Fas­ci­nat­ing facts about South African real es­tate

George Herald - Private Property - - Property News -

While you reach for your wine glass for the third time in the last 60 sec­onds, your part­ner across the ta­ble coughs pur­pose­lessly to try and fill the si­lence of one awk­ward din­ner party. To help you avoid fu­ture un­com­fort­able si­lences, RE/MAX of South­ern Africa has com­piled some fas­ci­nat­ing din­ner con­ver­sa­tion trivia that you might like to men­tion at your next for­mal sit-down:

Most ex­pen­sive home ever sold

One of the most ex­pen­sive recorded real es­tate sales in South Africa was priced at a whop­ping R290-mil­lion. Bought by a Ger­man cou­ple in 2016, the home was sit­u­ated in Bantry Bay over­look­ing the Cape's iconic At­lantic Se­aboard. To en­sure fu­ture pri­vacy, the sale of the home in­cluded two ad­ja­cent va­cant plots so that no­body could build any­thing to ob­struct their views. Talk about se­cur­ing your in­vest­ment.

State owns less than 20% of all reg­is­tered land

As would be ex­pected in a cap­i­tal­ist so­ci­ety, 82% (93 956 125 hectares) of the to­tal

114 223 273 hectares of land is owned by pri­vate landown­ers. The rest falls un­der state own­er­ship.

For­eign­ers own just 2% of South African farm­land

South Africans own 92% of to­tal farm and agri­cul­tural hold­ings while for­eign na­tion­als own just 2%. In terms of prop­erty, of the 726 966 sec­tional ti­tle unit own­ers in the coun­try, 567 148 (78%) are South African na­tion­als while

132 672 (18%) are for­eign na­tion­als. Ac­cord­ing to the Land Au­dit Re­port, 4% falls un­der the cat­e­gory of 'other'.

Roughly 20% of South Africans live in in­for­mal hous­ing

Ac­cord­ing to the Gen­eral House­hold

Sur­vey of 2017 com­piled by Statssa, 79,4% of house­holds in metropoli­tan ar­eas live in for­mal dwellings, fol­lowed by 18,0% in in­for­mal dwellings, and 1,3% in tra­di­tional dwellings. In­for­mal dwellings were most com­mon in Buf­falo City (26,0%), Jo­han­nes­burg (21,1%) and Ekurhu­leni (20,3%) and least com­mon in Nel­son Man­dela Bay (6,6%). Tra­di­tional dwellings were most com­mon in East­ern

Cape (22,3%) and Kwazulu-na­tal (14,4%). Though these per­cent­ages might seem low, the num­bers still trans­late into mil­lions of South Africans liv­ing out­side of the for­mal hous­ing sec­tor.

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