Kicking off sa sales

The South Africa property market is expected to boom in the run-up to the 2010 Football World Cup, thanks to the extensive global exposure the host country will receive, according to the Pam Golding property group (PGP)...

Although South Africa has already hosted a number of top-end international sporting events, including the 1995 Rugby, and 2003 Cricket World Cups, the Women's Golf World Cup 2005, and the only street race for the A1 GP World Cup of 2006, the country has never held the FIFA World Cup.

The first ever football World Cup to be hosted on African soil has the potential to be the biggest sporting event of all time. The tournament is traditionally a big hit, and is the world's biggest single code sporting event in terms of audience - including billions of television viewers.

"As we start approaching the six-month build-up prior to the World Cup, it is likely that the hype and enthusiasm generated will have a positive effect on all segments of the market - supplemented by the favourable and significant infrastructural spend," Pam Golding Property group CE Andrew Golding told Business Day.

"The biggest impact of 2010 on the property market in Johannesburg will be the significant increase in the value added to homes in and around the huge infrastructural development that is being put in place for the event," says PGP's MD for Gauteng, Ronald Ennik.

There are various large-scale schemes taking place across the country, which are expected to bode well for residential values nationwide.

Source: www.homesoverseas.co.uk/news