Given the vulnerability of South Africa’s economy in the wake of last week’s unrest, as anticipated, the Monetary Policy Committee adopted an accommodative approach by deciding to keep the repo rate steady at 3.5%, which leaves the prime rate at 7%, says Dr Andrew Golding, chief executive of the Pam Golding Property group.

Today’s announcement to hold the repo rate steady at 3.5% marks a full year that South Africans have been able to make the most of a historic low lending environment, says Carl Coetzee, CEO of BetterBond.

Over the past 15 years, the sectional title market in South Africa has become entrenched as a significant component of real estate sales, rising from 13% of total sales in 2005 to nearly 28% in 2020, says Pam Golding Properties.

The residential property market continues to strengthen, as interest rates remain at record-low levels after a year in which the repo rate remained below 4%, says Carl Coetzee, CEO of BetterBond.

Recent reports on property market trends from Q1 2021 have revealed trends in South Africa which are both alarming and inspiring, depending on your position in the market.

Across the market, residential property sales in Bloemfontein last year (2020) were the highest recorded during the past decade, despite the impact of Covid-19 and the lockdown, says Pam Golding Properties area principal, Ulrich Sirgel.

Make buying your dream home an informed purchase by knowing your credit score.

After the five aggressive repo rate cuts last year that dropped the prime lending rate to a historic low of 7%, homeowners and aspirant buyers have been holding their breath, waiting for the pendulum to swing the other way in 2021.

South African home buyers can look forward to a few more months of record-low interest rates as the Monetary Policy Committee has once again opted to hold the repo rate steady at 3.5%.

The South African Reserve Bank (SARB) is set to hold the repo rate at the 23-25 March meeting, according to a unanimous vote by 25 economists on Finder’s repo rate forecast report.  

Page 2 of 21

Most Popular

GMI Property Group adds a New Mall to its Stable: Bronkhorstspruit Mall

Jul 21, 2022
GMI Properties Group announces the development of the much-anticipated Bronkhorstspruit…

Equites Property Fund and Mabel conclude B-BBEE transaction

Jul 21, 2022
Andrea Taverna-Turisan
The JSE listed specialist logistics property fund, Equites, today officially announced…

The growing take-away and fast food, and food delivery, culture

Jul 20, 2022
Restaurant and Take-Aways data for May 2022
Restaurant and Take-Aways data for May 2022 points to “solid but slowing” growth in…

The rapidly rising cost of living is reflecting in residential rentals

Jul 21, 2022
TPN Graph-Rental Demand
Demand for residential rental properties saw some recovery in the first quarter of 2022…

Despite hike, interest rate remains below pre-Covid levels, says Dr Andrew Golding

Jul 21, 2022
Dr Andrew Golding
With the inflation outlook deteriorating since the previous Monetary Policy Committee…

Please publish modules in offcanvas position.