The prolonged period of high interest rates has had a noticeable negative impact on the South African economy and property market. It is clear that the time for interest rate relief has arrived, and the Reserve Bank has the opportunity to ease this pressure for the benefit of consumers and the econo
The 2024 South African general elections have set a new record with 27.79 million registered voters, the highest since the dawn of democracy in 1994 . As the country navigates the aftermath of these elections, significant implications for the real estate market are emerging, particularly in urbanisation trends, demographic shifts, and political stability. Here’s how these factors are influencing the real estate landscape, especially in key regions like Gauteng, KwaZulu-Natal, and Cape Town.
The South African Reserve Bank’s (SARB’s) Monetary Policy Committee has voted to hold rates for the eighth consecutive time, keeping them at 15-year highs.The repo rate remains at 8.25%, with the prime lending rate at 11.75%, the highest since 2009, in effect since May 2023. This decision aligns with market expectations, as most economists anticipated a hold. It is expected that the SARB will not cut interest rates ahead of the US Federal Reserve.
In a notable shift within the South African real estate market, the Eastern Cape has emerged as the new hotspot for holiday home purchases, surpassing the traditionally popular Western Cape. This trend is largely driven by an influx of foreign buyers in the Western Cape, which has led to a significant increase in property prices and a decrease in the availability of homes in the region.
The Free State is rapidly emerging as a haven for first-time homebuyers, thanks to its affordability and appealing market conditions. In this province, the average purchase price for first-time buyers remains below R1 million, making it an attractive option for young and new buyers looking to enter the property market.
Interest rates play a crucial role in the world of real estate, affecting everything from your monthly bond payments to the overall affordability of a home. But what exactly are interest rates, and how are they determined?
When it comes to buying a home, understanding how interest rates affect your mortgage is crucial. Even a small shift in rates can have a significant impact on your monthly payments and the overall cost of your home.
The real estate landscape is evolving, and young buyers are making significant strides. In our latest series, “Young Buyers, Big Moves,” we explore the trends, challenges, and success stories of young property investors in the market.
Interest rates play a critical role in the affordability of your home loan, directly influencing the monthly mortgage payments and the overall cost of your property.
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