Property for sale in Secunda may not be at the top of your priority list right now, considering the current financial situation and other concerns in South Africa at present.
However, summer time is around the corner and tourists from abroad are preparing for their journey to the country, where some will love the experience so much that they source a second home.
Locals are exposed to a variety of things on a daily basis, from crime statistics to talks of the recession, and even political issues such as the land reform discussions. This all plays into their approach to the property market, but experts say that foreign interest is not being affect, in fact, interest is increasing.
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.”
These are not just assumptions though, it is backed up by Lightstone, who offers comprehensive data in the property and automotive market in South Africa. In January this year, they reported that foreign ownership of property in SA was up by 42% when looking at the same time from 2017.
And according to Kotze, recent investments in the country that were secured by the president and his economic convoy should go a long way in attracting even more interest from foreign companies and entrepreneurs – meaning that the trend is likely to continue.
When assessing which provinces were attracting the most interest, Gauteng came out on top with 47% of transactions having taken place there. The Western Cape wasn’t too far behind either, accounting for 36% of the transactions.
