South Africa Hoping for International Money Transfers into Property Market

South Africa is hoping to see an increase in the number of international transfers to the country as overseas buyers look to purchase property, following their success at hosting the 2010 World Cup.

In the lead up to the World Cup event, critics expressed concern over whether South Africa would be able to do the job of hosting such a major international event.

They cited inadequacies in the infrastructure of the country as one of the major obstacles for South Africa to be successful as a host to so many people.

South Africa's success speaks of itself for the number of fans that came from all over the world to watch the event.

More than three millions fans were attracted to the event, making it the third best-attended World Cup in history.

Jacob Zuma, President of South Africa was undeniably proud of his country. He was reported by the Cape Times to have told delegates at the 1Goal education summit in Pretoria that South Africa has 'proven to those who felt Africa could not do it."

Sepp Blatter, FIFA President, has gone so far as to voice his support for South Africa to host the 2020 Olympic Games. He commented: "I can tell you now if a country can host a FIFA World Cup successfully, that country can definitely organise the Olympics."

The success of the event could have a roll-on effect for the property market in South Africa. As overseas buyers look into the possibility of taking advantage of the increased tourism and economic activity of the World Cup event, they could provide a welcome boost to the South African property market.

7/16/2010 11:18:36 AM