Economy

South African consumer confidence in the property market is at its highest in ten years, says the Absa Homeowner Sentiment Index. This means South Africans are currently more confident about the property market than they have been in the last decade. This could suggest that people are more optimistic about buying or investing in property. The index revealed that buyers are positive about...

South Africans are feeling bullish about their homes, with the overall homeowner sentiment index climbing to 87%, up 3% quarter on quarter, in the fourth quarter (Q4) of 2024 - the highest in a decade. The Absa Homeowner Sentiment Index (HSI) is compiled from a survey of over 1 200 income-earners from metros, cities, and towns, shows growth. Sentiment to buy rose to 77% from 73% in Q3 and has been...

The ever-present talk of imposing a wealth tax on South Africans as a source of revenue has resurfaced after the National Treasury’s plan to collect an additional R58 billion mainly from higher VAT in the 2025/26 financial year, was stopped in its tracks with the postponement of the National Budget. Business Day quoted “senior officials aligned to the ANC” within the Government of National...

The average house purchase price in South Africa has for the first time exceeded R1.6 million, a dramatic rise from R150 000 in 1994, says alternative home financier Sentinel Homes. The trend of escalating house prices will continue because it is currently more expensive to build new stock than to trade in old stock, says Renier Kriek, managing director at the...

The potential increase in VAT (value added tax) could reduce consumer spending, particularly on non-essential items, negatively impacting property owners with retail exposure as tenants might struggle.Ridwaan Loonat, a senior analyst for Property at Nedbank Corporate and Investment Banking, said VAT is charged on rental income from commercial properties if the landlord is VAT registered, but not on...

The South African government’s proposal to increase VAT from 15% to 17% has sparked concerns across various sectors, with experts warning of its potential impact on consumers and the property market. According to Antonie Goosen, principal and founder of Meridian Realty, the increase could significantly affect homebuyers, sellers, and investors. “A VAT increase means higher costs for essential goods...

The South African housing and property development sector is navigating a critical juncture, grappling with a stark shortage of registered Quantity Surveyors (QS). As demand for affordable housing surges, industry experts warn that this essential profession plays a pivotal role in delivering infrastructure efficiently and cost-effectively. However, the current lack of skilled professionals has led to...

While there is no perfect budget, a property marketing expert is hoping for a balanced one to boost the property sector.Responding to an Independent Media Property enquiry, before the Finance Minister Enoch Godongwana budget speech was postponed on Wednesday, Stefan Botha, who is also the Director at Rainmaker Marketing said this would involve the speech addressing economic growth which starts by...

On June 19, 1913, black South Africans awoke to find themselves strangers in their own country. With the stroke of a pen, they were dispossessed and restricted from owning land through the 1913 Natives Land. This catastrophic event forever changed life in South Africa. It resulted in the skewed distribution of land and deep-rooted inequality. In limiting land ownership to only a small...

In a significant milestone for land reform in South Africa, a recent report has revealed that nearly a quarter of the farmland previously owned by white landowners under apartheid has been restored or redistributed to black South Africans. This comes 31 years after the end of apartheid, raising both hope and concern regarding the future of land use and productivity in a transformed agricultural...