As we approach 2025, the South African property market is at a crossroads, influenced by global economic trends, local policy decisions, and changing consumer behavior. Interest rate fluctuations and uncertainty surrounding global economic policies present both challenges and opportunities for property buyers, sellers, and investors. Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, predicts slow and steady reductions in the repo rate throughout 2025, likely around 1.
25% down by December. This is expected to increase the buyer pool, attracting both first-time buyers and investors, while also providing some relief for existing homeowners with mortgages. Goslett also anticipates that the Western Cape will continue to offer safe and steady returns, albeit at a higher entry price. He believes that Gauteng and KZN will present value opportunities over the next six months. As interest rates decline and buyer demand increases, the window for value home purchases may persist, but the availability of affordable properties will likely decrease as sellers anticipate higher offers. Regarding foreign buyers, Goslett believes that South Africa remains undervalued and attractive to foreigners seeking investment opportunities. He notes that despite the country's challenges, South Africa offers a compelling proposition for foreigners looking to enjoy a high standard of living at affordable prices. Another potential influence on the real estate industry in the coming year is the impact of AI on the way of working. The concept of AI is prevalent across all industries, and its potential effects on businesses are being actively explored
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