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 THE
economic slowdown in South Africa has seen estate agencies scrambling
into the rest of Africa.
The agencies that have crossed the borders include Chas Everitt International,
Pam Golding Properties, Seeff Properties and Harcourts.
But other large agencies are exploring partnership arrangements with
agents in Botswana, Mozambique, Zambia, Malawi, Namibia and Zimbabwe.
The arrival of skilled South African professionals in many of these countries
has driven up the prices of commercial and residential real estate, according
to Graham Barclay of Ewing & Associates.
Chandalala Kondolo, principal of Chas Everitt International in Lusaka,
Zambia’s capital city, said foreign buyers, including South Africans,
are increasingly investing in the country.
“There are a number of factors, such as the favourable exchange
rate and the fact that the country will soon be home to some very upmarket
mixed-use developments,” he said.
Chas Everitt International’s website shows a 2ha piece of vacant
land in Lusaka on the market for R2.4-million. A five- bedroom smallholding
in Chilanga, south of Lusaka, is being sold for R13.9-million.
A three-bedroom apartment in the Lusaka upmarket suburb of Kabulonga
is up for rent at R22708 a month, while a four-bedroom house is advertised
for R28334. Seeff Properties has offices in Botswana, Mozambique and Zimbabwe.
Yesterday, a four-bedroom home, with a 5.5kV generator and borehole,
in Borrowdale Brooke near President Robert Mugabe’s official residence
in Harare was on the market for 250000 (about R1.9-million). A 5 000m²
vacant stand near the house was for sale at 180000.
South African-based buyers are reportedly spending between R1.2-million
and R5-million for homes and apartments in Zimbabwe.
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Newsletter:
25 May 2012 2012 to 1 June 2012 - Dullstroom, Mpumalanga, South Africa
