South Africa Overview
In recent years the South African property market has regularly appeared in the headlines. Investors and second home owners have profited immensely due to the spectacular prices caused by the recovery of the Rand. This has begun to put some investors off as they feel the money has already been made and the ‘bubble has burst!
There is however more to the South African property market than the currency speculation. South Africa offers great value along side the natural wonders of the Western Cape, the coastal garden route, game reserves such as the Kruger National Park and very well known wine regions.
The coastline is rugged and picturesque and has for a long time been popular with foreign tourists. The Western Cape is largely popular due to its scenery and prices of property close to the upmarket beaches reflect this.
Despite recent price increases, the South African market is still looking positive. The nation’s natural beauty and sunny climate together with the quality and pricing of the latest developments ensure South Africa still remains excellent value compared to that of most of Europe and North America.
It is indicated that the countries political situation is at present stable and will remain that way. The government supports the property market and foreign investment and it is seen as being the countries core development.
South Africa is an emerging market with a rich supply of natural resources, a well developed financial, legal, communications, energy and transport sectors. The South African stock exchange ranks one of the 10 largest in the world. However, this growth has not been enough to lower the high unemployment rate and various economic situations remain from the apartheid era.
Location
South Africa is located on the Southern most tip of Africa. It is bordered by Namibia, Botswana, Zimbabwe and Mozambique. It encompasses the mountainous kingdoms of Swaziland and Lesotho. The country is flanked by the cold Atlantic Ocean on the West coast and the warm Indian Ocean on the east coast giving the country its spectacular range of biodiversity. (See map for regions of South Africa).
Climate
Climate conditions range from a Mediterranean in the South west corner, to a temperate climate in the interior plateau and a subtropical climate in the North West. Most of the country experiences sunny days and cool evenings.
Cape Town temperatures increase from October to March and are generally hot and dry. The strong south easterly wind is well known to many residents. Rainfall mainly occurs in winter.
Johannesburg, Pretoria and elsewhere on the highveld the winter months have sunny and dry days followed by cool and sometimes cold nights. Summer days are hot and sunny with frequent and thunderstorms.
In Durban and other low lying parts of Kwazulu Natal, winter temperatures rarely fall below 18°C and summer months' temperatures range from 25°C to 33°C with often high humidity. Rainfall occurs mainly in the summer, from November to March.
Population
The population In South Africa is one of the most complex and diverse in the world. The are approximately 45million people of which 31million are black, 5 million white, 3 million coloured (mixed Africa, Asian and white descent) and 1 million Indian. This averages out to 32.9people/km².
Languages
South Africa has 11 official recognised languages: English, Afrikaans, Xhosa, Zulu, Sepedi, Setswana, Sesotho, Zitsonga, Siswati, Tshibenda, and Ndebele. English is widely spoken throughout the country. English is the language of commerce and banking as well a government and official documents.
