Fin24

Suze Orman buys Joburg home

2009-04-01 08:28

Johannesburg - The American personal finance guru Suze Orman has acquired a "home with a view" on the slopes of Northcliff.

This deal, clinched by Sotheby's International Realty SA, comprises an exceptionally luxurious apartment in The Cliffs, where units sell for R5m to R9m. For Orman this is easily affordable, as she earns about $80 000 per appearance - although exactly how much she paid for her unit is unknown.

In a statement she declared that she was buying the unit in Northcliff for the same reason she has invested in property markets in the US: location. She also owns an apartment in San Francisco, a unit in Fort Lauderdale and two in New York.

Johannesburg has long been regarded as a poor relation to Cape Town with its Atlantic seaboard, the playground of the world's wealthiest.

But this is now changing, explains Sotheby's chairperson Lew Geffen. He says that Johannesburg is becoming more attractive to the international business community as a platform for the profitable South African and African markets.

"Cape Town has natural beauty and splendour, but that is where the money goes on vacation. Johannesburg, on the other hand, has the business infrastructure and the contacts, and is thus where money lives and works."

International business people wanting to establish businesses in Africa will find Johannesburg the place to begin

- Sake24.com

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