As inflation and rising interest rates dim the attraction of residential property purchases, and slowly recovering employment statistics improve demand for formal residential rentals, it appears the worst may be over for South Africa’s rental market.
South Africans are facing unprecedented financial pressure, with inflation at a 13-year high of 7.8% as of July, says Tony Clarke, MD of the Rawson Property Group. Food, fuel and transport have all reached record levels in recent months. Some…
Homeowners and consumers are in for more belt-tightening as the interest rate rises for the sixth successive time with the Reserve Bank hiking the repo rate by another 75 basis points to 6.25%.
The South African Reserve Bank’s (SARB) Monetary Policy Committee (MPC) on Thursday (21 July), hiked the repo rate by 75 basis points to 5.5% – taking the prime lending rate to 9% – making financing a home more expensive.
Buying a property is a huge financial commitment. Don’t get caught short by these frequently forgotten additional costs. David Jacobs, Gauteng regional manager for the Rawson Property Group, runs through all the expenses buyers need to prepare for, and...
With interest rates likely to rise over the next few years, homeowners who haven’t looked over their bond commitments should do so, advise property experts Paul Stevens and Carl Coetzee.
The last two years have been some of the toughest ever experienced in South Africa’s rental market. Pandemic-driven pressure saw tenant churn and vacancies climbing, tenant reliability and rental collections dropping, and already-slow average rental es...
Where 2020’s property market was driven by first-time purchasers, 2021 was characterised by a return to market from existing property owners, says Tony Clarke, MD of the Rawson Property Group.
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