In recent years, South Africa has been weathering not only concerns about political corruption but also currency devaluation and a rocky economy. And those difficulties have adversely affected local residential real estate markets, particularly in the last 18 months, said Rupert Finnemore, the regional head of Pam Golding Properties in Gauteng.
“Home prices are very undervalued” in Johannesburg, said Ronald Ennik, the principal of Ennik Estates, an affiliate of Christie’s International Real Estate. “It’s the cheapest it’s been in 20 years.”
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