SA is prime investment - Telegraph

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xtermin8or

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Wine-tasting? Bird-watching? A round of golf? A chukka of polo? A ride in a gondola? You name it, South Africa has it. Was it really only twenty years ago that this was a pariah state?

Things are happening so quickly that it can be hard to keep up.

Areas that once used to be regarded as no-go areas at night are being coaxed back into life. There are well-lit pedestrian precincts, police patrols, teams of graffitti-busters, as a great city tries to put its house in order.

"We want to make the centre of the city the heartbeat of the whole region," says Andrew Boraine, CEO of the Cape Town Partnership, a joint publicprivate venture. "There need to be people living here, not just working here." And he is getting his wish. Some 3,000 new inner- city apartments have come on the market in the last six months, at an average price of 800,000 rand (about £60,000).

One of the most impressive properties, right in the heart of the city, is Mandela Rhodes Place, a sparkling one-billionrand (£76 million) development, incorporating everything from stylish high-rise apartments, with spectacular views of Table Mountain, to an inner-city winery.

"Property prices in the CBD are about to rise stratospherically," predicts Frank Gormley, CEO of Eurocape, the developer of Mandela Rhodes Place. Gormley is Irish and, like many of his compatriots, sees parallels between the Cape Town of today and the Dublin of twenty years ago. "This city is in the infancy of its renaissance. By the time of the 2010 Football World Cup, there will be no stopping it."

What's the score?

Why buy

The South African economy recorded a five per cent growth last year
Residential land prices rose by 14.4 per cent last year
The perfectly opposite seasons (South Africa enjoys its summer while we in the Northern Hemisphere are shivering in our winter) and the minimal time difference make South Africa a popular tourist, second home and retirement destination
There are 7.39 million foreign tourists to a country with a population of 47 million
Click to expand...

Telegraph

This from the Telegraph - they gave SA 8/10 as an investment opportunity
 
Some 3,000 new inner- city apartments have come on the market in the last six months, at an average price of 800,000 rand (about £60,000).
Click to expand...

The Landless People's Movement would really clap their hands with pride at these attractive prices.
 
xtermin8or said:
Telegraph

This from the Telegraph - they gave SA 8/10 as an investment opportunity
Click to expand...

How much of an investment opportunity will Cape Town be once the millions of desperately poor people move there?

Beginning to remind me of Mexico. Nice place to go on a holiday if you are a wealthy(relatively speaking) tourista, but it really sucks if you have to live there.

How much does the average hotel or restaurant worker make in Cape Town these days?
 
IamCanadian said:
How much of an investment opportunity will Cape Town be once the millions of desperately poor people move there?

Beginning to remind me of Mexico. Nice place to go on a holiday if you are a wealthy(relatively speaking) tourista, but it really sucks if you have to live there.

How much does the average hotel or restaurant worker make in Cape Town these days?
Click to expand...

There are already lots of poor people in cape town.
 
Funnily enough I spoke to a guy from Dublin and he told me the property market is close to a crash because of the high prices, ordinary people cant afford to buy property anymore so you have all these foreign nationals owning property but nobody lives there.

Cape Town is already very close to this scenario.
Is this actually a good thing?
 
Foreign criminal syndicates are also making huge investments in SA.
 
Take note:
- Property values actually increased by 15.5%.
- Cape Town is governed by the DA.
- If you are a foreigner, a holder of say a Canadian passport, you have a safety net, in the event that you lose your whole investment through expropriation. You will not lose your life savings and be left on the street.
- I will not invest in South-Afrcia, as a South-African, as I can not afford to lose everything, RSA is a high risk, as proved by Zimbabwe ect.
- High risk equals high returns.
- If I were a foreign passport holder, I will surely invest here, developing countries like RSA, contain the opportunity to make the most money, these opportunities do not exist in developed countries anymore.
- Other developing countries include China, India
 
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