International Investors that are intending to invest in Africa have to think twice — that’s according to experts that say that unlike the Titanic that went down with its light on. South Africa is sinking and going down with its lights off at a rapid rate. Recently media covered the issue on the failing electricity supply of South Africa, but now it seems there is even a greater danger looming in the darkest nights if Africa.
“South Africa coastal waters is known for its sharks, but now it seems they might have taken to land from sea and are everywhere on South African soil,” said a man from Johannesburg, who recently lost everything due to banking fraud and who talked to World News. During the property bubble boom of 2006, properties were sold at much inflated rates, and today the foreign investors are paying the price. Some properties dropped in value from R15 Million to R4 Million, or so it seemed.
One of the properties, which was valued by Seeff Properties for over R 15 Million, today can barely fetch R4 million. In the lower end of R 2 million – only 150 000 Euro – properties seem nice to live in. But wait, this comes at a price. Inflation has been over 21 % and the official figure says 17%, but this is not all. Over 500,000 women were raped last year and over 3700 murders, for which less than 1 % of suspects were prosecuted. It seems like the wild west of Brazil has become the nitrogen of South African living styles…
South Africa Today – South Africa News
