The top end luxury property market has seen a significant price slump during the onset of the COVID-19 pandemic. This is partly due to foreign buying power effectively being locked out of the country due to numerous global travels bans and restrictions imposed by global governments on foreigners to travel in and out of South Africa.
This in turn has stalled the movement of top end property stock in South Africa. It is our view that once international travel picks up towards the end of 2021 and the first quarter of 2022, house prices in South Africa, will sharply increase as demand starts escalating at pace. This provides a great opportunity for foreigners to pick up luxury & sought-after property in South Africa at bargain prices in the coming months ahead of the anticipated upswing in demand!
Although Domisa Treasury is not directly involved with the ownership transfer of property we are well positioned to assist foreigners to move their funds painlessly in and out of South Africa on the purchase or sale of South African properties. Domisa Treasury takes the headache and friction out of the process for clients and we ensure that the flow of funds comply with South African exchange control regulations. We also ensure the ZAR deposit and full purchase amount is settled to the transfer attorneys on time.
Not only do we take care of all the paperwork (FICA, BOP forms, dealing with local banks etc), we also offer the best foreign exchange rates & exceptional client service.
We welcome all foreigners who are purchasing or selling South African property, to contact us for a no obligation consultation. We buy and sell USD, GBP, EUR, CHF, AUD and all other major currencies. Domisa Treasury prides itself in giving the best client service at industry beating exchange rates.
We also invite clients to use our Live Pricing tool available on our home page www.domisa.co.za to calculate live foreign exchange prices.
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