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World Cup 2010 Mania Strikes South African Property Investors - 18 June 2010

With the World Cup playing on television sets across the globe, its beautiful South African backdrop is sure to capture a new audience of investors to the republic, say real estate experts.

While housing prices had dropped over the last year due to a previous inflation, the football tournament is expected to kick start the economy—with a growth rate of 9 percent this year—and residential prices should also increase. South Africa’s gross domestic product is also predicted to see gains—about £1.5 billion—as a direct result of the 350,000 football fans traveling to the city.

To prepare for the colossal event—the first World Cup to be held in Africa—the South African government poured more than £2.5 million into infrastructure improvements, including a new airport at Durban and a high-speed train from the Johannesburg airport to the center of the city.

While the World Cup takes place in various regions across South Africa, real estate experts are predicting that Cape Town will likely be the most popular spot for investment, as its traditionally the safest and most well-known region. Also, the Western Cape may prove a favourite as many of the games are being held there.

As the tournament, which began on June 11 and ends on July 11, plays on, South African real estate agents are planning to field a lot more requests to tour holiday properties.

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