Is foreign investment into the South African property market a good bet?
Foreigners can purchase property in South Africa, with some limits, and with the strength of the Rand still waning against many global currencies, buyers from abroad will certainly be making a good investment.
In terms of property costs, it's a no-brainer for somebody from abroad to enter the Cape Town market, both in terms of overall costs, but also for what they are getting comparatively in other markets.
Cape Town boasts incredible lifestyle options and is one of the most globally connected cities in the world, both in terms of communications and people, and in comparison to cities like New York, Paris, Monaco and London, you will be getting a lot more for your money.
Latest reports on the luxury residential market back this up further, with Cape Town ranking favourably against other luxury residential markets around the globe. Looking at the number of square metres of prime property $1 million (around R16.2 million) can buy you around the globe, the report reveals that while in some cities, it wouldn't so much as buy you a box room, in Cape Town it would allow you to live a life of luxury.
In the city comparison, CPT offers buyers fantastic value for money, with $1 million getting you a 202 square-metre property (on average), compared to the likes of New York (34), London (31), Paris (42) or Monaco (15). Add the lifestyle elements of Cape Town and it's a no-brainer as to why investment in local property is a good idea.
With remote work the model of the future, why work from home, when you could work from Cape Town... in a spacious, luxury home?
Best to all,
Margie, Clare, Fiona, Arlene, Terry, Alison & Jane