SA property still attracting foreign interest
For some locals, the decision to buy property for sale in Moot could seem very complicated at present. However, foreigners continue to show interest in owning second homes in South Africa, and experts have explained why this is the case.
You may have found yourself sitting on the fence regarding property for sale in Moot, however, South African property still remains attractive to buyers abroad.
Spring brings about warmer weather and an influx of tourists who come to enjoy everything South Africa has to offer. Locals may not be feeling that fresh at the moment though, with difficult challenges on the cards due to economic pressures.
The concept of South Africa still being such an attractive option for property investment may baffle some at present, but to give a clearer understanding, Gerhard Kotze, who is the MD of RealNet, said,“This migration may be difficult for us to understand, given our local considerations about the economy, corruption and crime, but one just needs to consider the property value for money that is available in SA to appreciate the international interest in owning a second home here.”
His statements are fully backed up by data from Lightstone, a reputable data management company, which showcased that foreign ownership of property in the country was up by a significant 42% in January when looking year-on-year.
Gauteng was also a big winner in this regard, accounting for just under half of the transactions, while the Western Cape also attracted 36% of that interest.
Kotze also believes that this a trend that is set to continue, saying that the investments recently secured by government are likely to attract even more foreign businesses and entrepreneurs.
The most popular price brackets at which foreign buyers are involved in range between R3m and R4m in Gauteng, while in the Western Cape they are mostly spending R4m or more. However, there is also a lot of interest for homes ranging between R2m and R3m across the board.
