The chairman of property group Seeff outlines the current property market.
Some of South Africa's top-performing property markets are acting as a 'canary in the coal mine' for wealth in the country.
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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.
As we approach what is likely to be another steep rate hike for consumers and homeowners, Samuel Seeff, chairman of the Seeff Property Group warns that another rate hike shock will be dire for the property market and economy.
Cape Town’s Southern Suburbs are among the most popular neighbourhoods in the country, not just with locals, but also semigration and international buyers according to Francois Venter, a luxury property expert with Seeff Southern Suburbs.
A sought-after property in Cape Town, the 1728, original ‘Belle Ombre’ farm and homestead is on the market in Constantia Upper for R35 million.
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