Africa & Middle East | South Africa
South Africa
Demand for high-end properties
on South Africa’s dramatic
coastline remains stable
In recent years South Africa has seen a flourishing
housing market, thanks to a rise in incomes, economic
growth, mortgage accessibility and an attractive fiscal
policy. Houses in the mid-market segment have trebled
in price since 2000, seeing as much as 33 per cent
growth in some years. Luxury houses have also seen
their prices double since 2000.
High level of growth
Despite the growth seen since 2000, the market slowed
down in 2008. This is due to the global credit crisis,
rising inflation and the widening gap between income
and prices, which is due to increase throughout 2009.
At the top of the market though, wealthy individuals, Moving to the paradise islands of the Indian Ocean,
Four of South Africa’s
provinces benefit
second homeowners and investors continue to demand residential property in prime locations such as the
from bordering its
exclusive properties in prestigious locations. Most Seychelles and Mauritius remain ever-popular.
stunning coastline.
significantly, prime coastal areas, where homeowners
can benefit from sea views and great leisure facilities, Demand for coastal property
have seen the most significant price increases. International tourism to South Africa in 2006 grew to
Four of South Africa’s provinces border its dramatic 8.39 million visitors, an increase of almost 14 per cent
coastline, and the low number of prime properties in on the previous year, which accounted for R74.2 billion
these prestigious locations has contributed to rising in direct spend.
prices. In the past four years, average coastal property Owing to the good year-round climate, tourism
prices have increased by 25 per cent per annum, with levels are stable throughout the year, and South Africa
strongest growth being seen on the southern coast of is increasingly becoming a key golfing destination for
the Western Cape, where values are also highest. European golfers. n
Property Focus
High-end quality
residences in
South Africa and
the Indian Ocean
Maanschjnkop, Western Cape
This gracious thatched homestead has 6 luxurious suites
with air conditioning, two heated pools and manicured
gardens, which benefit from stunning views.
Price: R35 million
Eden Island, Seychelles
Contact: Eden Island, located, just off the coast of Mahe in
Ila Amba Seychelles, offers a range of freehold luxury homes, all
+44 (0) 20 7016 3740 with private mooring, ocean views, and plenty of space.
iamba@savills.com Price: From US$375,000
26 savills global residential review
Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36