Fractional deal in South Africa 'offering more'

Mon, 25 May 2009 00:00:00 GMT

Those who want more from a property overseas are able to get it through deals such as one being offered in South Africa, it has been suggested.

South African company Zorgvliet is looking to provide more through the sale of a series of properties at Dinkweng in the wilderness area of the Waterberg Biosphere, the Independent reports.

The deal includes access to the firm's 16,000-acre game reserve, giving investors a chance to see animals such as elephants and rhinos, as well as being involved in conservation.

Spokesman for the firm Mac Van Der Merwe told the paper: "Today's buyers are more sophisticated and have higher expectations. They want to see and do more, they no longer want standard holiday property."

The homes are being sold on a fractional basis for GBP 10,000 in perpetuity, with one week of use per year.

South African property is more affordable due to falls in house prices over the past year, an Absa Group survey showed earlier this month.

It revealed a 2.7 per cent year-on-year fall between April 2008 and the same month this year.

Real Estate & Fractional Ownership News in South Africa from Propertyshowrooms.com

Fractional deal in South Africa 'offering more'