There are few events in existence that have the ability to make or break a property market by themselves, but the World Cup of Football is definitely one of those events. In 2010, that World Cup is coming to South Africa.
There are already many people that have invested in the South African property market with an eye towards the World Cup in 2010, but now that type of investing is expected to begin in earnest as property developers start their work in the country and investment advisors all over the world advise their property investment clients to get a chunk of the property market in South Africa while the prices are still low.
In fact, according to Evelyne Njoroge of Capital News, many of the people that had money pulled out of the Kenyan property market recently are reinvesting that money into the South African property market. This includes both domestic Kenyan nationals as well as overseas property investors that cut and ran in the face of property-damaging violence going on in Kenya.
The combination of reinvestment and the world cup sighted on the horizon is sure to cause property values in South Africa to increase a significant amount.
However, another thing this increased demand has done is served to transform many residential areas in South Africa into cosmopolitan areas that are much more in keeping with a modern view of the world. A good example of this is the suburb of Mondeor in the South African city of Johannesburg.
This cosmopolitan outlook also implies a long term investment by the people that own property in the area and with more money pouring into different areas all over the country, one can expect residential areas like Mondeor to spring up all over the country in the next two years.
These areas, indicative of a new South African look that is more modern and up to date, will survive the 2010 world cup downturn quite nicely and also point to many of the investments being secure long term investments and that should make many property investors rest easier.
