The Property is within the secure Crescentwood Country Estate Midrand, Johannesburg:
- Cost: R1 650 000 ( Market value: R2 500 000) = equivalent £ 110 000 / € 150 000
- 'French Style' 3 bedroom, 2 bathroom (main bedroom is en-suite with walk-in Wardrobe)
- 'Provencal Gourmet' Styled Kitchen with entertainment lapa leading to pergola covered patio.
- Authentic French Styled shutters with under-floor heating throughout the property.
- Exquisite ' French Garden ' with computerized irrigation system & Swimming Pool.
- Water Feature at entrance and amenities within the Estate Club House.
Now that we have looked at the Facts, let's look at how the Numbers add up:
Mortgage (10% deposit - R165,000 to secure Property) = R 1 485 000
Mortgage Payment per month = R 16 697 (12.5% interest rate over 20 years)
Rental Potential (as ascertained by Estate Agent) = R12500 - R15 000
Let us assume an average of R13 750 as Rent per month (average of R12 500 & R15 000)
Therefore, Mortgage Payment subtract Rent = Shortfall per month.
R16 697 - R13 750 = R2 947 (equivalent £ 245 / € 290 per month) !!!
At just R2 947 (£ 245 / € 290) shortfall per month (NOTE: At an Average Rental Assumption) we are looking at an Incredible Investment combined with unrivaled luxury of a 'French Townhouse'.
This Investment will expire at the beginning of December 2007 and therefore it is imperative that Investors inform us of their interest to buy, so that we can arrange a viewing.
If you have any queries or require more information, please let us know.
4 comments:
You are 100% correct and I think that alot of Europeans are missing out on investment opportunities in South Africa.
If you don't mind me putting this site up just go take a look or yourself on http://www.myroof.co.za/ this will give you an indication of the price of houses remembering that the Euro is 10 to 1 to the Rand.
Overseas or foreigners buying in South Africa who are not South African citizens or not residing in South Africa though can only get 50% mortgages. So you do need a 50% deposit.
If you'd like more information on home loans and mortgages in SOuth Africa i suggest contact Wizard Midrand @ http://www.wizardmidrand.com/
Nice BLOG. Good Info.
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