Country: South Africa
30 June 2009
Sepp Blatter, President of FIFA, football’s world governing body, fears that there could be a shortage of South Africa properties to accommodate the 450,000 overseas nationals expected to visit the country in June 2010 for the Football World Cup.
Jaime Byrom, the executive chairman of MATCH, the firm responsible for sourcing accommodation for FIFA VIPs, estimates that at least 55 000 residential properties in South Africa will be required to house those people attending the football tournament next year.
However, it is feared that this target will not be met. Consequently, MATCH is now expected to turn to the private housing sector to help overcome the housing shortage. This naturally presents short-term buy-to-let opportunities for those who own property in South Africa.
Emarie Campbell, general manager at Seeff Properties told Realestateweb.co.za that the rentals being achieved are expected to be in the range off 30% to 40% higher than normal rentals achieved for prime seasons over the Christmas period.
See Also: Marc Da-Silva, South Africa
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