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Why buying local homes can be lekker With R4 million, South Africans can get a lot of home, depending where they choose to buy BY BONNY FOURIE bronwyn.fourie@inl.co.za
Letter from the editor LOCAL is truly lekker when it comes to getting the most bang for your buck when buying property here compared to overseas. This week our writer Bonny Fourie went in search of what R4 million could buy you in South Africa compared to property in four other countries overseas popular with locals. It makes for an interesting read to see just how much more space and amenities we are afforded here – given you have the money to invest in property. It is certainly square metre for square metre more attractive to buy here. Unless, of course, you choose to invest in the seaside city of Taranto in Puglia, Italy. Here the city is selling off abandoned buildings for only one euro. The one strict rule: buyers need to renovate the property within a year of purchase. And you don’t even have to stay in the place – a new clause allows buyers to use the home seasonally or let it as a bed and breakfast if they don’t want to live there full time. About 50 flats in nine different buildings – in desperate need of renovations – are ready and waiting for buyers, according to the city’s website. If buyers fail to abide by the rules however, the municipality takes back the home. Selling abandoned homes in Europe for a symbolic amount to counter population decline in rural towns and villages is nothing new and has been a trend that began in Italy in 2008. Now places all over the world use this in an attempt to fill up villages abandoned for the city by those of a working age. The one-euro deal is a bid to try keep the villages going and is also seen today in places such as Japan, Switzerland, Spain and Croatia. Of course, if you have the money and choose to live in a vibrant (certainly not abandoned) place, South Africa, it appears, is still very much a win compared to other spots around the world.
LIKE anywhere else in the world, residential properties in South Africa differ greatly from province to province and area to area. A home in or near a main metropole will give you less but cost you more than one in an outlying area, with the flip being its convenient location. Here is what R4 million can buy in three areas in South Africa:
The three-bedroom home in Musgrave, Durban for R3.99m.
KZN – MUSGRAVE, DURBAN Price: R3.99m Bedrooms: 3 bedrooms, 2 bathrooms Size: 550m² External features: Garden, private courtyard from one bedroom, studio
flat, outside room, 2 covered parking spaces and 5 open parking spaces. Location: Close to DHS school, Musgrave Mosque, the city, commercial areas, malls, restaurants, and entertainment facilities. Source: RE/MAX Panache
The five-bedroom George home with a price tag of R3.95m.
WESTERN CAPE – DENVER PARK, GEORGE Price: R3.95m Bedrooms: 5 bedrooms, 5.5 bathrooms Size: 1093m²
External features: 3 garages, pool, garden, patio, braai facilities. Location: In a well-established suburb close to all amenities. Source: Rawson Property Group
R3.95m could get you this three-bedroom home in Glenvista.
GAUTENG – GLENVISTA, JOHANNESBURG Price: R3.95m Bedrooms: 3 bedrooms, 2 bathrooms Size: 1032m² External features: 2 flatlets, 2 pools
(one indoors), patio, garden, braai, lapa, electric fence, irrigation system, triple garage plus parking for 6 cars, Location: In a boomed-off area close to schools, food and entertainment offerings and sports facilities. Source: RE/MAX Superior
Warm regards
Vivian Warby vivian.warby@inl.co.za
DISCLAIMER: The publisher and editor of this magazine give no warranties, guarantees or assurances and make no representations regarding any goods or services advertised within this edition. Copyright ANA Publishing. All rights reserved. No portion of this publication may be reproduced in any form without prior written consent from ANA Publishing. The publishers are not responsible for any unsolicited material. Publisher Vasantha Angamuthu vasantha@africannewsagency Executive Editor Property Vivian Warby vivian.warby@inl.co.za Features Writer Property Bonny Fourie bronwyn.fourie@inl.co.za Design Kim Stone kim.stone@inl.co.za
