South Africa's Residential Property Market to Lose Value in 2024

Lightstone’s House Price inflation forecast for 2024 shows that South Africa’s residential property market in 2024 should average out below inflation – meaning property owners will be losing value on their property in real terms by the end of the year. Lightstone created three scenarios for residential property prices based on the projected economic conditions in the coming period.The mid scenario is based on a GDP of 1% and core inflation of 4.

5%Lightstone also assumes various repo rate moves for its scenarios. Most economists and analysts anticipate interest rate cuts in the third and fourth quarters of the year. According to the report, the forecasted outcomes of these scenarios are consistent with those forecast for 2023. In 2023, House Price Inflation (HPI) finished at 2.39%, against a forecast range from 0.9% to 3.7%.HPI in South Africa’s residential property market in 2024 should average out between a low of 1.8% and a high of 3.5%.According to Lightstone, luxury homes are expected to perform better in terms of HPI, with the high scenario for luxury homes predicted to be

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Estate Agents Optimistic for South Africa's Property Market in 2024Most estate agents believe that 2024 will be a better year for the property market, with political and economic certainty helping to boost sales. Despite facing major challenges, many estate agents were optimistic for the residential market in 2024.
Source: BusinessTechSA - 🏆 24. / 61 Read more »

Audiologist salary in South Africa: Duties and earnings (2024)Audiologist salary in South Africa varies with level of experience and employer. Uncover their core duties and how they can enhance their earning potential.
Source: brieflyza - 🏆 10. / 68 Read more »