Seeff properties has published a new report focusing on property markets across the continent of Africa.
The property specialist said that there are a number of investment opportunities on the continent, with Namibia, Botswana and Mauritius all named as standouts.
You can find a breakdown of these county’s property markets, including costs, detailed below.
Mauritius is shining
Theo Pietersen, Seeff’s MD in Mauritius, said that the island country is highly sought-after by local property buyers, some for residency purposes, but increasingly for holiday/second homes, retirement and relocation.
“Mauritius is fast becoming a second home for South Africans and with the recent changes in the Mauritian government’s property investment legislation, it is now a lot easier to invest in residential and commercial property on the island and there is an increased amount of developments available for SA buyers to invest in, both residential and commercial,” he said.
He added that the country now boasts top-class infrastructure including an excellent banking sector, strong economic growth and a favourable investment and tax climate and is regarded as one of the easiest places to do business in.
Pietersen said that property on the island is also regarded as an excellent investment and if you invest early, you can generally benefit from excellent capital growth.
However, there are limited opportunities to invest, especially in prime seafront developments, he said.
Pietersen said that finance is available from both South African banks as well as in Mauritius at interest rates of 7%-9% but with 40% cash deposit requirements.
He added that South Africans tend to invest between MUR 6,500,000 and MUR 20,000,000 which equates to approximately R2,628,000 to R8,100,000.