Rent or buy? Residential property market shifts as rate hikes continue | Business

It shows the rental market has continued on a gradual recovery path. Rental vacancy rates have slowed from 13% during the pandemic to 7.8% in the third quarter of 2022. However, vacancy rates remain above the pre-pandemic average of 5.3% between 2017 and 2019.

Rental inflation increased by 2.8% year-on-year in the third quarter of 2022, up from what FNB calls"a trough" of 0.6% in the first quarter of 2021. "The pace of [rental] recovery is still constrained by weak employment growth and a rising cost of living. While demand is improving, there is still excess supply in the market. This is reflected by the declining average real rental rate, as well as above-average vacancy rates," states the FNB barometer report.

According to Samuel Seeff, chair of the Seeff Property Group, semigration and a return of tourism have also boosted rental demand.

Colombia Últimas Noticias, Colombia Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

From doctor-vouchers to R11 000 surgeries: Netcare has big plans for new business | BusinessNetcare has rapidly expanded NetcarePlus, adding vouchers for dental care and optometry, as well as gap cover, trauma cover and all-inclusive planned surgery vouchers. | News24_Business
Fuente: News24 - 🏆 4. / 80 Leer más »

18 haunting images capture Cyprus' divided border that's effectively frozen-in-time | Business InsiderThe United Nations Buffer Zone has cut straight through Cyprus for nearly five decades, freezing the location in time.
Fuente: BISouthAfrica - 🏆 34. / 51 Leer más »