South African House Prices Increase by 315%
July 18, 2007 – 10:09 am | by JohanNew Here? You’re Invited To Simon’s Town News Updates Subscribe here.
The latest Economist Global House Price Ranking shows that South Africa is in the number one spot with a cumulative property growth, over the last 9 years, of 315% (1997 to 2006). With an annual growth rate during 2005 of 25%.
Ireland is second at 244% and our traditional neighbours Australia is fifth with 126% and New Zealand is ninth at only 94%.
Although South Africa’s property market is slowing down due to various factors I am of the opinion that the bread and butter market (below R1 500 000) will be the driving force for the slow-down as measured by the ABSA House Price Index. And, therefore, we may see an increase in these buyers who rent homes.
The foreign and Gauteng buyers will continue to inflate the Cape and in particularly Simon’s Town property.
Why particularly Simon’s Town?
I believe Simon’s Town is great value for money when you compare what we have and what we can offer the investor and people who want to move to Simon’s Town.
Have a great day…………
Johan Horak
P.S. Call us today if you want advice on Simon’s Town properties. 082 870 2004 or 021 786 4028
P.P.S. We will rather turn you down today than let you down tomorrow.
P.P.P.S. If you cringe as much as I do at my sloppy spelling please complain here at my central cringe pot. I apologise in advance and will correct it and try harder. If you like what I do please use the space below and tell me…..thanks
SimonsTownRealty: Sell, Buy A Simon’s Town Property? Phone Today 021-7864028 or 082 870 2004
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