The amount of land owned by foreigners: 3% Of the 280 395 registrations between 2013 and 2014, only 8 530 were to foreign buyers. 24.5% of total foreign buying is estimated to be buyers from the rest of Africa. R9.7bn was injected into the economy last year through foreign buying. Nationally, only about 700 out of almost 24 000 monthly sales are to “foreigners”, according to recent Lightstone data.
Non-resident buying is highest in the Cape metro, around 4%. According to Propstats, “foreigners” recorded around 456 sales (R2.1bn) out of a total of 10 321 (R18bn) registrations recorded by Lightstone for the area in 2014. This amounts to about 38 monthly sales out of a total of 860 sales.
The foreign-favoured Atlantic Seaboard and City Bowl recorded sales of 217 properties (worth R1.2bn) to foreigners out of a total of 1 678 (R7bn), representing just over 10% of sales for the strip last year, according to Propstats.
Only eight of the 51 most expensive properties were sold to foreigners. The four highest prices were paid by South Africans.
R11.3bn worth of foreign-owned property was sold between 2013 and 2014, exceeding foreign purchases by R1.6bn.