south africa to join bric as profile grows
News Posted On: 05 January 2011
South Africa is becoming a major emerging market and as such, has been asked to join the BRIC group of markets that include Brazil, Russian, India, and China. Maite Nkoana-Mashabane, Minister of International Relations and Co-operation, this invitation means that South Africa’s future global power will be significant, as well as cause the nation to be a more established investable country.
Nkoana-Mashabane added that joining BRIC will assist South Africa emerge from its present second tier status to a first tier emerging market. It is predicted that the economy will grow even stronger and display stability in 2011, attracting a good number of investors and developers.
Last year, in 2010, South Africa experienced an increase from investors locally and globally, as the property market was favorable for investments. As reported by the Sage Property Report the median property prices grew 7.3 percent in July and 8.3 percent in August. Confidence among investors is growing as the predicted rise in 2011 is 6 percent.
Developers and investors see the potential of significant return on their investments and have taken advantage of key areas that are considered prime destinations. Location is very important when making an investment and there are some areas that are more valuable than others.
South Africa’s joining BRIC will only strengthen the country and attract more investors. With affordable prices, a sought after climate, beautiful landscape, as well as the market strong and growing, South Africa will surely see a surge of local and foreign investments in 2011
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