Luxury Homes in SA
It is a buyer’s market for luxury homes in South Africa
South Africa is world-renowned for its spectacular beauty, diverse landscapes, and many attractions. Many visitors to this country fall in love as soon as they set foot here, which explains why so many decide to invest in luxury homes and move here, whether on a permanent or temporary basis, to take advantage of the incredible weather and beautiful scenery.
One of the reasons that attracts people to South Africa and that makes luxury homes so popular here is the fact that there are so many options to choose from. The country has a healthy property development industry that constantly supplements the established housing market with new and updated luxury homes that meet even the most discerning tastes.
Not only are there many different luxury homes to choose from, but there are also a lot of different settings:
- The business hub: Johannesburg is the economic centre of South Africa and the continent, with the headquarters of many multinational companies located here. This makes it a popular playground for successful businesspeople, and the affluent suburbs and opulent urban penthouses offer proof.
- The world’s most beautiful city: Cape Town is known for its unrivalled beauty, and it is a top destination for visitors from all over the globe. With its beautiful mountains, pristine beaches, and lush landscapes, it is a dream destination for all.
- Countryside living: South Africa offers a diverse landscape. Whatever your taste, there is something for you – from luxury homes in the Cape winelands and bushveld living in the north, to mountain views that will take your breath away.
- Coastal and waterside living: With a coastline that stretches from the west, throughout the south, and up the eastern side of the country, there is no shortage of idyllic seaside towns, complete with luxury homes for the beach lovers.
- Gold estate living: South Africa boasts mild weather throughout the year, which makes secure golf estate living a very popular choice. There are many developments to choose from, ensuring you will find a course that matches your style.
This much choice should be enough reason to invest in property in South Africa. But what really clinches the deal are the favourable conditions for those looking to buy luxury homes on the local market.
- Slower property market, more competitive prices: While the property market in South Africa is generally very resilient, it has experienced a slight slowdown in the last few months. This is partly due to the fact that 2019 was an election year, as well as to the slow economic growth experienced by the country. The economic challenges have placed a damper on local buyers’ appetite, due to a decrease in disposable income. This has led to properties spending more time on the market and sellers cutting prices to facilitate faster sales – leading to bargains for buyers of luxury homes.
- Favourable exchange rate: The slower economy also bodes well for foreign investors. Currently, the rand exchange rate is favourable to those with foreign capital. This, combined with the great deals available, makes South African property a very attractive prospect for international investors.
- Positive post-election sentiment: Election years often cause a slight dip in property sales. However, with the election hailed as a great success, and with the election of President Cyril Ramaphosa, there is an unprecedented positivity around the future of the country, affectionately known as Ramaphoria. This has led to an increase in investments in the local market.
Fine & Country South Africa is a leading estate agency that specialises in luxury homes and upmarket properties. We have a wealth of experience and knowledge of the local market, and can help you find the property of your dreams. Get in touch to find out how we can help you secure the perfect deal with ease.