Radostina Markova, market research expert at Cushman &Wakefield Forton tells us why Johannesburg stock exchange listed companies are increasingly interested in Central and Eastern European real estate.
With a vast network of national parks South Africa is a popular safari destination, drawing tourists from all over the world. This is a vital thread of the local economy, offering thousands of jobs, ensuring more stable employment and growth rates.
But unlike tourists, investors in real estate see South Africa not so much as a destination, but a starting point. Slow economic growth, expensive financing and decreasing profitability are pushing many to seek alternatives abroad, often beyond the African continent. So it is unsurprising that companies like NEPI Rockcastle, Hyprop Investments, Prime Kapital, Rockcastle Global Real Estate, Tower Property Fund and others have been among the most active buyers of real estate in Central and Eastern Europe for the past few years.