Any foreigner can buy property in South Africa. This includes – in contrast to Namibia – farms and farmland. Because of the favorable exchange rate is affordable property in South Africa. For example, a house in a beautiful area of Cape Town, with pool and large garden, costs just over $ 250,000.

The apartments are available for less than $ US100, 000 In other areas, such as the province of KwaZulu-Natal. It is even cheaper. The Cape region is the safest place to invest in real estate, because there is always still get a strong influx of buyers from the Johannesburg area, which keeps prices. The Garden Route is also a growth area.

Real Estate Agents

The property market in the country firmly in the hands of a few brokers. Private sales are relatively rare. In South Africa, the agent is paid by the seller, you can simply contact an agency (see page real estate info) if you are interested in buying the property. When it comes to signing a contract or purchase offer, the agent will take the necessary legal procedures.

Market Survey

To get an idea of the market situation, we need a critical look at the available properties in the preferred range. The major newspapers (eg Cape Argus) published an article on all products, wholesale weekend where you can stand almost all the seats for sale, advertised with photos. Many homes are “on show” on Sunday, it means an appointment without term.

House prices

The property is located generally at a price, from 10 to 15 to achieve the expected price the seller is out to tender. You must consider this and offer to take accordingly if you are interested to buy something. If the seller accepts your offer, a deposit of 10 percent is usually required.

The transfer of ownership is a lawyer who also manages the payment transfer. Subscribe to the “Deeds Office” takes 6-8 weeks. At this time a real estate transfer tax is payable, which is between 5 and 8 percent of the total purchase price depending on the value of the property. The lawyer receives about 1 percent.

Property Financing

Be very careful if you plan to purchase a home financed with bank loans. The local interest rate is about 13 percent today. European banks are very reluctant to finance properties in South Africa, for the cash payment is usually the only option.

Buying a Farm in Africa

Many people dream of a farm in Africa. This dream can be fulfilled, but – especially non-farmer – not to underestimate the problems that will have a farm. Without the proper know-how, like a possession can be very expensive. In the Cape region, have agricultural land, in particular the lucrative wine and fruit orchards, very expensive.

An affordable option is still an area in the Natal Midlands, below the Drakensberg Mountains where you can buy a paradise forest, river, streams and lakes on hundreds of acres for less than $ 300,000 U.S.. Farms, especially in Mpumalanga, are attractive investment opportunities.

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