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    Home»Investments»Why South Africans Are Turning to Zimbabwe – The Zimbabwe Mail
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    Why South Africans Are Turning to Zimbabwe – The Zimbabwe Mail

    March 23, 20254 Mins Read



    In an evolving real estate landscape, South Africans and expatriates have turned their eyes toward property markets beyond their borders, with a notable surge in interest in nations like Dubai, Mauritius, and Zimbabwe.

    According to the Seeff Property Group, this trend reflects a blend of economic opportunity, lifestyle choices, and potential returns that are captivating high-net-worth investors.

    The allure of Dubai

    Leading the charge is Dubai, a city that has become a melting pot of investment activity. Nombasa Mawela, licensee for Seeff Dubai, reports an unprecedented swell in property transactions over the last two years. In 2022 alone, transaction volumes increased by an astonishing 36%, while overall property values saw an impressive elevation by 20%.

    The short- and long-term rental markets in Dubai are thriving, attracting both local and international investors keen on capitalising on the booming demand. Mawela notes that a significant number of South African expats are already established in Dubai, with many more coming from other African nations, such as Nigeria, eager to explore lucrative opportunities. Most investments are being targeted in the AED 1 million to AED 3 million bracket (approximately R4 million to R12 million), focusing primarily on apartments and townhouses that promise high rental yields of up to 8% in popular locales like Dubai Marina and Downtown Dubai.

    The city’s Golden Visa programme, which stipulates a minimum property investment of AED 2 million (approximately R9.8 million), has emerged as a compelling incentive for investors looking for stability and a high-quality lifestyle. The advantages of living in Dubai include tax benefits, ease of doing business, and accessible financial services for property investment.

    Mauritius: a tropical haven

    Across the Indian Ocean, Mauritius is witnessing a rising tide of South African property seekers. Severine Dalais-Pietersen, licensee for Seeff Mauritius, highlights that both families and retirees are increasingly considering the island for both personal use and as investment opportunities. The demand for holiday properties has surged, with many buyers gravitating toward apartments linked to upscale hotel chains or seeking second homes for holiday enjoyment.

    Most South Africans invest in properties ranging from USD 375,000 to USD 600,000 (approximately R6.9 million to R12 million), which also qualifies them for permanent residency. The rental market in Mauritius also presents appealing opportunities, with long-term villa rentals generating monthly incomes upwards of MUR 130,000 (around R65,000). Additionally, luxury properties can offer competitive rental yields between 3% and 6% depending on location and market conditions.

    Factors that enhance Mauritius’s appeal include its political stability, safety, and lifestyle akin to that of South African residents. The proximity of Mauritius, only a six-hour flight away, along with a favourable tax regime, further solidifies its status as an attractive offshore investment destination.

    Returning to roots in Zimbabwe

    House prices in Harare’s northern suburbs range from USD 300,000 to USD 1 million (around R5.5 million to R18 million), with more affordable options in the eastern and western suburbs, starting at USD 60,000 (approximately R1.1 million). The rental market is also robust, with modern apartments commanding between USD 1,000 and USD 4,000 (R18,100 to R72,000) monthly.

    Seeff has recognised the growing profile of expatriate landlords in Zimbabwe and has introduced property management services to cater for these investments. This trend towards property ownership among diasporas represents a significant shift in the real estate market, promising promising outcomes for investors.

    In summary, as South Africans and expats seek new horizons in real estate investment, markets in Dubai, Mauritius, and Zimbabwe present an array of opportunities, driven by robust rental yields, attractive lifestyles, and promising economic environments. The appeal of investing in properties across borders continues to grow as investors explore the potential benefits beyond their immediate surroundings.

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