Africa &
W

ith good year-round climate and
relatively short flights, both regions
hold strong appeal for UK buyers
Middle East
he hot climate, beautiful beaches, exotic South Africa’s intense natural appeal, with its stunning
Property in Africa and
T
culture and wealth are some of the factors coastline, has seen its residential property market change
the Middle East offers
exotic panoramas,
that attract buyers to the United Arab to favour buyers. Tightening credit conditions in 2008 led
such as this view over
Emirates. It is a rapidly developing region, to a slowdown in the residential market in South Africa. Dubai Creek.
and its various housing markets all have However similarly to the UK, this has led to a wealth of
something to offer. Abu Dhabi sees demand for property opportunities for cash buyers.
continue to exceed supply and with new projects, both Moving to the paradise islands of the Indian Ocean,
planned and under construction, there is evidence that residential property in prime locations such as the
it has not been so affected by the economic downturn. Seychelles and Mauritius remains popular. However the
Oman has been the focus for new high end resort low supply of quality residential product coupled with
development, creating opportunities for the future. As high demand has driven capital values. The strong growth
every year passes, Oman’s intention of becoming the in tourism numbers is fuelling the rental market, raising
Riviera of the Middle East becomes more of a reality. opportunities for investor buyers. n
Meanwhile Morocco has been experiencing an
increase in investment from both nationals and overseas
“Residential property in prime
buyers. Second home demand is fuelled by Morocco’s
dual appeal for coastal living and the historical and
cultural appeal of inland imperial cities such as Fez and
locations such as the Seychelles
Marrakech. New developments in the pipeline aimed at
tourism, will establish destinations such as Agadir. and Mauritius remains popular. ”
savills global residential review 23
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