select
|

Cash-flush Sub-Saharan visitors eye Sandton

This is the view of luxury home marketing specialist Ronald Ennik, CEO of Ennik Estates, an affiliate of Christie’s International Real Estate.

To illustrate the point, Ennik says:

“We are seeing an uptrend in interest from Southern and Central African based investors in top end properties in central Sandton areas such as Sandhurst and Hyde Park

“Invariably they are executives who are continually mobile between Europe, South Africa and the rest of Africa – particularly within the realms of banking, other financial services, trade and industry,” says Ronald.

“The underlying reason for this interest is the explosion of economic activity and growth in sub-Saharan Africa – where consumer spending is expected to reach US$1-trillion by 2020, compared with US$600-billion in 2010.

“It has come predominantly on the back of two major factors:
  • the smartphone revolution that is sweeping through Africa, making it possible for domestic and cross-border trade to happen even in areas with little or no infrastructure
  • the rising flow of foreign investment into Africa – not least from BRIC countries China, Brazil, India and, of course, South Africa,” says Ennik.


“This is reinforced by the fact that Industrial & Commercial Bank of China (ICBC) – reportedly the largest bank in the world (by market capitalisation) – opened an office in Cape Town this month,” he adds.

“This economic metamorphosis in Africa is creating a new generation of cash-flush Sub-Saharan African executives, investors, entrepreneurs, and even informal traders, who are now regular visitors to Johannesburg. And Sandton is usually the base from which they conduct their business” says Ronald.
“The reverse of the process is that Sandton also tends to be home to the expatriate personnel of foreign business interests that use South Africa as the doorway to the trade and investment opportunities that now abound in Africa.

“For these business visitors, Sandton is their shopping basket – particularly the new-look, state-of-the-art Sandton City, where some of the world’s iconic brands, including Zara, have recently opened outlets. Others, such as H&M and Topshop, are set to follow.

“More important, Sandton is also their viewing platform for the residential property investment opportunities that the area has to offer – in a truly First World environment, characterised by a vibrant and rich diversity of high street living,” says Ennik.

Sandton’s rich mosaic of five-star hotels, restaurants and clubs, as well as the world-class Gautrain rapid rail system right on its doorstep, add to the appeal, he concludes.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 21 Feb 2018
      Given the hand they were dealt, government has performed a delicate balancing act which it is hoped will serve to reignite confidence in investment in South Africa, regain our global credibility and satisfy the credit ratings agencies, says Dr Andrew Golding, chief executive of the Pam Golding Property group.
    • 21 Feb 2018
      The real estate mantra, ‘location, location, location’ remains a strong market influence regardless of the prevailing economy, with suburbs like Rondebosch enjoying the buffering benefit of being ideally situated.
    • 21 Feb 2018
      These days most buyers are using online property portals like Private Property when house hunting due to the convenience, up to date information and variety on offer. “The property portals have revolutionised the way buyers shop, but they do need to be cautious – viewing photos online is no replacement for viewing the property in person,” says Bruce Swain, CEO of Leapfrog Property Group.
    • 20 Feb 2018
      Owning a home is a milestone that most South Africans aspire to. Becoming a homeowner is a step towards growing personal wealth and owning an asset that appreciates in value over time, provided of course that the correct principles are applied during the buying stage of the process, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
    • 20 Feb 2018
      The suburb of Greenstone in Johannesburg east came to be over the last two decades. “In the beginning, it was literally just a hill with not so much as a shopping centre,” says Michael Levy, Property Consultant at Jawitz Properties Bedfordview. Today it has plenty shopping facilities and is fully built, boasting high-density, upmarket housing and residential estates, though still has a few pockets poised for commercial development.
    • 20 Feb 2018
      A major shift in the ageing paradigm has precipitated an equally dramatic transformation in the retirement sector, with modern accommodation options worlds away from the conventional model.
    • 19 Feb 2018
      Possibly one of the biggest sources of contention between landlords and tenants surrounds the rental deposit. “Most tenants rely on getting their rental deposits back when moving, so that they can use it to pay a deposit on their new home. Having it withheld or even having large amounts deducted can lead to a lot of distress,” explains Bruce Swain, CEO of Leapfrog Property Group.
    • 19 Feb 2018
      Situated approximately halfway between Johannesburg and Pretoria, Midrand was established in 1981 and forms part of the City of Johannesburg Metropolitan Municipality. It has become one of the major business hubs in the country with major pharmaceutical, textile, telecommunication and motoring giants situated within its boundaries.
        
    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