Oct 07 2009
Value in South African Property
Posted in Property Matters
Rich and famous, local and international, celebrities and personalities are finding exceptional value in South African property.
Caprice, Richard Branson, Susie Orman, Britney Spears, Angelina Jolie, Catherine Zeta Jones, all own property in South Africa. Investors Dolf de Roos and Robert Kiyosaki too have spent time in South Africa.
Besides the developments, either endorsed by or of South African personalities – Sol Kerzner, Gary Player, Ernie Els – a recent article in South African Real Estate Investor featured journalist and TV presenter Derek Watts, international football goal keeper Gary Bailey, Springbok rugby captain John Smith, and best selling female musician Patricia Lewis; all of whom invest in South African property.
Of the foreign owned South African properties, the Western Cape with Cape Town and the wineland areas having the biggest percentage of foreign owners, Gauteng follows closely, then KwaZulu-Natal where major infrastructure developments are underway and the Eastern Cape where the timeless favourites of Knysna and Plettenberg Bay attract local and international investors.
Interest from investors and returning expatriates bodes well for the property market in South Africa, and for those who can raise the finance are finding bargains as property becomes more affordable. Interest is expected to increase following the 2010 FIFA World Cup soccer tournament.