European buyers still serious about SA property

At international property exhibitions held late last year in Cologne and Hanover in Germany, Pam Golding Properties reports ongoing interest in South African residential property among European - particularly German buyers, including those planning to relocate here or retire here some time in the future.

Dr Andrew Golding, CE of the Pam Golding Property group, says the response to the Süd-Afrika Tage 2005 exhibitions was extremely enthusiastic, with the emphasis on serious, quality purchasers rather than quantity.

"We saw a high number of serious buyers, who were well informed regarding the South African property market. Many were already committed in the near future to travelling to South Africa with a view to purchasing property," he says.

"In Hanover we recorded 21 purchasers and 31 in Cologne, and we are currently in the process of assisting them with information in regard to specific properties here, with the main areas of interest being the Boland and Overberg region of the Western Cape, the Eastern Cape and the Garden Route. Some were seeking second homes or investment properties, while others were planning to relocate here or retire here some time in the foreseeable future. Those purchasing for leisure use intended spending six months or more here each year, while on holiday," says Dr Golding.

He says while the average price of homes they were most interested in regarding second home purchases was under R2,.5 million, there was also specific interest in wine farms in the Boland region, guesthouses and other investment properties beyond that price range - particularly among those who wished to relocate to South Africa.

The German buyers showed keen interest in business opportunities, for example wine farming with a tourism element. Others were seeking a home within a secure farming environment, such as within a lifestyle estate.
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