I agree with all you guys have had to say. I just hold Redefine rather than Emira, no real difference. The point I was trying to make was that regarding physical property the returns are only made when you sell if you bought cheap enough & that the running costs are at times exhorbitant & can erode any retrurns. I am a firm believer though in physical property as part of a wealth protector. eg I bought a share in a cash generating business recently, now I use the cash from that investment to pay the mortgage & all running costs on my newly acquired holiday home in Onrus. So I leverage a R300k investment into a R1.2m home. The trick is that I only paid R700k for the house as it was a distressed sale. So my feeling is that had I taken the cash & bought shares I might over a 10 - 15yr period arrive at a equal real return, but I have had the enjoyment of living near the beach, sporadic holiday rentals & a 40% capital growth NOW - over that time period. Thatsw why I say that apart from one's primary residence, physical property should form part of a balanced portfolio. Hassels with tennants, easy exit etc are just small reasons NOT to do it. Owning fixed property teaches one a whole raft of new skills - leases, tennants, municipalities etc etc. LOL