Cost of Life

• 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?

  25 Aug 2006, 03:07 Anonymous

Replies

• probably..

  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.

  mark 22 Sep 2007, 10:33 - Report