Cape Town - Only about 3% of all property in South Africa is foreign owned and, at best, 2% of all annual purchases are done by foreigners, according to Seeff chair Samuel Seeff.
"The reason for wanting to restrict ownership and who this is meant to benefit is then rather difficult to gauge," said Seeff.
"It seems to just be that time of year again when the land debate regrettably turns to foreign property ownership and, rather than advance a solution to the land issue, it sends the wrong message to investors and puts undue pressure on the property market."