Australian property 'popular with South African investors'

A growing number of overseas property investors in South Africa are showing interest in the Australian market, according to experts.

Estate agency Pam Golding Properties stated that the country is proving to be a popular choice with prospective purchasers of real estate in South Africa, reports Cape Argus.

Simon Gibb, spokesperson for the company, said much of the interest is coming from people who plan to buy for investment purposes.

However, he stated that some enquiries are also coming from people who wish to live in Australia on a permanent basis.

Mr Gibb believes the decline in the South African currency, as well as growing political uncertainty, has fuelled the recent interest in buying abroad.

He commented: "There is a trend that when our rand is trading less favourably against the major currencies, South Africans look to move money offshore.".

Earlier this week, Paul Arthur of The Emigration Group told the Daily Star that Australia has attracted 23,906 expats from the UK in the last year.
 

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