South African Property Market

The South African property market is one of the fastest growing markets in the world, remaining a popular investment option for locals, international property moguls and holiday house buyers. Prices of real estate in South Africa in general are predicted to continue steadily rising, despite recent whisperings of it becoming unaffordable. Prices in certain regions may have to plateau for a while for corrections sake however.

This is the sixth year in a row that South Africa has been ranked as one of the world's top 20 destinations, being voted the world’s most popular destination for scenery and 5^th best tourist destination by Condé Nast magazine in 2006.

Well known for its spectacular beauty, diverse landscape, kind climate and cosmopolitan people, South Africa has steadily and consistently attracted greater interest in both the tourist and property market since its post-apartheid mass exodus in 1994. Despite price spikes, the country’s natural beauty and the quality of its new developments keeps South Africa ahead of Europe and North America in terms of value for money.

South Africa’s infrastructure is continually improving and expanding to accommodate the growing influx of tourists, immigrants and property investors to its borders. Many in government view the real estate market as a major contributor to South Africa’s ongoing development and stability and strongly encourage local and foreign investment. Also, as the world’s sixth largest coal producer and leading mineral exporter, South Africa is by no means on its way out as an economically viable country.

The Western Cape is by far the most popular area in terms of property investments because of its scenic beauty, quality of life and enviable beachfront holiday homes, meaning that its prices are a lot steeper than those of the Eastern Cape.

Garden Route property is also highly sought after, especially in coastal areas such as Knysna and Plettenberg Bay, while Durban property is a popular holiday investment because of KwaZulu Natal’s year-round summer climate and warm ocean waters. For aspiring businessmen or those who prefer the appeal of vibrant city life, Gauteng property would definitely be the most attractive option.

Making an educated decision when purchasing property necessitates an understanding of all the contributing factors, such as the economy, the housing market and buying conditions, the standard and cost of living, and the job market, among others. Contact one of our knowledgeable real estate agents for further insight into the South African property market and to discuss the best opportunities for your future, budget and personal requirements.