Innovative land & property investments
International Property Investment News
South Africa offers investors potential
South Africa may be the next hotspot for property investors, judging by recent gains in its economy.
The country's department of trade and industry reported that between September 1999 and June 2005 there has been an average annual growth rate of 3.5 per cent, according to allAfrica.com.
That shows a substantial improvement on the average annual growth rate of one per cent, during the ten years leading up to 1994.
At the same time the country has been enjoying a booming land and property market that is very favourable to investors: house prices have increased by an average of 20 per cent a year in the last seven years.
Speculation and a thriving tourism industry are thought to be the key factors driving this significant surge.
It is now 12 years since South Africa banished apartheid and became a democracy and ten years since it introduced a national constitution.
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