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South African property will soar
South Africa could be the next property hotspot for UK buyers looking for a home in the sun, according to property developers.
As well as attracting impressive tourism figures - 7.39 million visitors to a country of only 47 million people - the South African economy is showing steady improvement, with a five per cent growth last year.
Speaking to the Telegraph, Frank Gormley of developers Eurocape, said that efforts to improve the safety and attractiveness of Cape Town - especially in its central business district (CBD) - could result in great returns for savvy investors.
"Property prices in the CBD are about to rise stratospherically. This city is in the infancy of its renaissance," he said.
"By the time of the 2010 football World Cup, there will be no stopping it."
Prices for residential land grew by 14.4 per cent in 2006 and with a superb climate, constantly improving socioeconomic conditions and scores of bargain properties available, this could be the perfect moment to snap up South African housing.
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