Second quarter oobarometer statistics released by ooba, South Africa’s foremost home loan comparison service, show how the fresh perspective on home and work life brought about by the COVID-19 pandemic has influenced home buyers to buy real estate that suits their new found needs, at a higher average price. 

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.

Communicare was victorious in its battle to have its property returned when the High Court ordered, on 24 May 2021, that 24 apartments that were illegally hijacked immediately be returned to the organisation.  

1st Quarter 2021 StatsSA residential building numbers showed some positive growth in units completed, but growth in plans passed was still negative.

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.

Anybody who’s been through the process of searching for the right property, in the right location, at the right price knows that signing the offer to purchase (OTP) feels like victory, the signal to a new beginning.

Never heard of Occupational Rent, or unsure of its purpose in your property sales contract?

Despite less than 300km separating the Eastern Cape cities of East London from Gqeberha (formally Port Elizabeth), the contrast in the residential rental property market could not be more significant.

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.

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