PROPERTY IN SOUTH AFRICA

Property in South Africa used to be relatively low cost, but in recent years has risen considerably, particularly in the coastal areas, although there are still bargains to be had in rural areas, foreign buyers are attracted by the seemingly low cost of South African property. This has led to increased prices although property still remains good value for money compared with most European countries, average prices of property in South Africa are around R635 123 (59,300 GB Pounds) buyers who want to live in the coastal towns or desirable parts of the city will find prices much higher, property in rural areas are much cheaper and in some cases come with a large plot of land, property in need of renovation can be bought from as little as 21,000 GB Pounds.

Real Estate in South Africa consists of many different types of properties from apartments to large houses, businesses, farms and even plots of land, a four bedroom, 2 bathroom detached property with servants quarters and swimming pool could cost as little as 64,000 pounds sterling. South African property owners sometimes sell their property privately to avoid paying estate agents high commissions, properties may be advertised in local bars and shops, estate agents selling real estate in South Africa must display a certificate issued to them by the government and must have taken an examination on estate agency, or completed a years practical training under the guidance of a fully qualified estate agent, most are organized and professional, commissions can be as high as 7.5% + VAT of the cost of the property. When viewing real estate in South Africa, the agent must attend, not the seller, it is quite common for the agent to expect any potential buyer to sign a document prior to viewing any property in South Africa in case the buyer approaches the seller direct, the estate agents will still receive their commission. Real estate in South Africa is advertised in African newspapers and expat newspapers and magazines, estate agents selling South African property offer inspection visits, visitors will be shown round property for sale in the hope of securing a deal, the boom in real estate in South Africa continues, with low interest rates on home loans and mortgages, buyers are confident of spending their money on South African property wisely.

There is an abundance of South African property for rent, either short term or long term, many are holiday apartments around the coastal towns, cottages, bungalows and villas, even castles and stately homes, short term rental property in South Africa is usually up to three months, long term rental property is usually three months or more. Care must be taken when renting property, that the contract is correct, and a detailed list of all items of furniture and other household goods is checked by the landlord and the tenant, rents vary depending on which property in South Africa is rented, prices from 260 GBP for a one bedroom apartment up to 1,500 GBP for a three or four bedroom property.