PROPERTY: South African’s Delve Into Foreign Property
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Property investors keen on taking advantage of the superb value offered by the property market in countries such as the UK and Australia, will welcome Treasury’s latest announcement, which effectively relaxes exchange controls.
This is according to leading offshore property investment specialist, Scott Picken, CEO of International Property Solutions. “South Africans are now able to take out R4 million per person and also R750 000 per year as a travelling allowance. This affords greater opportunity to take advantage of opportunities overseas, especially if individuals have already reached the original R2 million limit.”
Picken also maintains that the strength of the rand also bodes well; particularly for investors eyeing Australia, which offers good growth prospects and guaranteed market related rentals available through leaseback programmes.
Business News Sector Tags: Property|