LOOKING FOR PLAN B
When foreign shores beckon, South Africans can get a very respectable bang for their buck, plus residency, in Spain, Portugal, Cyprus, Malta, and Mauritius, among others. But how does one choose? One thing is certain — it can’t be an emotional decision. If you’re after residency or citizenship in exchange for property investment, working out the pros and cons of each attractive destination can be daunting. To help buyers decide, Henley & Partners has developed a new analytical tool in partnership with Deep Knowledge Analytics, called the Best Investment Migration Real Estate Index. Potential investors can use this tool to analyse the reputation of and quality of life in the host country, GDP, the minimum property investment amount, potential rental income, associated property costs, application-processing efficiency, residency requirements, restrictions, saleability, and crypto-friendliness.
FOLLOW THE SUN
Dubai tops the index’s rankings, scoring well for rental-income potential and lower price of property per square metre compared to other major international centres. Some fans also say the desert city has attracted loads of expats who appreciate its speedy modernisation that hasn’t compromised culture. Spain, Montenegro, and Turkey are listed next, with Portugal, Thailand, and Greece firm favourites for lifestyle. In Montenegro, property investors can choose between glamorous coastal resorts and new establishments servicing increasingly popular mountain and ski areas in the north. A lot of research is needed if you want to make the right decision for you and your family. After all, a second passport could be the best legacy you leave them. Even though Portugal and Spain, for example, appear similar at face value you’ll discover more differences the deeper you dig.
Mauritius is in with a shout at 14th place on the index, appealing to South Africans in particular who want a better life in a safe, secure, well-governed regime, close to home. You can buy your dream home here for $375 000 and get permanent residency for three generations of family members. Property costs, fees, and duties are low and there is no capital gains tax. And when it comes down to it, the beach lifestyle gets my vote every time.
• From the March edition of Wanted, 2022.