Edition 32 of 2005, Sunday, 28 August 2005
South Africa is poised to record its strongest annual growth
rate in five years after the release of data this week showing the
economy is firing on all cylinders. "The performance of the
South Africa economy in recent times seems to be more solid and
consistent than before," the central bank says in its annual
economic report, released in Pretoria. The real-estate market
remained strong, but the rate of price increases was tapering off
as the chances of further steep drops in mortgage interest
People that wish to upgrade their lifestyle via their home
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Just two weeks after President Thabo Mbeki criticised exclusive
golf estates as a way of entrenching race and class divisions in
the country it was announced that Soweto is going to get a new exclusive
and upmarket golf estate. An initial 75 stands would be serviced
by the consortium, as part of an agreement, and more houses
would be built in the complex once the golf course is completed.
Let's stay with Soweto - Soweto, Gauteng, South Africa is
a city of contrasts: luxurious mansions across the road from
tin shanties, green fields and streams around the corner from piles
of garbage, the biggest public hospital in the world with the world's
highest HIV infection rate, and a friendliness and cheerfulness
that disguises a high unemployment rate.
takes us on a tour to this Johannesburg suburb.
The most expensive property in the world and South Africa
makes the short list with this wine estate.
Price: $17.9 million
Location: Cape Town, South Africa
Though it's far more than a residence, we couldn't overlook this
wine estate in Stellenbosch, South Africa's version of Napa.
The second-oldest town in the country, Stellenbosch has oak-lined
streets and a mix of restored houses, which lend it a country charm.
This estate totals nearly 500 acres and produces 400,000 bottles
of wine each year. It features a large thatched manor home built
in 1700 and set in extensive gardens. Then there is the game park,
swimming pool, wine cellar and tasting room, and additional buildings
such as offices, guest cottages and staff quarters.
What is a micro chip credit card? ABSA shares a few thoughts with
us in Have Fun.