The demand for affordable housing in South Africa’s traditional township areas is driving the township property market boom.
This surge in demand is a significant shift towards affordable housing options, indicating a growing need for access to affordable housing.“Less than 14% of BetterBond’s registered bonds in township areas between January and May this year were above R1 million, and only one was more than R2 million,” said interim Chief Executive Officer of BetterBond, Bradd Bendall.
Furthermore, while properties in the Western Cape were slightly more expensive it was only by a couple of thousands. The three most thriving regions are Athlone, Gugulethu and Mitchell’s Plain.
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