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.

Warm regards

Vivian Warby vivian.warby@inl.co.za