Although only two industries have reported growth in their sectors over the past year in South Africa, namely property and financial services, how do you feel about buying property as an investment in the current South African economic climate? It may be a good idea to look more long term, and to decide whether or not SA is going to be able to claw its way back to positive economic growth in the near future, or perhaps it’s time to invest internationally. The good news for those who are investing in the UK with a view to re-locate there, is that the housing sector has reached a 17 month high in granting mortgages to buyers.

The rise in mortgage approvals has increased by 29% from four years earlier, which is a clear indication that the housing and property sector is strengthening in the UK. This is great news for those who wish to purchase a home there. “Savvy homeowners are snapping up competitive deals before an expected increase in interest rates,” said Richard Woolhouse, chief economist at the BBA. (Reuters)

Although in South Africa, the property market is on the increase as well, there are a number of other factors one needs to consider about the struggling SA economy when deciding to invest as heavily, as buying a home sometimes requires.

If you have an interest in investing or creating a UK based business with the hope of relocating, now is a great time to invest in property before the prices soar even further. The banks are more comfortable with lending, the economy is gaining growth and there are a multitude of opportunities for new businesses in the UK.

The advantage of operating a business in the UK is that you will earn pounds, meaning that should a house or other property be on the cards, you won’t have to use your weakening Rand to fund it. Earning Pounds and spending Pounds makes much more sense than the alternative. So if the UK is on the cards for your future, get that business started, today!