South African property tipped for strong 2010

The South African property market will enjoy a good year, it has been predicted.

In a blog for Real Estate Web, Samuel Seef of real estate agency Seef Associates said that the market has been depressed recently because of the recession and the credit crunch, with banks demanding larger deposits.

However, he commented, there is reason for optimism as the recession ends and the effects of lower interest rates are expected to filter through.

Mr Seef also predicted that hosting football's World Cup will help by focusing attention on the nation, although the main impact this will have in terms of raised sales will be felt more fully in 2011.

"It [the World Cup] will certainly open up the country to potential investors and buyers who cannot help but recognise that there is significant value in the cosmopolitan lifestyle we offer," Mr Seef remarked.

The attention of UK investors may be focused on Cape Town, Port Elizabeth and Rustenberg, as these are the cities where the England team will play its group matches.

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