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Invest in South African property

Friday, 3 June 2005 12:00 AM

People looking to invest overseas have been advised to buy-up property in South Africa.

The republic has seen house price rises far in excess of traditional European favourites like France and Spain, while house prices have are still lower than in many European countries, experts have said.

Chris Wilson, of South African property firm John McDonald Properties, commented: "The property market in South Africa is currently experiencing rapid growth.

"What's more, the demand for housing far outstrips supply. For these reasons the value of properties is expected to increase significantly and, for early investors, growth in the region of 30 per cent can be expected in the first year."

And aside from rapidly rising property values, South Africa has a number of other advantages for UK investors.

Being in the southern hemisphere the country has its summer when Europe is in winter, and close links with the UK mean the majority of the population speak English.

Nick Clark, managing director of Homebuyer Events, explained: "South Africa currently offers fantastic opportunities for investors with a long term perspective.

"What's more, the time difference is only one hour so you can spend a long weekend away without suffering from jet lag."

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