World Cup no boost for South Africa real estate

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Every couple of years, one of the world's most interesting cities gets to throw a great party, either because of the Olympics or another global sporting event. For the first time ever, a venue in Africa was made host of one of the world's great athletic contests, the World Cup for soccer, or as they say everywhere else but in the United States: the World Cup for football. The host city is actually a country, South Africa, and I visited there in the spring to try to gauge the impact of such an event on the local residential market just as everyone was putting the finishing touches on stadiums, signage and roadways. Although the World Cup finals would be held in Johannesburg, I focused on Cape Town because it is generally considered one of the prettiest cities in the world, the safest large city in South Africa, and the place moneyed immigrants and second-home buyers from the West usually settle down. I checked in with Julian Reynolds, who two years ago had acquired one of...