South African property market 'will pick up in 2013
Tag: South African, South African market
Summary: People relocating abroad to the Western Cape of South Africa and making investments in the country's real estate might expect the value of their assets to begin increasing in the future.
People relocating abroad to the Western Cape of South Africa and making investments in the country's real estate might expect the value of their assets to begin increasing in the future.
Spacesa.com director Darren McDermott explained the property market in the region has remained "pretty flat in growth and sales" since 2008.
This contrasts with the real estate sector in other countries that experienced a boom in house prices before 2008, where large drops of up to 40 per cent were seen after this time, he pointed out.
South Africa's market is expected to "start picking up in 2013", the expert declared.
Coastal resorts are particularly popular as "everyone wants to live with sea views", he stated.
Mr McDermott said this is where people can "see real value", comparing it to similar housing near to the Mediterranean.
International private medical insurance could be useful in South Africa, as the British government's Foreign and Commonwealth Office noted hospital treatment in the country's larger cities can be quite pricey, although it is good.
More rural resorts have more basic medical provisions and in many remote regions, air evacuation can be required, it added.
A range of diseases exist in the country that many be unfamiliar to expatriates, including cholera, rabies, malaria and tuberculosis.
Some provinces have also experienced human cases of Rift Valley fever.
Furthermore, the 2010 Report on the Global AIDS Epidemic, which was conducted by the World Health Organisation Working Group and UNAIDS, revealed 17.8 per cent of the adult population are living with HIV, while in the UK this figure is around 0.2 per cent.