Any foreigner can buy property in South Africa. This includes – in contrast Namibia – farms and farmland. Because of the favorable exchange rate of the property in South Africa is affordable. For example, a house costs in a good area of ??Cape Town, with pool and large garden, a little more than U.S. $ 250 000
The apartments are offered for less than $ US100, 000. In other areas, such as KwaZulu-Natal., It is still cheaper. The Cape region is the safest place to invest in the property, because there is still a strong influx of buyers from the region of Johannesburg, has kept prices. The Garden Route is a growth area, as well.
Real Estate
The real estate market in the country is 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 information) if you are interested in buying the property. When it comes to signing a contract or an offer to buy more, the agent will maintain the legal procedures necessary measures.
Market survey
To get an idea of ??the market situation, you have preferred a critical look at the properties in the region. Large newspapers (eg Cape Argus) published a large section of land every weekend, where you almost all the places to find sales, advertising with photos. Many houses are “exposed” on Sunday, which means that they can be seen without prior notification.
House prices
The property is located generally at a price 10 to 15 above the price that the seller is expected to reach out to tender. You must keep this in mind and bid accordingly, if you’re interested in buying something here. If the seller accepts your offer, a deposit of 10 percent is usually required.
The transfer of ownership is by a lawyer, who also led the checkout process. Registration for the “Deeds Office” takes 6-8 weeks. At this time a real estate transfer tax is levied, the sale between 5 and 8 percent of the amount, depending on the value of the property. The lawyer receives about 1 percent.
Real Estate Financing
Be very careful when you are considering a home purchase financing with a bank loan are. The local rate is approx. 13 percent today. European banks are very reluctant to finance properties in South Africa, so the cash is usually the only option.
The purchase of a farm in Africa
Many people dream of their own farm in Africa. This dream can be fulfilled, but – not to underestimate the problems that go with owning a farm – especially a non-farmers. Without the proper know-how can such a property are very expensive. In the Cape region, have agricultural land, especially the lucrative wine and fruit plantations, are very expensive.
An affordable option is always a consequence in the Midlands of Natal, below the Drakensberg Mountains, where you can buy a paradise of forests, rivers, streams and lakes on hundreds of acres for less than U.S. $ 300 000 Game farms, especially in Mpumalanga, are interesting investment opportunities.
