It's a good buyer's market in SA right now, says property expert

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There have been several interest rate increases in recent months, but the banks and real estate experts say this hasn't stopped people from applying for bonds.

CAPE TOWN - If you're looking to purchase a home, a local property realtor believes that it is a good buyer's market right now.

"A lot of people have held off over the last couple of years to buy property, and have made sure they've got good credit and have therefore decided to enter the market at this stage, when it is essentially a good buyer's market," said Only Realty Property Group's Grant Smee. Smee advised potential homeowners to do their homework, and budget for the years ahead before making that big buy.

"People look to reenter the market more aggressively but first-time buyers have been severely affected by interest rate increases because of affordability mainly, but again, South Africans, the first opportunity they get to enter the market is when they jump and part of the problem is that they jump into ownership without fully considering the full picture."

 

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I disagree. Repo rate is too high.

That's a joke. It's more like a market to get the f*k out of Dodge while you still can.

I only trust Euphonik 😁

Hmm, not yet, wholesale prices are coming in the next few months... My advice is: sit on your cash a little bit longer...

The repo rate is sky high, rather rent!

Wish it were sellers market

A goodbye market.

Nah it's not especially when the Repo rate is this high iyoo

That can't be true

I would greatly appreciate the opportunity to ask you a question. Specifically, I'm curious about the biggest challenges you face when searching for a property to buy or rent. Would you be willing to share your insights with me?

Oh yes because you buy now the either the bank takes it back because you can't pay (job lost due to loadshedding) or the government takes it (land exploration without compensation)

Right now the vast majority of us are shedding tears over the price of a loaf of bread... but tell the normal South African citizen what a great time it is to spend money we don't have, on properties that we will never afford in our lifetime...

Duh.... that's what higher interest rates do

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Belgique Dernières Nouvelles, Belgique Actualités