@apostolic1 I think there is too many questions to give a real answer here.
Was the property jointly owned or individually? When considering taxes and if its investing a million as one person 500k x 2 for example. How was the proceeds split from the property and who owns what portion?
In terms of good growth and keeping value, you can't have both without assuming risk/volatility during the time frame. You also want to get dividends - why is this, is there a need for this money and/or have a regular withdrawal from it?
If we ignore the withdrawal part. To keep it simple, for the least amount of risk (capital preservation) it would be just interest bearing investments. Although note that interest exemption here is only R23,800 under 65 and R34,500 over 65. So interest over and above this annually threshold will form part of your taxable income. How much tax is depended on how its invested e.g. via two people or one and then income tax rate.
Here is a compare for 3 years fixed deposits and current rates and
RSA Retail Bonds.
Another option is to have some sort of split and include a portion of exposure to more growth assets like equity in a diversified portfolio e.g. 10% - 20% equity exposure. Read up on Multi Asset low equity class. Note this will have volatility and also fee's involved depending on which fund you invest in. This is a less simple option but can be more rewarding with the cost of more volatility and at the same time risk producing returns less than expected vs current fixed deposit options.
All in all, it depends on a few things e.g. who has the million, age, tax rates etc. The need of withdrawal/income from the money. Risk (preservation vs growth tilt)... But above should get you started on thinking and digging a bit.
