What you really should know about South Africa housing... Our guide to safe and affordable housing for expatriates is really a must read for everybody thinking of moving to Cape Town or looking to rent or buy property in South Africa.
Expatriates from overseas tend to stay and invest in the more affluent suburbs in South Africa as in general, the disposable income of expats is higher than that of their locally contracted collegues. The housing market in South Africa offers abundant opportunities to invest in the middle and luxury segment of the housing market. Popular areas for investments are especially sought-after in the greater Cape Town area, the Cape Winelands, along the lush Garden Route, in and around Durban and the Kwa-Zulu Natal Midlands or in Gauteng.
There are many safe suburbs in and around the major South African cities where the crime rate is really low, lower than in many western cities in the world and you will be and feel safe, as safe as you would feel in many cities around the globe. And here you will find many up-market gated estates, golf estates and lifestyle estates that are popular with foreign investors and a wide range of housing options are available to the expatriate buyer or tenant. These housing estates offer all the facilities you could wish for, like well maintained leisure areas complete with club houses, gym facilities, swimming pools, athletic tracks, tennis courts, children's play areas and easy access to golf courses and entertainment areas nearby.
House prices still grow in South Africa, with an expected 5-6% growth rate for 2016. The weaker rand rate could benefit the foreign buyers interested in investing in property in South Africa. Around 3% of all properties in South Africa are owned by foreigners, with most of them coming from European and African countries, however, also Chinese investors are more and more following the developments on the South African housing market. Foreigners are allowed to own property in South Africa, however all funds must be documented and declared. Read more here.
You will just have to make the tough decision if you want to live by the mountain or the sea. Or if you prefer living in the city centre or further out in the countryside?
Our new expat guide to South Africa has plenty of information on the Housing market in South Africa. With a dedicated Housing chapter the book will give you answers on all your questions. With in-depth research, lots of practical South Africa housing tips, helpful contacts and recommended resources, this is a must read for anybody relocating to South Africa. You can buy our unique 'Living in South Africa' guide book either online from us or get it at local bookstores. NOW ALSO AVAILABLE AS E-BOOK!