South African property companies are currently taking billions of rands out of the country by making investments overseas. This is due to the poor economy, increased municipal rates and taxes, as well as political uncertainty in the sector as well as fears of property occupation.
Investments overseas in 2018 were almost four times more than locally spent. Central and Eastern Europe seems to be the most popular overseas markets.
Experts say if this is a measure of business confidence in the country, then the picture looks very dark for years to come.
Read the original article in Afrikaans on Die Vryburger
South Africa Today – South Africa News