The Seeff Property Group has issued a warning to sellers in South Africa.
According to several real estate experts, this coastal region is becoming a serious player in the real estate game - here's why.
Although the South African property market is struggling due to a sluggish economy and elevated interest rates, there are still potential homebuyers, and sellers should be aware of the factors that may decrease the value of their property.
The chairman of property group Seeff outlines the current property market.
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The Umhlanga property market continues to perform well, says Brett Botsis, Seeff’s licensee for the area. Since the onset of the pandemic there has been a significant uptick in sales in the R5 million to R10 million range.
A luxurious home in the Cape Town neighbourhood of Clifton has recently gone on the market for R160 million.
The Western Cape has become a hotspot for South Africans looking to leave other metros for more remote work options and a possibly higher salary, says real estate company Seeff.