What You Need to Know : South African Property Market 2021
Category News
What You Need to Know: South African Property Market 2021
The interest rate cuts of 2020 continue to contribute to property market growth, making property investment more viable, especially for first-time buyers.
Homebuyers under 35 accounts for 43% of residential sales, a 38% increase from 2019.
There are good investment deals out there, but investors need to look for areas where there is an abundance of good quality tenants but without high vacancy rates. The strong demand from property purchases is an indication of where our market will be in the first half of 2021.
The spring real estate season of 2021 is shaping up to be fierce. With bargain-basement interest rates, a lack of housing supply and everyone eager to relocate during the pandemic, a perfect storm is spurring home sales to a record 14 year high.
Although prospective buyers can still move home, the added logistical complications of doing so during lockdown mean that a slight property market slowdown is likely... But We believe that 2021 may even surpass 2020 in positive property sector growth.
Author: Frans Van Staden
