been stronger in the 1st half of 2012 than in 2011, with the effects of the recession of a few years ago gradually passing on.
A weak Developed World economy keeps emigration selling low, and Africa’s improving economic situation may have begun to increase the significance of African-driven foreign buying in SA.
But more noticeable is a significant increase in the African continent’s contribution to foreign buying, according to the agents’ perceptions, and one could expect this group’s contribution to increase significantly in the coming years with Africa’s economic fortunes expected to improve.
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Southern Suburbs, Cape Town