Global online real estate investment marketplace, Wealth Migrate, has entered the South African property market through an online investment platform.
Wealth Migrate offers international investors direct access to real estate investment opportunities in global markets, including the US, Australia, UK and now SA.
The company was founded in 2010 by two South African fintech and real estate investors, Scott Picken and Hennie Bezuidenhoudt, and has representative offices in Cape Town and Centurion.
The group is listed at number 42 on the 2016 KPMG Top 50 Global FinTech Companies, and has now extended its footprint to include SA ? having determined the market is primed for economic growth.
"This is the first time that both local and global investors can invest in a premium South African destination with our new development in Cape Town," says chief digital officer Jay Thomson.
"Billions of dollars have been invested in real estate through the new use of technology in the USA, UK and other leading markets in the last three years. Now these same benefits and opportunities are finally available to South Africans in their own market. Being born in Durban, I am so excited to finally be able to bring these benefits of technology to my fellow countrymen," says Wealth Migrate founder and CEO, Picken.
For its South African launch, Wealth Migrate decided on Cape Town's City Bowl - which it considers the Mother City's blue-chip property sector.
Zero-2-One is earmarked as the first property on the new SA platform and will be the tallest building in the city when it is built. Comprising 42 storeys, the building will stand at over 148m tall and be a multi-use retail and residential lifestyle space, is set to become a key CBD destination, with 360-degree views of the city. Construction is scheduled to commence later this year and will be completed in 2020.
Wealth Migrate says in the past, the best real estate investment opportunities were only available to the richest 1% but thanks to disruptive technology, the market has now been opened up. The barrier to entry has also been lowered and the minimum investment for South Africans is R1 000.
"This is how global millionaires invest, preserve and grow their wealth; they are investing in global, multimillion-dollar real estate deals," Thomson adds.
"When technology disrupts an industry it does three things. It cuts out the middlemen, reduces costs and increases trust, transparency and accessibility. Think Uber, Airbnb, or Apple with music, etc. Now technology is doing the same thing to real estate investing," Picken concludes.
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