select
|

Trump Win: What it means for South African real estate

Comment on the US presidential election outcome from Berry Everitt, CEO of the Chas Everitt International property group, an affiliate of Leading Real Estate Companies of the World©: 
 
Donald Trump’s surprise victory in the US presidential election is expected to have a mildly positive effect on the SA property market in the short to medium term, says Berry Everitt, CEO of the Chas Everitt International property group.
 


“The rand is likely to recover from market shock that caused a major overnight drop in the exchange rate against the US dollar, the Pound and the Euro, and the good news for SA consumers and homeowners who are experiencing financial strain at the moment is that we do not expect the election outcome to trigger any local interest rate increases.
 
“However, we do expect the rand to continue for the next 12 months at least to trade at levels that make South African property an attractive option for international investors buying with those currencies. Indeed, local real estate is becoming increasingly sought-after among high net worth individuals seeking value for money, good returns and locations that offer a superior lifestyle.
 
“In addition, investors weary of unexpected events such as the Brexit vote outcome and this US election outcome may well decide to ‘park’ in safe haven investments such as gold for the next few months and this will further boost the gold price, which is currently (9 November) up about US$25. This will be positive for the SA economy – and property market - as it will help to protect jobs.
 
“Meanwhile in the longer term, we foresee that Asian currencies will continue to strengthen against the US dollar, and that SA will be a major beneficiary as the middle class in countries such as China, India and Indonesia expands rapidly and the newly wealthy in those countries join the rush to invest overseas, especially in property.”          


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 19 Jan 2018
      Extending from Randfontein in the west to Roodepoort in the east and including the towns of Krugersdorp and Magaliesburg, the West Rand has a plethora of property available to residents who choose to make this unique area their home.
    • 19 Jan 2018
      When it comes to financial planning, doing the work to ensure you’re prepared for unexpected emergencies is just as important as ticking off your other goals and New Year’s resolutions. The beginning of the year is also the perfect time to review your various insurance policies.
    • 19 Jan 2018
      No surprises at the first Monetary Policy Committee of 2018, as Reserve Bank Governor, Lesetja Kganyago, announced that the interest rates would stay at their current levels.
    • 18 Jan 2018
      The Southern Suburbs make up some of the most popular residential areas in Cape Town, comprising charming groups of suburbs which lie to the south-east of the slopes of Table Mountain. It is seen as the city's most expensive residential neighbourhoods with a choice of various private schools, upmarket eateries, wine estates, beautiful homes and trendy apartments.
    • 18 Jan 2018
      New year, new goals! If you’ve resolved to purchase your first property in 2018, then this 6-step guide from the Rawson Property Group is a must-read. It will help you navigate and simplify what is often be seen as a confusing process of buying your first home – right from the house-hunt to the house-warming.
    • 17 Jan 2018
      While the current property market may still favour buyers, it doesn’t mean that they shouldn’t be well prepared before putting in an offer to purchase.
    • 17 Jan 2018
      Lightstone lists Blair Atholl as the most expensive suburb with an average house price of R11.2 million, followed by Westcliff (R10.5 million), Dunkeld (R9.3 million), Sandhurst (R9.1 million) and Inanda (R7.2 million).
    • 17 Jan 2018
      As it currently stands, there are four main ways in which a home can be bought in South Africa, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, who adds that deciding in which legal entity to purchase the property is not a decision that should be entered into lightly, as each has its pros and cons.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK