A country located in the southernmost part of Africa, South Africa used to be under European colonizers, specifically the Dutch and the British, for centuries. After declaring itself a republic in 1961, it now has three capitals. Namely, these are Pretoria, otherwise known as Tshwane, which is the executive capital; Cape Town, which is the legislative capital; and Bloemfontein, which is also known as Mangaung and which is also the judicial capital. Its largest city, however, is Johannesburg. Needless to say, the aforementioned are only some of South Africa’s major cities of trade and commerce, with Port Elizabeth, Durban and Germiston finishing off the list.
Also, about three-fourths of its population of approximately 44,200,000 is composed of Black Americans, with the rest consisting mostly of Europeans and those of mixed and South Asian descent.
Affiliated with the Southern African Development Community, this prosperous nation continues to uphold an auspicious trade balance with its prime trade partner countries, specifically world powers Germany, the United Stated of America, Great Britain, and Japan. To this day, it thrives on a sweeping and wide-ranging foreign trade with the said industrial giants.
Until the 1800s, South Africa depended generally on agriculture for its economy. Since then, however, its market has evolved to thrive on foodstuffs, cloths, clothing, wine, drinks, chemicals, machinery and equipment, motorized vehicles and forest products. Aside from specializing in iron, steel and other metal products, this ultra modern nation is also a leading country in the making and mining of gold, diamonds, platinum, vanadium, aluminosilicates, chromium and manganese. It is also a forerunner in yet other metals such as titanium, silver, copper ore, coal, iron ore, asbestos, and uranium.
With its export industry booming on diamonds and other precious minerals and metals, as well as foodstuffs and processed victuals, South Africa has indeed been flourishing as a highly industrialized nation. As such, it has been attracting a constant stream of investors, both local and foreign, to its affluent terra firma.
It then comes as no surprise that commercial property in South Africa continues to be a hot market, with investors in trade giants such as Great Britain, Germany and Ireland, continually coming in and putting a stake on South Africa’s lucrative and well-paying commercial property market. Very importantly, the interest in making medium- to long-term ventures in this stately nation continues to increase, with the number of parties looking to invest in commercial property in South Africa with capital scoping from about R10-million to about R200-million.
In particular, most investors are searching for superior stock, as well as occupant credibility. There is also a particular inclination towards 10-year leases with recognized corporations, with solitary a first-rate and topnotch commercial property. This is one reason for the popularity of South Africa’s commercial property, as it has a lot of this to offer.
Furthermore, Cape Town has been found to be the most attractive for foreign investors to lease into, its mammoth appeal attributed to its heightened global exposure and well-known potential for capital augmentation in the commercial property industry. Nonetheless, the cities of Johannesburg, Bloemfontein, Durban and Port Elizabeth are not to be left behind in terms of opportunities for investment growth.
Although costs of commercial property in South Africa are not exactly low, the wise and farseeing investor would very well see the prospective enormous capital growth that can be made here.