New frontiers likely in locals’ property hunt
Potential markets in Nordic nations and north Europe
South Africans are trying to buy commercial property worldwide as they look to build defensive diversified real estate portfolios, with various companies expected to invest in new markets in 2018. It seems investors may even look to put their money in central and northern Europe. Garreth Elston of Golden Section Capital says potential new markets for South African investors are Nordic countries such as Sweden, Norway and Finland as well as France, the Netherlands and Ireland. Another option could be Canada. Because of a weak South African economy and poor business confidence over the past three to four years, many local investors have shifted money offshore, with the bulk of it going into eastern Europe. Recently, they have looked to southern Europe, specifically Spain and Portugal.Some property funds are expected to look at new markets in 2018, given the lack of opportunities at home, the volatile rand and political uncertainty. The opportunities are likely to be dominated by Europ...
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