Weak south african rand good news for foreign buyers

The weak South African rand is good news for foreign buyers.

South African property has seen its house prices grow over 20 per cent annually in the last four years, which makes the market attractive for investors. However, in dollar terms, property value has actually decreased in value by 23 per cent because of a 64 per cent devaluing of the rand.

While this is bad news for domestic buyers, overseas investors are able to take advantage of affordable conditions.

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