World Cup to Transform SA Property Market
An international property website reported yesterday that the Fifa 2010 World Cup is expected to inject as much as £ 1.5 billion (around R23.4 billion) into South Africa, as tourists and visitors from all over the world fill up the stadiums, restaurant and hotels in the country. This, and the current expansion of the local infrastructure will ensure that the South African property market will become an even more sought after investment wonderland.
According to Lloyd Cornwall, Managing Director of Pin High Property in South Africa, our country has already made a name for itself in the global property market. He added that property here is still undervalued but that continued investment in the lead up to the World Cup will balance the market once again.
Cornwall encourage potential buyer to invest now, before the market reaches a new level. He added that both long and short-term investors can expect to see tremendous results.
On a different note, Donald Trump has decided to expand his property portfolio to South Africa. In partnership with local businessman, Neill Bernstein, they will work on a variety of properties, including golf estate, hotel and residential development.
Other areas that host Trump’s developments are Dubai, Panama, Asia.
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