Property Wire, an international property news service, reported that foreign property investors are more and more interested in buying property in South Africa because of the weakening of the Rand and the stable growth of rates.

Europeans buyers are among the ones that are looking to buy property in the Western Cape, along the Garden Route and close to venues that will host the 2010 World Cup Soccer. Also contributing to the increasing interest is the favourable exchange rate between the Rand and the Euro.

Real estate companies like Sotheby’s International Realty in South Africa and Pam Golding Properties report that they have already detected an increase in enquiries from international buyers. It is assumed that it is a direct result of the depreciating Rand.