PROPERTY NEWS - Tyson Properties Atlantic Seaboard branch manager Nick Pearson says the agency has experienced a significant upturn in the number of international holiday-makers viewing the weaker rand as an opportunity to purchase their dream house.
“These buyers, traditionally from the UK and Germany and now increasingly from the Scandinavian countries, the Middle East and across Africa, are driven by the amazing lifestyle South Africa has to offer and value-for-money,” he says.
The European investors typically acquired holiday homes, while those from the Middle East and Africa wanted secure African property investments.
The European investors typically acquired holiday homes, while those from the Middle East and Africa wanted secure African property investments.
The most popular suburbs include Tamboerskloof in the City Bowl and Camps Bay, Clifton, Llandudno and Bantry Bay on the Atlantic Seaboard.
Array of purchasing reasons
“People are buying in South Africa for an array of different reasons – from holiday homes to second homes, properties in which to retire full-time and ones where they can spend the northern hemisphere winters in the sun. However, international buyers are also acquiring large properties and entire apartment blocks for redevelopment and resale,” Pearson says.
Array of purchasing reasons
“People are buying in South Africa for an array of different reasons – from holiday homes to second homes, properties in which to retire full-time and ones where they can spend the northern hemisphere winters in the sun. However, international buyers are also acquiring large properties and entire apartment blocks for redevelopment and resale,” Pearson says.
