When the country joined the Economist’s quarterly property Index many were surprised when it topped the table three months later. House price growth was 35% in 2004. A growing black middle class, a more liberal economy, and positive employment policies have all fuelled a driving growth in South Africa.

Interest rates are under control, and property is low compared to international standards. A spate of infrastructure projects are adding to boom, and office occupancy is running at 95%. London based IPD showed retail property returning 27% in 2006.

The 44m population has a middle class that has been growing at 30% a year. The demographic profile of the new property buyers have been put together by economists as middle income, car owning, university degree professionals now wanting to own their own property.

Companies are seeing potential and Euroscape completed a 180 apartment development in Cape Town. The Company is now developing a 5 star Taj hotel in the city centre.