I wrote this article for a Dubliner who was asking why the Irish may invest in the South African property market, I hope you enjoy it. It makes me so happy to live in Cape Town, South Africa.
“I note with interest that the IPAV’s National Conference is due to be held on Saturday 11 June 2016, and that the guest speaker is none other than Paul O’ Connell, international rugby legend and world-respected captain. On that very same day in Newlands, Cape Town, South Africa, Ireland are playing against the Springboks, which can only be a fantastic game, viewed by millions all around the world. It immediately makes one think of the synergy between the two countries and the enormous potential to cross invest.
Commodity prices appear to have bottomed out in South Africa and market perception indicates that there will be a recovery. In addition to this, recent Constitutional Court rulings bode well in the fight against corruption, increase in goodwill and could well inspire investment in South Africa. In fact now is the best time to invest in Cape Town, with its buoyant property market.
It is in times such as these, that many wealthy South Africans are asking where they should be investing their Rands. Many simply buy foreign currencies, however these investments are not always ideal for those not only wanting to preserve their wealth, but grow it. For these individuals, offshore property is often a good investment.
What is it that we South Africans have in common with the Irish?
A propensity for welcoming people, a good pint at the local, great value food, golf courses that bring tears to the eyes, beautiful coastlines, a coffee culture, craft beer and micro breweries and, plenty of entrepreneurial pop ups, rugby, beautiful whiskey. South Africa boasts beautiful weather and Cape Town in particular is not to be missed between December and May; even June offers spectacular bright sunny, calm days.
Allow me to take you back to Newlands, a small suburb in Cape Town, at the foot of Table Mountain, a world heritage site. It is purported to be the wettest suburb in South Africa and is flanked by the Newlands Forest. It is the original home of the Ohlsson’s Cape Brewery, the only relic of that being the large water wheel at Josephine Mill which has been declared a National South African Monument. Fresh spring water, which rushes off the mountain, is available for the community and the beer is credited as being superior because of it. Forrester’s Arms (1852) is the local watering hole, along with the well-known Barrister’s and many others line the pavements of this little gem. Homes are smaller and often the perfect lock up and go for any investor. Just along the highway Constantia nestles snugly along an aspect of Table Mountain and houses the best-known wine farms in the country and also the oldest working winery, Groot Constantia (1685). The large Cape Dutch architectural style buildings remind one of the grandeur of the settlers in the 1600’s. Homes are gracious and gardens rolling in Constantia. If it is a sea view you desire, you could find yourself in one of the beautiful coastal towns of Kalk Bay and St James (East Coast), where the sun rises a little earlier in the morning, and fishing boats can be viewed coming in daily with their catches. Coffee shops, restaurants, bookstores, theatre, art, pour out onto the pavements. The Atlantic Seaboard (West Coast) on the other hand has a whole different appeal. Meandering from the Mouille Point lighthouse (1824), first lit on the 12 April, to guide the ships into the Cape Town harbour, through Green Point, Seapoint, Bantry Bay, the world renowned Clifton strip of restaurants and beautiful white sandy beaches lined with palm trees, Camps Bay and then through Bakoven, this drive up the coast rivals any scenic coastal drive in the world. The road winds up to Llundudno, a most beautiful beach enclave suburb and then down into Hout Bay. The Cape Town CBD has and is undergoing an exciting transformation. Loft apartments are being refurbished and converted, developers are flocking in for new builds, high-end restaurants, with world renown chefs have opened, O Driscoll’s, one of the cities oldest favourites, continues to be a heartbeat for the locals.
The Cape Winelands stretch from the rugged Table Mountain and multi-directional slopes of the coastal region to the open planes of the Klein Karoo. Most of the vineyards are in the Western Cape are near the coast. Currently around 99 463 hectares of vine producing grapes are under cultivation in the area, some 800km in length. The most magnificent properties line the rivers and countryside.
From Cape Town to Castleknock Golf and Country Hotel for your National Conference, we implore you to take a look at your investment opportunities here with your very strong currency. Whether it is an apartment on the Atlantic Seaboard, a gentlemen’s residence in suburbia, a cottage in the village, or a wine farm, CAPE TOWN is undoubtedly your oyster. May the better team win on Saturday 11 June 2016!”