Xenophobic attack to affect foreign investment in SA’s property market

As affordability levels in South Africa have deteriorated in the recent years, developers from South Africa are eyeing real estate markets in neighboring countries.  However, Xenophobic attacks in Durban recently may also deter foreign investment in South Africa’s property markets in the short term, if not the long term, experts believe.

A fast-growing population is the key reason why international investors are eyeing residential properties in Africa. The continent is expected to be home to four billion people by 2021, nearly 40% of the world’s total population.

Until recently, Africa has been a hot destination for Chinese property developers, but the continent is now attracting property investment from other Asian countries, and also from Middle East.

Joint CEO and Co-Founder of Galetti Knight Frank stated that Africa have seen rising interest from an increasingly diverse range of international investors, developers and occupiers in recent years.