World Cup host scores with property investors

Recent market volatility and the strength of the Euro has encouraged some Brits to look further a field to invest in property outside the traditional Eurozone markets. According to foreign currency specialists FC Exchange, hot spots such as Spain, Portugal and France are facing a challenge from the 2010 Football World Cup host country South Africa, which is fast becoming a hot favourite amongst Brits.

Nick Fullerton, MD of FC Exchange commented, “While the Euro is strong, Brits are looking further beyond the Eurozone to get more for their money. We have seen interest increase by over 20% in the past six months from people who intend to buy in South Africa, and Cape Town is currently the most popular destination for Brits buying there.

“Our clients are saying that now is a good time to invest in property in South Africa for the long term and we believe that the 2010 World Cup, combined with property prices that offer good value for money and increased direct flights from the UK, has fuelled this increased interest in South Africa."

FC Exchange is confident that this interest in South Africa will continue and has opened a new office this week to enable people to speak directly to a currency specialist about their buying or selling requirements. Based in Cape Town, the new office will offer tips on how to get the most out of your money when purchasing property in South Africa, and converting Sterling into Rand.

“Over recent months house prices in South Africa have seen falls but it demonstrates that people are being more sophisticated with their investment strategies and looking for a return in the longer term as the UK property market stalls. Countries that host major sporting events often experience buoyant property markets in the immediate run-up and after these events. Also rental yields close to stadiums and training camps can increase dramatically during the competition as the demand for temporary accommodation grows.

“Remember currency markets can rise or fall very quickly leaving you feeling the pinch if aren’t prepared for it. There are however ways you can guarantee the price of the property you’re interested in buying remains stable, and our currency broker specialists in Cape Town will help you to get the most out of your money”, added Fullerton.

For more information, visit fcexchange.co.uk.