Top notch properties on the move in SA
Following a period of inactivity the market for super luxury property in South Africa has started to trade once again.
Top of the range homes are selling well particularly in Johannesburg according to one agency well established in the South Africa real estate business – Pam Golding Properties.
The market for luxury properties was extremely quiet during 2010 but it seems the super wealthy are back in the game with a vengeance. Buyers in the R10m plus sector have included affluent individuals from Africa including Nigeria, Zimbabwe and Kenya but the majority of buyers at this level have been South Africans.
Other South Africa real estate agents agree that top level properties are once again changing hands and many believe it is as a direct result of owners listing properties at more realistic prices.
Luxury property in South Africa is considerably cheaper than in other major cities across the world - a high class apartment in the city of London recently sold for £17m and a similar property in the centre of Sandton cost just R10m.