Real Estate Market of South Africa

The Economist magazine recently named South Africa as a long-term with the real estate market in the world better. The magazine has a global index of home prices, shows a cumulative increase of 418% of real commodity prices in South Africa in the past 12 years (2007-2009). The magazine 20 tracks real estate markets in other, and no one has shown that the level of performance. Australia, Britain and Spain were the placings at 181%, 175% and 167% respectively. Overall, it would be difficult, the areas that have not participated in real estate and financial problems of the past three years to identify. But apparently, according to the journal of the property market in South Africa is one of the few who managed to rise near the top of the house prices in 2008. While seven of the twenty surveillance zones have begun to see price increases, not to return to the 2008 level. A good way of comparison, the United States Case-Shiller index shows an increase in 2009, but nationally the prices are still about 30%, or from the 2006 peak. In fact, recent data show that property prices in South Africa, on average, about 1.2% more than in 2008 a record year. Prices rose by 9.7% in the second quarter of 2009, when things seem to have to be taken all over Africa for the property market in the south. The new South Africa seems to be ruled by a few spokesmen of the real estate industry, though. While the budget was R6.5 billion in government said tax relief gift for home buyers, real estate, that it is not enough. Barry Everitt of Chas Everitt International Property Group, said: “The budget does not contain many direct benefits for the property, despite a very positive outcome could have a spin-off for the real estate market. “Gerhard Kotz ERA Property Group SA, said the Minister had failed to stimulate the housing market. He said:” Home affordability is the key and the United Kingdom, for example, various incentives means more income means that people are able to accomplish to buy their first home … “This is a dramatic proposal has Tjaart van der Walt, Chief Financial Officer of a real estate agency Realnet in this quote:” To accelerate the provision of housing, the government should be big parts of the state space available developers so free. ” So even if the body store in South Africa is doing better than almost anywhere else in the world are those who want more experience. Tony Osust, Director: Extensive research by our international portfolio of properties for sale and for rent. Holprop. com now shows thousands of homes for rent or for sale, houses, commercial buildings and recreational facilities such as hotels, bars, restaurants, construction of new developments and off plan sales worldwide.

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