South Africans living abroad are showing increasing interest in investing in residential property back home, reports Pam Golding Properties.
Dr Andrew Golding, chief executive of the PGP group, said: "Increasingly, South African expatriates living in countries such as the UK, the Netherlands and Germany are investing their hard-earned foreign currency in properties back home, mainly in the price range up to R2 million."
At just one recent immigration show held just outside Utrecht in the Netherlands which targeted expats from all countries who are currently living in Holland, PGP - which was the only South African company present - received enquiries from 36 buyers, of whom 26 have set a date to visit South Africa to view properties.
The bulk of SA expatriates who attended this event were looking for properties under R1 million, although their price range in some instances extended up to R3 million and even beyond.
From mid-September through till the end of October, PGP takes its team of property specialists and portfolio of sole mandate South African properties to a number of leading international exhibitions. These include the Property Investor Show at Excel, Canary Wharf in London; Homes Overseas exhibition held at Earl's Court in London and in Dublin, Ireland; Söd-Afrika Tage 2004 exhibitions held in Cologne, Hamburg and Munich in Germany; and the Second Homes International exhibition in Utrecht.
Accompanying the PGP team will be legal experts from Buchanan Boyes Smith Tambata, who will ensure interested buyers have all the relevant information regarding purchasing a property in South Africa.
Bev Bloch, a director of Pam Golding Properties' International Division, says overseas perceptions about South Africa remain extremely positive. She expects keen interest in PGP's range of properties at the international property expos, and based on current feedback from the marketplace, expects the number of visitors to triple in Holland, Germany and the UK.
"Buy-to-let homes - particularly those in secure, lifestyle estates or gated complexes are top of their list of priorities as well as property investment opportunities in the city with rental potential. Others are looking to own a 'pad' in the city, and redevelopment projects where former office buildings are being converted to residential accommodation, are in high demand," she says.
• This article was originally published on page 5 of The Cape Argus on September 04, 2004
Published on the web by Business Report on September 6, 2004 |
