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The country of South Africa provides a simple process for the residents and even non-residents to own a property; however it is always wise to know about the costs, conditions and rights, and for that matter this article will focus on the opportunity for non-residents to consider buying property in South Africa.

Real estate is without restrictions and non-residents can own property and get a mortgage. All foreign funds used for purchase of property must be declared however and documented. However, loans through South African financial institutions to legal aliens normally cover only 50% of the purchase price.

Although the Southern African market is dominated by a few property agents, you can search for real estate via the internet. Upon finding properties that are interesting to you, you can search property records at no cost with the Registrar of Deeds.

Property transaction fees usually include ten to twenty percent deposit plus attorney’s fees and registration fees. And the process, including verification of your identification documents and settlement of government duties, takes between six to eight weeks. Read the rest of this entry »