Expat market growing
|Pam Golding Properties' London office reports that a quarter of all
enquiries for homes in South Africa are from expatriates looking to invest
in property back home. And with the British press providing considerable
positive exposure to South Africa, with extensive coverage on the property
market, this has added further impetus to the increasing demand for homes
from SA expats in the UK.
Dr Andrew Golding, CE of the Pam Golding Property group, says 50 percent of the company's expat buyers are returning to SA during the course of 2005, while the other half are looking to enter the market in order to acquire a property as an investment for when they return in the future.
"We identified this trend among expats purchasing property back home a few years ago, when we ran a highly successful ad campaign specifically targeting this growing sector of the market, and this demand has increased exponentially ever since. The bulk of expats currently contacting our London office in regard to South African properties are young in their 20s and 30s, having achieved success in their various fields.
Positive reports in UK press
"Exhibition organisers say that when they have carried out their surveys prior to and during exhibitions, most people have responded that they would like more information on South Africa.
'A Place in the Sun', the ITV Channel 4 programme, which has filmed footage in South Africa, carried a 12 page editorial in their January magazine on buying property in South Africa, and both editions since then have carried editorials on the SA property market, and current trends," says Dr Golding.
Lyall Scorovich, who heads up the Pam Golding London office's sales
of South African properties comments: "SA expats are generally
interested in properties priced between R1- and R2 million, with those
seeking an investment for the future generally looking at homes in the
Cape Town area. Those expats returning to SA in the immediate or near
future are currently enquiring mostly in regard to Gauteng and KwaZulu-Natal,
and ask for specific areas," says Scorovich.
Article from : http://iafrica.com/property/