A recent article in the UK's widely read "Daily Telegraph" had the following first paragraph:
"The Euro is in crisis. Stock markets are in freefall. Two prime ministers have been sacked. Italian debt is at record levels and Spain is about to have an early election. Across the pond, America's annual deficit is now measured in trillions."
The article then went on to ask where, if anywhere, the beleaguered First World investor can find a safe property haven investment suitable for holiday use. The answer to the question was given in a survey done by the same newspaper. Guess what? South Africa is ranked sixth in the world in this "Daily Telegraph" survey.
South Africa, Turkey and Saudi Arabia are the markets with the most promising 10-year growth outlook, Bank of America Merrill Lynch says in a report on the long-term growth outlook for the EMEA countries - Europe, Middle East and Africa.
"Based on an analysis of growth determinants from demographics to leverage, we conclude that this decade Turkey, South Africa and Saudi Arabia will improve their growth performance," the bank says.
"The Euro is in crisis. Stock markets are in freefall. Two prime ministers have been sacked. Italian debt is at record levels and Spain is about to have an early election. Across the pond, America's annual deficit is now measured in trillions."
The article then went on to ask where, if anywhere, the beleaguered First World investor can find a safe property haven investment suitable for holiday use. The answer to the question was given in a survey done by the same newspaper. Guess what? South Africa is ranked sixth in the world in this "Daily Telegraph" survey.
The fall in the rand value against the US Dollar, British Pound and
Euro in the past few months has rekindled overseas interest in SA
property.
According to Berry Everitt, managing director of Chas Everitt International Property Group, this has also raised the possibility of a significant boost to the local housing market.
He explains that since May, the value of the rand has shown a sharp decline that was bound to catch the attention of overseas investors, especially in the light of the economic distress in Europe.
People all over the world are searching for safe havens for investing and South Africa with its stable banking system and growing economy is increasingly perceived as a good option in this regard.
According to Berry Everitt, managing director of Chas Everitt International Property Group, this has also raised the possibility of a significant boost to the local housing market.
He explains that since May, the value of the rand has shown a sharp decline that was bound to catch the attention of overseas investors, especially in the light of the economic distress in Europe.
People all over the world are searching for safe havens for investing and South Africa with its stable banking system and growing economy is increasingly perceived as a good option in this regard.
South Africa, Turkey and Saudi Arabia are the markets with the most promising 10-year growth outlook, Bank of America Merrill Lynch says in a report on the long-term growth outlook for the EMEA countries - Europe, Middle East and Africa.
"Based on an analysis of growth determinants from demographics to leverage, we conclude that this decade Turkey, South Africa and Saudi Arabia will improve their growth performance," the bank says.
