Some of the reasons that have propelled South Africa to prominence in recent times are numerous. The country has of late managed to achieve stability for the Rand .This is attributed to the fact that its external accounts have improved tremendously in the recent past thus assuring investors that their return on investment will not be subjected to fluctuating foreign exchange rates.
Other reasons that have contributed to the rush for property in South Africa are availability of good infrastructure, well-developed financial, legal, communication, energy and transport sectors. The country's vibrant media has also played a substantial role in advertising "Invest South Africa" to the rest of the world.
Investors wishing to put their money in commercial property in south Africa are nevertheless required to comply with certain regulations such as tax laws amongst others However South African government has endeavored to reduced the compliance burden for investors by establishing a one-stop-shop where an investor can meet all the requirements. In fact, they can even submit the necessary documents by electronic means and get on with their thing hassle free. You should not be surprised then that the country was ranked 18th most attractive foreign direct investment destination worldwide in a 2007 survey.
Investors would not be trooping to South Africa for nothing and that is why the government is offering hordes of incentives just to make sure they keep flowing. It has gone out of its way to offer a favorable investment climate by way of low tax rate, legal protection of property, reasonable regulations etc. Even regional governments have played their parts to attract investors by reducing rentals for land and rates for basic facilities. Corruption, which has always been a hindrance to investors in the developing world, has remained significantly low in South Africa.
Property investors therefore cannot afford to ignore the mantra of "Invest South Africa" as there are unlimited possibilities that exist out there. Cape Town still leads as the most favorite destination due to its international exposure and high appeal. For this reason, investors in property here tend to ignore cost as a key element when deciding to invest in Cape Town. With the 2010 world cup just around the corner, opportunities for investment have definitely spread to other regions such as Johannesburg, Bloemfontein, Mpumalanga, Durban, and Port Elizabeth amongst others. So, any time you think about where to invest, South Africa should be at the top of your mind. As a prospective investor, do not let these opportunities pass you by.
