Hayley Ivins-Downes, head of digital at Lightstone, said there were 83,119 registered properties in the year South Africa held its first democratic election, one of which was sectional title and one classified as an estate. Since then another 98,605 freehold properties have been registered, along with 1,779 sectional title properties and 22 estate properties.
Most homes are valued at between R250,000 to R700,000. Of a total of 183,525 homes, 153,769 were valued at between R250,000-R700,000, with 22,098 in the R700,000-R1 million band. There were just 10 homes registered at more than R3 million, the data and analytics firm noted.Despite the more than doubling of homeowners, Ivins-Downes said the market has been relatively quiet since a busy period lasting from 2011 to 2015.