Rising global interest in SA real estate
Category From Our CEO
Hello Everyone
Having just returned from the Leading Real Estate Companies of the World® (LeadingRE) Global Summit that was held in Cascais, Portugal this year, I'm delighted to say that South Africa, which was not well known among international real estate companies and property investors a few years ago, is now definitely and firmly on their radar.
The summit attracted the owners of top property brokerages from more than 30 countries, and I heard from most of them that they have many clients interested in moving to SA or buying property here as an investment.
There are several reasons for this, the first being that SA is increasingly seen as a "safe haven" away from the current political and economic turmoil in the EU and the UK - but one that is just an overnight flight away from offices and businesses in financial centres like Berlin, Amsterdam, Paris, Milan and London.
It is also familiar to many in Germany, the Netherlands and the UK who have visited as tourists, know the weather and the lifestyle on offer and understand that it would be very easy for them to work remotely in SA, especially since there is little or no time difference.
According to my LeadingRE colleagues, there is also increased interest among investors in the Middle East and Far East regions, who are not yet as familiar with SA's property market but want to be here to participate in the great business opportunities they see as SA rebuilds its own tourism sector and industries post-pandemic, and plays a leading role in African development projects.
And thirdly, we are even starting to see enquiries come in now from prospective buyers in the US, Australia and New Zealand, some of whom are expats planning to return to SA or wanting to buy investment properties here as a retirement option.
The current rand/ dollar exchange rate is also working in favour of international buyers, who are able to use their dollars, euros and pounds to buy upmarket properties in SA at a fraction of what they would cost in their home countries.
All of this is positive and encouraging news for SA property sellers - but only really useful if they are able to ensure that their specific properties will be showcased to an international audience of potential buyers and investors.
Which is where we come in. As the SA affiliate of LeadingRE, we are connected to a global network of top estate agencies and sales associates that spans 70 countries, and we are able to market our clients' individual properties directly to that network. We are of course also able to receive international buyer enquiries through the network and match them to properties we already have listed.
And that, of course, is how a real international referral network should work...
Warm property regards
Author: Chas Everitt