Launch of Overseas Property Sales Company - A first in South Africa
Friday, May 09, 2008
Marketing South African real estate internationally remains a committed focus
of Chas Everitt International, but the leading national property group has now
brought the world of international property investment to South Africans.
The launch of this venture has proved to be well timed due to the convergence
of a number of factors, chief amongst these being;
- the increase in the allowance for overseas investment (currently R2 million
for individual and R4 million for family) plus generous annual travel allowances
not exceeding R500 000
- the substantial growth in real estate equity enjoyed by South Africans in
their properties
- the positive attitude towards real estate investment resulting from a long
local boom
- a weak dollar
Chas Everitt's research shows there is significant numbers of potential investors
keen to investigate real estate investment opportunities in other countries,
particularly at a time when the South African property market has shown considerable
signs of cooling. In addition many with property portfolios are questioning
the wisdom of having all their real estate investments in one country. In addition
to well selected investments resulting in a substantial return on investment
a property purchase can potentially be a vehicle to acquire residency in another
country, an attraction option to those interested in acquiring a second citizenship.
Chas Everitt Overseas Properties will focus on properties that offer the best
investment potential in line with the needs of the particular buyer. Catering
either for individuals who wish to acquire a lifestyle investment (a property
primarily for the use of their own family and friends) or a focused investment
where rental returns and capital growth are the dominant considerations.
An Investors Club will also be structured to manage and facilitate the collective
purchase of properties either through the popular fractional ownership structure
(restricted to no more than four owners i.e. a substantial 25% share) or a share
in a property owning company that will own an international portfolio of property
investments.
A well established and popular trend in Europe, investment in a second home
has been a real estate phenomenon over the last ten years, a boom that has grown
with the enlargement of the European Union. South Africans however, were effectively
denied an early opportunity to invest in popular European markets due to the
low value of the Rand, as well as legal and financial restrictions at the time,
but there are new and exciting developing markets that now offer excellent opportunities
such as Brazil, Argentina, selected Caribbean countries as well as countries
in Eastern Europe.
There are also African countries that deserve attention including Egypt, Morocco
and Mauritius. More costly favorites in the Mediterranean will be available
through an exclusive partnership with one of Europe's largest specialists in
the region, MASA, with properties in Spain, Cyprus, Italy and Turkey.
Chas Everitt Overseas properties was launched on Wednesday 20th February 2008
at the Mount Nelson Hotel in Cape Town. A useful website OverseasProperties.co.za
offers a growing selection of property investments and information.
For more information contact Andre de Villiers or Maxine Ross at 021 673
1520 or e-mail: info@ceioverseasproperties.co.za
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