South Africa Property Looking Good

South Africa is starting to look particularly good to foreign investors as confidence in the market has steadily grown over the past year. The BRIC group is set to include South Africa and to become the BRICS group which should further boost the country's popularity.

All the countries in this group are tipped to become global economic powers which could one day eclipse the economies of today's richest countries. This exclusive group includes Brazil, Russia, India and China who are all countries which have proved to be of great interest to property investors.

Property prices in South Africa have risen an average of 8.3% in the previous year, but one of the most popular suburbs of South Africa saw prices rise by nearly 50%, although these massive rises are thought to now have stabilised but should still offer returns of between 8 and 12%.

Many property developers are concentrating on exclusive developments which should appeal to foreign investors, and which offer innovative designs which will always attract buyers. Some foreign investors may have been worried about the stability of the Rand, but the last three or four years have shown it to be one of the best performing currencies.

The South African president Jacob Zuma had been petitioning to join the BRIC group for a long time, and the invitation to join came from the Chinese president Hu Jintao.

The Chinese have long been aware of South Africa's rich natural resources and are very keen to forge a good relationship with this country. There seems little doubt that investors would be wise to look at South Africa very closely.

South Africa Highlighted for Investment Potential

The investment opportunities in the Cape region of South Africa has been growing and is expected to be a prime area for foreign investors to take advantage of this potentially profitable season.

Part of the confidence and stability has come from the recent football World Cup which brought a good number of visitors to the area. Director of Ronnie Matthew Estates, Audrey Matthews, states that property along the Atlantic coastline have been stable despite falling prices around the world.

The coastal area is a beautiful place to live with its breathtaking sea views and close proximity to the beaches. It is a well sought after area to reside, especially the Atlantic Seaboard area. The beauty is hard to match with the view of the Twelve Apostle mountains against the magnificent ocean. The potential of long term investment opportunities is favorable as this coastal property becomes more and more popular.

Investors are doing their homework by taking the time to research this area and compare it to other possible foreign investment areas and have found out that the return on long term investment is comparable with other hot property markets around the world.

Cape Town is becoming more and more a choice for retirement and holiday homes, as well as a choice location for tourists. With the economic growth predicted to remain steady for the next ten years, it is anticipated that the property market will increase as well, inviting foreign investors to sow into this beautiful area