International Property Investment News

"Steep growth" expected for South Africa

A strong pound and the 2010 World Cup will continue to stimulate the burgeoning South African property market, according to industry experts. UK buyers looking to pick up stunning overseas property at great value would be well advised to consider South Africa, with the market likely to remain strong for years and housing available at around half the price of western Europe. According to Heath Adamson, sales and marketing director of International Property Solutions, the excellent climate, friendly people and stunning scenery meant that "South Africa really does sell itself" and would continue to flourish. "Growth-wise, South Africa's growing a lot quicker than the UK at the minute. Last year we saw very, very steep growth figures. It has slowed slightly this year, but we're still looking between about 15 to 18 per cent, I'd say, in certain regions in Cape Town." He continued: "We generally find visitors after one trip to South Africa come to us looking for a property - a holiday home or an investment. With the run-up to 2010 I don't think we're going to see any slow down up to and probably for a couple of years after that." The comments followed the recent confirmation that the South African listed property sector had hit the 100 billion rand mark in total market capitalisation.<img src="http://feeds.directnews.co.uk/feedtrack/adferocopyright.gif?feedid=998&itemid=18150963" alt="ADNFCR-998-ID-18150963-ADNFCR" />