The latest trend in Property: The seller’s market seems to be a thing of the past … for now. This is the current sentiment of Samuel Seeff, chairman of theSeeff warned property sellers to be more realistic with asking prices due to less buyers, fewer sales and generally lower prices across the board. For property: The seller’s market appears to have passed, for now.Property: the seller’s market is a thing of the past.
“While the market started its downward curve towards normalcy by 2022, the reality is higher-than-expected interest rates put tremendous downward pressure on sales volumes and offers,” confirmed Seeff.In property terms in South Africa, the ball appears to be back in the buyer’s court. Buyers are also taking longer to purchase because there is little competition. And they’re unwilling to pay high prices, often making offers well below the asking price.