Low real estate values
around the world combined with the relative strength of the rand means that it is now a good time for South African (SA) investors to look overseas at property.
According to Eric Fisher, director of Stonehage Property Partners in London, there are good opportunities to invest in various classes of property abroad and for individuals to diversify their portfolios.
"With prices significantly down from their highs and property markets in many countries at an inflection point, foreign property purchases
continue to be an effective hedge against currency risks," he explained to the businesslive.co.za news portal.
The comments come after the SA government announced that it would be relaxing exchange controls for both companies and individuals looking to invest in various classes of property abroad. Under the guidelines, there is no limit on the amount that can be invested in a property in a Southern African Development Community (SADC) country.
"Aside from potential good value, certain of the SADC countries like Mauritius and Seychelles have an added attraction for South African investors because residence is offered where property is acquired through certain approved projects," the article added.
- Thursday 03 March 2011