Property for Sale in South Africa

South Africa has become a popular location for many people looking to buy a home abroad. The strength of the GBP to the South African Rand also helps make the country a desirable location for a holiday home.

There are no restrictions on property ownership by non-residents.

Property of any kind in South Africa is normally purchased through a broker or real estate agent who should be registered as a member of the Estate Agents Board.

Non-residents purchasing a property in South Africa may borrow up to a maximum of 50% of the purchase price in South Africa; the other 50% of the funds must be brought into the country by the purchaser and transferred from a recognised foreign bank to a bank in South Africa. The total amount that may be borrowed is at the discretion of the commercial bank offering the loan and Pam Golding International can assist in this regard using our in-house Mortgage consultants.

Non-residents who are in possession of a valid South African work permit are considered to be residents for the duration of their work permit and are therefore not subject to borrowing restrictions placed on non-residents without work permits.

Unless you know exactly what you’re looking for and where, it’s sensible to rent a property for a period until you’re more familiar with an area. As when making any major financial decision, it isn’t wise to be in too much of a hurry.