South Africa – A world in one country
“A world in one country” – an expression very aptly associated withSouth Africa and its diverse natural beauty. It enjoys one of the highest ratesof sunshine per day in the world, thereby offering enviable, outdoor lifestyleadventure activities which are rare to many other countries and continents.South Africa is one of the most beautiful, hottest tourist destinations in theworld. When you see its exquisite beaches, magnificent countryside and ruggedmountain backdrop, you can understand why.
South Africa is renowned for its excellent medical facilities andwell-trained medical specialists. There are many great public schools whichhave maintained particularly high education standards, with a host of topprivate schools in every city and town.
Rainbow Nation is the frequent term used to describe cultural diversity,with 11 official languages, although English remains the business language inthis multi-lingual 'Rainbow Nation', rich in cultural diversity and heritage.
South Africans are known for being amongst the most upbeat, welcomingand humorous folk you can hope to encounter, with a past that tells the storyof separation and struggle, South Arica is now filled with unity andpossibility growing towards a great future. South Africans are extremely proudof their beautiful country, offering tourists from around the world greatholiday experiences and world-class hospitality.
South Africa scores top marks for her diverse offering of beautifulbeaches, dramatic mountains and cliff-faces, lush forest belts, intriguingsemi-deserts, and unforgettable sunsets over the African veld. She boastshighlights such as the famed Table Mountain with its cloudy tablecloth, and theluscious Garden Route stretching from the Eastern to Western Cape, anytraveller to her shores will soon discover that a postcard scene awaits them atevery turn. Just like the diverse cultural experience one could expect from thisexceptional country, one would most definitely find it hard to choose fromcountry living in the Free State province to cosmopolitan lifestyle in Gautengand warm bushveld sun in the North West bordering the Kruger National Park.
Overall this country has not only sparked tourism attraction, but itsresident's interest for property investment, extending across shores tointernational elite Real Estate, yachting and aviation company Engel andVölkers established in Germany, this property specialist professional familyhit our shores in 2003 and now have over 40 branches nationally.
The South African property market, particularly the residential marketin Southern Africa, is filled with potential and growth. In the AtlanticSeaboard and City Bowl we have seen property values bolstered by positivemarket growth and contributing market factors. Quality and location are the keydifferentiators.
In 2008, house prices fell by 0.5% and in 2009, house prices rose 0.3%,the roller-coaster continued in 2010, as house prices increased by 2.3%, thiscan be attributed to South Africa hosting the 19th FIFA World Cup. In 2011,house prices rose by just 1%, due to lower economic growth, rising inflation,but that was short lived as in 2012, the housing market bounced back withhouse prices rising by 9%. In 2013, house prices rose by 3.9% (-1.3% in realterms).In November 2014: the average price of small homes (80-140m2) was R 852000, the average price of medium-sized homes (141-220m2) was R 1,191 millionthe average price of large homes (221-400 m2) was R 1,814 million.
“In view of the house price growth in the first eleven months of thisyear, we may well see a growth of around 9% forecast for the full year'' sharedCraig Hutchison CEO of Engel & Völkers Southern Africa.
South Africa is viewed as a safe investment platform for expansion intothe rest of Africa. It was ranked first for auditing and reporting standards,and is ranked number one as the country with regulation of securitiesexchanges, second for soundness of banks and second for availability offinancial services (safe country to invest in, positive attributes of adeveloping services) by the World Economic Forum's Global CompetitivenessIndex, South Africa also ranks as the top 15% in terms of property rights inthe world (World Economic Forum's global competitiveness index), Over the last10-15 years, the South African listed property sector has been the bestperforming asset class compared to cash, bonds and equities, Kearney's GlobalCities Index ranked the southern African city of Cape Town as one of the top 20emerging global cities. “I would say that the world praise and the country'snatural beauty are strong motivating contributors for investment in SouthAfrica's property” stated Craig.
South Africa and Expats
Traditionally expats return to South Africa to exceptional positions dueto their exposure and experience in the international business world. Thisallows them to afford homes in any of the areas where they choose to live.Depending on the business skills honed during their time overseas, they mayreturn to their hometown or to the cities where attractive salaries arepaid. There also appears to be a demand among wealthy expat buyers forlifestyle properties in what they perceive to be luxury locations.
As the “City of Gold”, Johannesburg attracts new arrivals to itsnorthern suburbs, the business and night-life hub of South Africa. Theadvantage is the new Gautrain transport system which alleviates much of thetravelling hassles.
Cape Town is a sought-after cosmopolitan area and desired by many. The quality of life in the 'Mother City' is incomparable due to its amazingscenery, activities and a permanent holiday atmosphere.
Also popular due to its unsurpassed weather and warm Indian Ocean, isthe KZN North Coast, namely Ballito and Umhlanga. With the new ShakaInternational Airport based between Ballito and Umhlanga, this part of thecoast is now a lively area with a burgeoning property market.