International Buyers Eye SA Property Market

January 22 - According to international publications, the South African property market remains a good investment option.

As such, good prospects await international buyers.

The Independent, a newspaper in the United Kingdom, recently published a report that a number of factors were contributing to South Africa's appeal to the foreign investor by offering "good hope".

These included a resurgence of the housing market and a rise in local house prices, as well as the upcoming World Cup which is expected to attract thousands of visitors the country.

Interviewed for the report, Jacques Ellis, the Manager of Cluttons Estate Agents said that things were starting to pick up in the property market once more.

"In the past few months, we have seen life return," said Ellis. "Sales and enquiries are up and we expect, with the global focus on South Africa in 2010, that this will continue with international buyers returning in force."

Other local players are also optimistic that the World Cup, combined with looser home loan criteria, will breath life back into the property market.

As the recession ends and the effects of lower interest rates begin to filter through, the market will definitely pick up.

"The World Cup will certainly open up the country to potential investors and buyers who cannot help but recognize that there is significant value in the cosmopolitan lifestyle we offer," wrote Samuel Seef of Seef Associates on his blog.

1/22/2010 9:15:55 AM