Buy Without Your Bank

South Africa - Two Views of the Real Estate Market

"The Economist" magazine recently named the South Africa real estate market as the world's best-performing housing market in the longer term. The magazine maintains a global house price index, and that shows a cumulative 418% rise in South Africa real estate prices over the last 12 years (2007-2009). The magazine tracks 20 other housing markets, and none have shown that level of performance. Australia, Britain and Spain were next on the list, at 181%, 175% and 167% respectively.

Knight Frank Global House Price Index - Q1 2009

May 28, 2009 The Knight Frank Global House Price Index shows pretty much what everyone in the industry expected. Dubai and Singapore show the largest drops in value, with more stable housing markets performing better than those affected by the recent credit boom and subsequent housing bubble, and the decline looking to continue for the foreseeable future. Key points of the report are from Knight Frank’s press release:Global housing markets continue to struggle against a backcloth of economic