Weak rand moves RSA up on overseas buyers’ shopping list

South Africa is returning to the radar of overseas property buyers as the Rand becomes devalued significantly against other countries.

Berry Everitt, managing director of the Chas Everitt International property group, said: “Since May, the value of the rand has shown a sharp decline that was bound to catch the attention of overseas investors, especially in the light of the economic distress in Europe.”

Everitt added that this is reflected in the fact that nearly 30% of enquiries are now coming form outside South Africa.

Source: OPP