The South African market is much more stable than it once was and is now proving to be a great option for investors wishing to buy properties abroad, for many of these investors, this will be a second or third property to add to the portfolio they currently own. The warm climate, excellent views and low cost of living are all reasons people are attracted to South Africa.
House prices within South Africa have increased greatly over the past few years yet the average house prices remain some of the lowest round the world. There is also no time difference between the UK and South Africa making it easy to do business with one country whilst remaining in another – it also means there’s no jet lag to worry about when travelling between the two.
You can find property in South Africa along the coast, deep in the countryside or in one of the lively cities and here are three reasons you should chose to invest in the South African market.
Great long term investment
Due to the turbulent political history, the area has been left with a shortage of quality housing options and this is a high priority for the government. This means there is a long term view on the property market and the government are offering more advice and support to people looking to buy than ever before. It also means as the areas continue to improve, buying a property at the current rates will mean you should see your properties value increasing in future years.
Excellent for buy to rent properties
Increased interest and inflation rates have meant more and more people are choosing to rent property rather than buying. If you can afford to buy within the South African market, there is a high demand for properties available for rent. This is a great option for people not looking to move to South Africa straight away but want to benefit for the current low prices.
Huge savings opportunities
Property developers looking to invest in this area are encouraged by the high savings they can make. A part of this savings is due to generous tax breaks and extra savings are available for renovation projects. This has led to the commercial property market being the first choice for investment over many western countries.
When considering buying a property in South Africa or any other location abroad, this is a decision that should not be taken lightly. South Africa may not be the choice for everyone but with its wonderful scenery and international links, you’ll find it tough to find a market that is growing at a similar rate, especially one with so much support from the government.
This guest post was provided by the online business site Smarta.com who offers advice for people looking to start a business at home and abroad.