SA ranks as one of the most affordable countries for UK investors
A recent study has found that South Africa ranks as one of the most affordable countries for UK investors looking for luxury second homes.
Proven Partners, luxury real estate marketing specialists, have released a “league table” where they’ve ranked 20 popular destinations based on their affordability for UK second-home investors – and South Africa has come out tops.
The rankings considered factors like property prices, taxes, fine-dining costs, premium car hire rates, flight costs from the UK, and potential Airbnb revenue.
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SOUTH AFRICA STANDS OUT AS 4TH-MOST AFFORDABLE
The study, underpinned by data from 3 600 luxury property listings on JamesEdition and other sources, assigned each country an “affordability score” out of 10.
South Africa stood out at an impressive 4th rank with an 8.7 affordability score, highlighting its cost-effective appeal in the luxury second home market.
The average price for a luxury waterfront 3-bed properties is R12.5M (£551,501), offering remarkable value in the luxury segment.
South Africa’s allure is enhanced by its sunny weather, relatively low living costs, with premium car hire at only R1,402 (£71) per day and affordable fine dining experiences. Flight prices from the UK, however, will cost an eye-watering R34,609 (£1,530).
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Colin Hannan, Co-CEO at Proven Partners, commented, “Although the flights can be very costly, South Africa presents an unbeatable combination of luxury and affordability, making it a magnet for UK investors seeking value in the current economic climate.”
The full table of rankings, with South Africa’s notable position, can be found below.
