Chas Everitt Intl launches Overseas Properties company

News > news - 04 Jan 2008
Marketing South African real estate internationally remains a committed focus of Chas Everitt International, but as from January 2008 the national property group intends bringing the world of international property investment to South Africans.

Trading as CEI Overseas Properties, the launch of this new venture is being timed around the convergence of a number of related factors. Chief amongst these being the increased allowance for overseas investment by South Africans to R2 million (or R4 million for a couple) and the substantial growth in real estate equity enjoyed by South Africans in their South African properties over a long boom period, a weak dollar and a reasonably strong Rand.

Many South Africans, having experienced the benefits of their investment in South African property, are open to looking at new real estate investment opportunities in other countries, particularly at a time when the South African property market shows signs of cooling. In addition potential investors are questioning the wisdom of having all their real estate investments located in the one proverbial geographic basket.

According to Andre de Villiers, CEO of the new Chas Everitt venture, well selected investments in the right country can not only result in a substantial return on investment but can potentially be a vehicle to acquire residency in another country, an obvious attraction to those that are interested in securing a second citizenship or future emigration options.

CEI Overseas Properties will focus on properties that offer the best investment potential in line with the needs of the particular buyer. Catering either for individuals who wish to acquire a lifestyle investment (a property primarily for the use of their own family and friends) or a focused investment where rental returns and capital growth are the dominant considerations.

An Investors Club will also be structured to manage and facilitate the collective purchase of properties either through the fractional ownership structure (restricted to no more than four owners i.e. a substantial 25% share) or a share in a property owning company that will own an international portfolio of property investments.

A well-established and popular trend in Europe, investment in a second home has been a real estate phenomenon over the last ten years, a boom that has grown with the enlargement of the European Union. South Africans however, were effectively denied an early opportunity to invest in popular European markets due to the low value of the Rand, as well as legal and financial restrictions at the time, but there are new and exciting developing markets that now offer excellent opportunities such as Brazil, Argentina, selected Caribbean countries as well as countries in Eastern Europe.

African countries also deserve attention including Egypt, Morocco, Mauritius as well as Zambia and Mozambique. More costly favourites in the Mediterranean will be available through an exclusive partnership with one of Europe’s largest specialists in the region, MASA, with properties in Spain, Cyprus, Italy and Turkey.

A useful website is already online with a growing selection of property investments and useful information.

A launch function will be held on Wednesday 20th February 2008 at the Mount Nelson Hotel in Cape Town. CEI Overseas Properties is headed by real estate stalwart Andre de Villiers who has 20 years experience in South African real estate.
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