Four years on from the first lockdown, where and why we buy, and what we want from a home have changed. Bradd Bendall, CEO (interim) of BetterBond, takes a look at what the new normal might mean for the South African property market.
Over the last year, semigration, predominantly to the Western Cape,
has been the trend to watch. While Gauteng has earned one
negative news headline after the other, is the tide turning? If so, it could be partly due to South Africans coming home from abroad.
What does the stable repo rate mean for the property market? Industry leaders share the state of the property market, the implications for first-time buyers, look at how this impacts new mortgages, and which areas are still growing despite the economic pressures.
Semigration became the property buzzword of 2023, and the phenomenon shows no signs of slowing down. While remote working capabilities are certainly a driving force, municipal performance (or rather the lack thereof) is also increasingly touted as a key factor.
Many home buyers are seeking the tranquillity and seclusion that country towns or rural settings present. For agents guiding clients towards their dream homes in remote or small-town locations, there are several things to consider: from security, cost of living and infrastructure to lifestyle changes and plans.
Ten small towns have enjoyed excellent price growth over the last 5-10 years, benefiting from semigration and second home buyers.
While the repo rate is stable, for now, it is unlikely to decrease until 2024, the local economy remains under pressure, especially from continued loadshedding, experts weigh in about what’s in store for the property market in the next few months.
Coastal towns are getting a new lease on life as people semigrate, primarily from Gauteng, looking for affordable, safe locations where they can work remotely.
Despite the rising interest rates and rolling Eskom blackouts in a post-Covid 19 environment, the real estate industry has seen a busy 2022. What is next?
PROPERTY DEVELOPERS HAVE SPECIFIC BUYER SEGMENTS THAT THEY TARGET WHEN LOOKING TO SELL: THE LOCAL OR FOREIGN INVESTORS AND THE OWNER-OCCUPIERS Most of the time