Investing in property abroad
Cape Town – There is an increased appetite among South African investors wanting to diversify into safe haven markets, including the property sector, George Radford, international property investment firm IP Global’s director for Africa, told Fin24 on Thursday.
Radford said this trend has especially intensified over the last two years.
“Succession planning and retirement planning are becoming more and more important for these SA investors,” said Radford.
“Investor sentiment is undoubtedly dampened by the prospect of political uncertainty, which is why South Africans have historically favoured investing in safe haven markets.”
A survey by IP Global found that South Africans are most concerned about costs and currency fluctuations due to SA’s volatile economic climate.
The UK remains the most popular place for IP Global’s South African clients to invest, followed by Australia. The US and Berlin in Germany are other destinations the SA clients target, but not as often as the UK and Australia.
“The UK remains popular due to its historical ties with SA and the ease of investing. It is also a stable property market with a low risk,” said Radford.
IP Global is currently very active in the greater London area, but has also developed a focus on Manchester over the past 18 months.
