I am perhaps coming to SA in October at least for one year to the Wits University in Johannesburg. My salary will be R120 000 per annum tax free. I have no idea if this is low or not, can I live in a nice secure place with my wife with this money?
It depends on what ur iddea of nice place is..
If u want to buy - u will need finance unless u have some capital. small houses could range from R500 000(in new developments) to R1M.
interest rate is about 12%.
So if u do the math - 10% is required for downpayment and 0.7-1% cud be ur monthle repayment.. just to give u an idea.
Else u cud rent which is about the same price as the monthly repayment.
Food is not as expensive here but cars are..
clothing is about average-depending on where u buy..
R120000 is not a bad salary after tax though.
