Many foreigners are dreaming of buying a house in South Africa, especially in the Southern Cape, Garden-Route or the Karoo.
Is this dream possible and what does it mean:
South Africa has a western culture and is an ideal destination for many Europeans to live or just as a second home to spend their holidays. They feel at home and the area offers so much more. Especially people who love nature feel attracted to this country.
What are the advantages:
The many property agents will probably have the house you are looking for, but first inform yourself about all the conditions, the laws in South Africa are different from those in Europe, but most agents respect the ethics and will assist the buyer in making the excellent choice.
The Southern Cape and the Karoo have excellent accessibility. The highways are well maintained and there are several smaller airports.
In most places a decent internet traffic is possible, for the fixed lines Telkom is still the largest distributor and for the mobile network there are several providers. MTN, Vodacom and CellC are some of the biggest providers.
The utilities of water, electricity and sewage system are in most places well maintained and already provided, but be sure to inquire before making a purchase.
Eskom has been South Africa’s largest electricity supplier since 1923, supplying 95% of its power. www.eskom.co.za
South Africa has built up a highly developed synthetic fuel industry. According to the Department of Trade and Investment DTI, the sector contributes about 17% to the gross domestic product.
There is increasing interest in ecologically pure energy such as solar panels and wind energy. More and more solar panels are also appearing on private houses.
South Africa is due to boost its renewable energy regiment thanks to two new wind farms set for construction in the Western Cape.
Source: The South African – thesouthafrican.com/news/south-africa-coal-power-banks-retract-funding
Enel Green Power, a global renewable energy company, has awarded Vestas an order of the biggest wind turbines to ever be implemented on African soil. This ground-breaking development is seen as a positive move towards replacing South Africa’s dubious reliance on ‘dirty energy’ with the renewables.
According to ESI Africa, the 147MW projects, which will debut the V136-4.2MW in South Africa, will also feature Vestas largest rotor diameters on the continent. The Danish company has earmarked two sites in the Western Cape for the development of the new wind farms.
If you want to rent it out as an investment property, the purchase/rental ratio is earned back approximately after 10 years, which is remarkably better than in Europe.
Welcome in the Southern Cape & Karoo!