2010 World Cup Property
The hosting of a major sporting event like the 2010 Soccer World Cup will be a massive boost to the South African economy with inflows of about R 30 billion of investments into the country. South Africa is experiencing economic growth of between 4 and 5%, with interest rates at a twenty five year low, creating an estimated 200 000 new jobs. The positive impact on the South African property market is enormous.
The county is enjoying a strong currency, high commodity prices with consumer confidence at a all time high. International investors, locals and expatriates are all major buyers. 2010 Soccer World Cup is a good platform to market property aggressively in South Africa and abroad, local ,property is still much undervalued and offers great value for money in global terms.
The 2010 world cup football is likely to be a major boost to South African property . Property prices escalated by as much as 60% during the year before and after the Word Cup was hosted by France in 2002. Property in Paris made astronomical gains with the some apartments close to the stadiums climbing by over 110%.
Even neglected neighborhoods around Paris were completely renewed. A similar thing will happen in South Africa, because although we have had a good run, in global terms the , property is still very undervalued with the economy looking favorable.
Hosting an major tournament like the Olympic Games or the 2010 World Cup soccer encourages urban regeneration and is usually accompanied by an improvement in facilities, transport links and overall infrastructure. A huge amount of work still needs to be done to market South Africa as a holiday destination and a place to see the event.
The Spanish have managed to sell 60 000 United Kingdom citizens homes because they sell a lifestyle. This has translated into massive job creation and social up-liftmint through increased tourism and a very favorable perception. South Africa could increase the amount of visitors by millions a year to get close to the number of people who visit Spain each year.
When Australia hosted the Olympic Games in 2000, they pushed not just Sydney as a city but the whole of Australia as a desirable place to live and own property. There was a unified strategy between the government, the tourism board and the real estate industry.
South Africa needs to promote itself as a investment friendly and stable country, true spirit of South Africans as a highly desirable planned government expenditure aimed at local regeneration will give impetus to the host cities in creating a more suitable public infrastructure that would otherwise have taken years to complete due to red tape.
The R 20-billion Gautrain high-speed service between Johannesburg and Pretoria will be completed in time for the 2010 World Cup, creating a wealth corridor and increased property values across both cities. Coegaīs giant "signature bridge", the Statue of freedom in PE and Durbanīs new international airport at La Mercy. All of these projects will be fast-tracked into reality for the main event. Cape Towns N2 Gateway Project has been launched by the Housing Minister, Lindiwe Sisulu, to replace the tin and cardboard shacks along the highway and improve the quality of life for thousands of locals.
The 2010 World Cup Soccer will also have an effect on building costs. Many building contractors are holding out for money spinning 2010 World Cup contracts, creating a shortage. Stadiums must be built, renovated and expanded in time for this major event. Many stadiums are also being especially for the event like Nelspruitīs Mbombela at a cost of R 350 million, scheduled for completion in 2007.
The huge capital inflows and direct investment into the South African economy will keep growth rates above 4% and the rand stable, this new health of the economy will have the biggest overall positive effect on house prices for the next 5 years to come. Please come and join us at the 2010 World Cup Soccer.
