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A favourable time to invest in South African property and imports

by Sable International | Jun 19, 2013
  • “The recent dramatic fall in the value of the Rand against currencies such as the Pound, Euro and US Dollar, is bound to rekindle overseas interest in South African property,” says Andrew Rissik of the Sable International.
    birds-in-flight

    The recent dramatic fall in the value of the Rand against currencies such as the Pound, Euro and US Dollar, is bound to rekindle overseas interest in South African property,” says Andrew Rissik of the Sable International.

    Early in June this year, the Rand dropped to a new four-year low, amid concerns about the health of the South African economy. According to Rissik, there are several possible reasons for the weakened Rand.

    “There is a shortage of liquidity in the USD space with individuals and companies wanting to buy more USD than was available.” Says Rissik. “This is a result of various factors such as exporters holding onto their forex reserves; Money Market outflows and concerns about the South African government’s lack of economic leadership.”

    But according to Rissik, the sharp decline also brings with it the possibility of a boost to the local housing market.

    “Foreign private individuals should use this opportunity to look into the South African property market, especially in light of the economic distress in Europe. This is also a great time for South Africans to bring money held overseas back home to settle any debts.”

    We are a professional services company that specialises in cross-border financial and immigration advice and solutions.

    Our teams in the UK, South Africa and Australia can ensure that when you decide to move overseas, invest offshore or expand your business internationally, you’ll do so with the backing of experienced local experts.

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    Sable International is a trading name of 1st Contact Money Limited (company number 07070528), registered in England and Wales. We are authorised and regulated by the Financial Conduct Authority in the UK (FCA no. 517570), the Financial Services Conduct Authority in South Africa (1st Contact Money [PTY] Ltd - FSP no. 41900) and hold an Australian Financial Services License issued by ASIC to deal in foreign exchange (1st Contact Group - AFS License number 335 126).

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