From Property Showrooms
Ongoing devaluation of the rand could be just the trigger needed for renewed investment in South African property. The currency has been on the slide for some time now, weakening by over 13 per cent in the last year. Sterling is at its strongest versus the rand since January 2009, giving British investors much greater buying power than previously.
Marc Morley Freer, head of private client business at Smart Currency Exchange, notes that an additional draw for foreigners is the decline in South African real estate values.
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