CONTENTS: INTRODUCTION, WHAT IS A HOTSPOT?, JOLLY HARBOUR, ANTIGUA - ST. JAMES, BARBADOS - GOLDEN SANDS, BULGARIA - DUBROVNIK, CROATIA - DUBAI, UAE - EL GOUNA, EGYPT - FORTALEZA, BRAZIL - ACCRA, GHANA - GOZO, MALTA - BUDAPEST, HUNGARY - KINSALE, COUNTY DONEGAL, IRELAND - LIMASSOL, CYPRUS - CANCUN, MEXICO - NATAL MIDLANDS, SOUTH AFRICA - NAXOS ISLAND, GREECE - MOUNT MAUNGANUI, LEIGH, NEW ZEALAND - NIMES, FRANCE - ORLANDO, FLORIDA - PANAMA CITY, COSTA BLANCA, PANAMA - KRAKOW, POLAND - LAGOS, REDONDO, PORTUGAL - MURCIA, SPAIN - UNAWATUNA, GALLE, SRI LANKA - PHUKET, PATTAYA, THAILAND - FETHIYE, TURKEY - ISOLA D’ELBA, TUSCANY - QUEENSLAND, ADELAIDE
| NATAL MIDLANDS, SOUTH AFRICA | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| C O U N T R Y
D A T A
| Population | 43.59 million persons | ||||||||||||||||||||||||||||||||||||||||||||||||||
| PopulationGrowth | 0.380 percent | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Land Area | 1,219,912 sq km | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Currency & exchange rate | 1 rand (R$) = 100 cents (~ 0.0866 GBP) | |||||||||||||||||||||||||||||||||||||||||||||||||||
| GDP-PPPMethod | 292,983.0 millions of US dollars | |||||||||||||||||||||||||||||||||||||||||||||||||||
| GDP Growth | 1.81 percent | |||||||||||||||||||||||||||||||||||||||||||||||||||
| GDP Per Head | 6,722.0 Thousands of US Dollars Per Person | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Financial | Interest Rate | Inflation Rate | ||||||||||||||||||||||||||||||||||||||||||||||||||
| 13.5% | 7.9% | |||||||||||||||||||||||||||||||||||||||||||||||||||
| National Bank | South African Reserve Bank | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Political | Under the terms of the new constitution, which was adopted on 8 May 1996 and entered into force on 4 February 1997, legislative power is vested in a bicameral parliament, comprising a National Assembly and a National Council of Provinces (formerly the Senate). The ANC alliance is the current ruling party with President Thabo Mbeki the leader. The Parliamentary and presidential elections of April 2004 were the third of its kind since the end of the Apartheid with the ANC taking 70% of the votes. The Democratic Alliance proved to be the biggest challengers to the ANC. | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Social Security | Yes (limited) | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Languages | Afrikaans, English, Ndebele, Pedi, Sotho, Swazi, Tsonga, Tswana, Venda, Xhosa, Zulu | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Customaries | Handshaking is the usual form of greeting. Normal courtesies should be shown when visiting someone’s home. Smoking is prohibited in public buildings and on public transport. Visitors should also bear in mind that in certain parts of the country strong racist attitudes still prevail. It is best not to get involved in political discussions. You should also remember not to photograph security institutions. | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Ethnic Make-up |
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| Tax | Income Tax | Capital Gains Tax | ||||||||||||||||||||||||||||||||||||||||||||||||||
| From 10/2001, capital gains were taxable in south Africa. This tax is imposed through the income tax system. | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Description | South Africa is the world’s largest producer of platinum, gold and chromium and its other major industries are automobile assembly, machinery, textile, iron & steel, chemicals, manufacturing, wholesale and communication. Its major trading partners are the US, UK, Germany and Japan. One of the biggest growers of economic output is the increase in tourism. The diversified economy is largely based on the abundance of minerals as stated above. The main exports from mining are gold and diamond. Foreign investment is attracted by the excellent transport network, solid infrastructure and power networks. Since the mid 90’s the Government has since designed a scheme under which major economic assets – notably the mines – will be transferred to ‘black empowerment entities’ over a 10-year period. Since 1998, South Africa has reversed poor growth rates and has embarked on a period of sustained growth with low to moderate inflation, a manageable debt burden and a robust growth in exports. The economy recovered quickly after being knocked off track in the first half of 2002 due to currency speculation and a global loss of confidence in emerging markets. The economy is currently somewhat sluggish but expected to pick up in 2004. However, social and equity problems remain and crime is still unacceptably high. Perhaps the greatest long-term problem, especially as regards its impact on the workforce, is the very high level of HIV/AIDS infection in the country. | |||||||||||||||||||||||||||||||||||||||||||||||||||
| L O C A L
D A T A
| Investor Profile: | Cash & Equity Investor Pension Investor Holiday Investor Retirement Investor Downshifter Investor Business Investor | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Category: | Gold | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Population:
| Total | British | ||||||||||||||||||||||||||||||||||||||||||||||||||
| 400,000 | ~300 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Climate: | Hours of Sunshine Per Day in Summer | Days of Rain Per Year | January | July | Average Water Temp. | |||||||||||||||||||||||||||||||||||||||||||||||
| Seven | 22 | 28C | 23C | 22C | ||||||||||||||||||||||||||||||||||||||||||||||||
| Proximity to: | Airport | Beach | Nearest City | |||||||||||||||||||||||||||||||||||||||||||||||||
| Durban Louis Botha International airport is 2 hours drive | Warner beach, Tongaat Beach | Durban | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Restaurants and bars: | Many coffee shops, tea gardens, country pubs, restaurants, wine cellars and breweries are among the eating and drinking refreshment opportunities on the Meander. From cosy fireside corners in pubs that make their own beers and serve hot, delicious food, to snug coffee shops serving the freshest in tortes, cakes and sticky puddings - the wealth of choice is very good. | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Sports and leisure facilities: | Trout fishing, golf, eco-tourism activities, hill walking, game viewing and birding, Fishing, wing shooting, horse riding and polo are also popular. Natal coast is also renowned for its excellent diving and sport fishing facilities | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Transport: | Public Transport | Roads | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Healthy public transport available. A good bus network means you can easily get to other towns, farms and beaches. | Most roads are paved and good. And the unpaved roads are also good to drive. Easy access to other towns and Durban. | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Crime rate: | Low | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Main types of employment | Predominantly farming, catering and services | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Future plans: | In recent years the popularity of the Midlands Meander has created an increased demand for properties suitable for use by artists and crafters or for conversion to country restaurants, guesthouses or wedding and conference venues. The high concentration of excellent private schools in the area has also motivated many parents to invest in property in the Midlands. Despite an average 20 percent increase in the price of good homes in the area over the past year, and a more negative view of property investment because of the higher interest rates, demand is still strong - and being helped by an increasing number of foreign visitors, mainly from the UK, Germany and Norway. | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Yield range | 16 – 20% | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Type of property | Entry Price | Rent- Peak | Rent- Off Peak | Average Annual Yield | ||||||||||||||||||||||||||||||||||||||||||||||||
| 2 bed apartment | £12,000 | £200 | £200 | 20% | ||||||||||||||||||||||||||||||||||||||||||||||||
| 3 bed apartment | £15,000 | £210 | £210 | 16.8% | ||||||||||||||||||||||||||||||||||||||||||||||||
| 3 bed townhouse | £17,000 | £280 | £280 | 19.7% | ||||||||||||||||||||||||||||||||||||||||||||||||
| Detached | £19,000 | £290 | £290 | 18.3% | ||||||||||||||||||||||||||||||||||||||||||||||||
| Demand for letting | Peak | Off peak | ||||||||||||||||||||||||||||||||||||||||||||||||||
| High | High | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Finance and leisure scores: | Total (out of 10) | Financial (out of 5) | Leisure (out of 5) | |||||||||||||||||||||||||||||||||||||||||||||||||
| 9 | 5 | 4 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Flights scheduled from: | London Airports, Manchester, Birmingham, Cardiff, Edinburgh and some other major cities | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Typical cost of flights: | Peak | Off Peak | ||||||||||||||||||||||||||||||||||||||||||||||||||
| 600 – 1000 GBP | 400 – 600 GBP | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Operators: | Air France, KLM, Swiss, South African Airways. | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Description: | Rising in the south towards the majestic Drakensberg range, this unspoilt upland area of hills, woods, lakes and streams is very reminiscent of the Scottish Highlands. It is recognised as one of the most beautiful, peaceful and secure areas of Southern Africa with the rolling hills of Natal perfectly complementing the tropical coastline with its lush vegetation, warm ocean and almost year round sunshine. I recommend to buy these properties for cash, wait for the interest rates to fall to a sensible level, watch the capital value grow and then SELL! The only way is up when you look at the entry prices. Something has to seriously go wrong for you to lose money in this area. As the political stability increases so does your capital! This will be the catalyst that will cause prices to rocket – get in early. | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Hot Website: | www.midlandstourism.co.za/ | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Estate Agents: | Name | Address | Tel | Web | ||||||||||||||||||||||||||||||||||||||||||||||||
| Denton-miller estates | PO Box 603, Howick 3290 | (033) 330 7304 | denton.miller@mweb.co.za http://natal-country-estates.co.za | |||||||||||||||||||||||||||||||||||||||||||||||||
| Peta Parker Properties | 033-7011341/ 2 | www.ppproperties.co.za | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Acutts | Pat Acutt | 460 RIDGE ROAD, 4001 P O BOX 50093, DURBAN, 4062 | 031 2098111 | http://www.acutts.co.za/ | ||||||||||||||||||||||||||||||||||||||||||||||||
| Remax Midlands real estate | P. O. Box 1182, Pietermaritzburg 3200, South Africa | 033-345 8256 | www.remaxmidlands.co.za | |||||||||||||||||||||||||||||||||||||||||||||||||
| Letting Agents: | Name | Address | Tel | Web | ||||||||||||||||||||||||||||||||||||||||||||||||
| Remax Midlands real estate | P. O. Box 1182, Pietermaritzburg 3200, South Africa | 033-345 8256 | www.remaxmidlands.co.za | |||||||||||||||||||||||||||||||||||||||||||||||||
| Denton-miller estates | PO Box 603, Howick 3290 | (033) 330 7304 | denton.miller@mweb.co.za http://natal-country-estates.co.za | |||||||||||||||||||||||||||||||||||||||||||||||||