Brits lead the charge, but foreign numbers drop

News > news - 07 Aug 2005
The number of foreign property purchasers in Cape Town has began to decline since the boom period of 2002/2003, according to Salma le Roux, general manager of Rawson Properties.

Le Roux, in a Cape Town issued press release that the total monthly value of sales to foreign buyers declined 20,6 percent (to R380 million) between December/January 2004 and December/January 2005. The figures for February 2005 in comparison to March 2005 reveal a 36 percent decline but the March and April figures for this year (2005) show a slight but insignificant increase."

In unit terms, according to le Roux, 216 sales to foreigners were achieved in the recent December/January period and just on 100 in May.

As in previous years, United Kingdom buyers dominated the foreign buyer list and comprised just under 60% of the total. They were followed - a long way behind - by German buyers, who in turn were followed by buyers from The Netherlands, Zimbabwe and the USA.

Le Roux advises Cape estate agents keen to make the most of current trends to concentrate on the steady increase in the number of Gauteng buyers. This, she believes, is where future growth will be achieved.

"Among the non-Cape buyers they are by far the most prominent," she said. "In May, for example, they were responsible for some 16,9% of the total number of ‘foreign’ buyers and this figure rises month by month."

Rawson Properties, said le Roux, is aiming to develop this trend by establishing efficient referral network systems within their Gauteng franchises. Fourteen of these have been set up in the last three months and the Franchise Sales Manager, Nantes le Roux, has predicted that by the year 2010 some 200 Rawson Properties franchises will have been established in Gauteng.
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