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South Africa 'set for major investment'

South Africa is set for major infrastructure investment from its government, it has been reported.

The Daily Telegraph noted that a USD90 billion (GBP55 million) state programme will include investment in areas such as power, health and homes, with British firms likely to be heavily involved in the sustainable housing and renewable energy sectors.

Such a development may also help those looking to buy property in South Africa, as a boost to the economy resulting from such work may feed into the real estate sector.

Like most countries, South Africa has seen its property prices drop during the world economic downturn, but in an article written for South African property site Real Estate Web, chief executive of Durr Estates Julian Reynolds said this will soon change.

Mr Reynolds tipped Cape Town to see the largest price rises in the near future as a "rebound" from seeing the greatest falls in value of any metropolitan area in the country.