Finding property and accommodation in South Africa is relatively easy as many people choose to work through an estate agent based in their specific location. The estate agent finds a property that suits the expat’s budget and specific preferences. Alternatively an expat can make use of listings in the local newspaper and estate websites.
Properties can be either be rented or bought, depending on the period of time the expat will be residing in South Africa.
Renting in South Africa
South Africa has a wide range of rental accommodation available such as:
- Bachelor flats
- Victorian Cottages
- Stand-alone homes with big gardens
- Units in modern townhouse complexes
Leases are generally signed on a one or two years basis, however the expat will be required to deposit one or two month’s rent in order close the deal.
Buying in South Africa
The investment potential of South Africa property normally lures expats to buy if they are going to reside for a few years.
Luckily for expats there are no restrictions for non-residents on owning property in South Africa. However, foreign citizens are only allowed to borrow up to 50% of the property’s value and need to provide the remaining 50% themselves. Those who reside in South Africa on a valid work permit, are exempted to this restriction.