South Africa

South Africa is the second largest economy in Africa, and the most industrialised. It has a population over 60 million people and 11 official languages, including English. The property market is mainly steady, with the economy largely holding firm, in recovery post pandemic. Around 60% of South Africans own their own homes.

There are 101,000 South African nationals resident in the UK (Office of National Statistics - 2021). For expats, there are opportunities to invest back home. This includes a number of apartments offering excellent value in quality new developments, with potentially strong rental returns. Our affiliate partners are best placed to advise. They can let and manage property too!

There are no restriction on foreigners buying property in South Africa, although there are conditions in certain cases, and relocating requires visas. The UK is one of 52 nationalities permitted to visit South Africa up to 90 days, visa free. Another 28 can visit for up to 30 days. There are 12 types of long-term visit visas, including a Retired Persons Visa where there is a minimum monthly income required. Consult the Embassy for details.

South Africa has some of the most stunning scenery in the world – and the best food and wine. There are glorious beaches, mesmerising wildlife, adventures and activities, diverse culture and lifestyle choices from sophisticated city to laid-back country. The climate makes outdoor living the norm. This said, there are problems in society, largely around poverty, unemployment and personal safety. The safest places arguably lie in Cape Town, the Western Cape and along the glorious Garden Route, also popular with tourists.

Mostly, property sells through real estate agents registered with the Estate Agency Affairs Board. The buying process is relatively straightforward and becomes binding early on, when both parties sign the offer, Agreement of Sale. A conveyancer (attorney) is appointed by the seller, but paid for by the buyer. The conveyancer delivers the title deed, the process taking 6-8 weeks typically. South Africa is thought to have one of the best deeds registration systems in the world.

Property in South Africa may offer great value to outsiders, but fees may cost extra. Allow 5-15% on top of agreed price to cover purchase costs, including transfer duty, registration fee and conveyancing fee. It is normal for foreign buyers to pay a 50% deposit. Al loans to foreign nationals are subject to approval from South African Reserve Bank. A bank account is required for a mortgage.

Whether you are an expat looking to reinvest back home, or a cash buyers looking to invest, buy a holiday home or relocate you will benefit from the best foreign exchange advice – our award-winning currency partners, Key Currency are on hand to help.

Our affiliate partners, SEEFF, are the most established real estate brand in Southern Africa with over 200 branches and 12,000 agents throughout South Africa, Namibia, Botswana, Zimbabwe, Zambia, Eswatini and Mauritius. Please do get in contact with us and we can connect you.