In just 12 months, interest rates went up by 3.5 percentage points, but this does not mean your bond repayments did too; no, that increase actually means you are now paying 27.2 percent more on your home loan.Added to this, the average salary increase from 2022 to 2023 did not keep up with inflation during that same period.Homeowners with a R1m bond paying R8,521 a month last year were paying R10,837 this...
The housing markets in the Western Cape and Eastern Cape are driving property prices in the region as they offer the enviable coastal lifestyles that buyers are looking for – and affluent foreign buyers can afford. The Western Cape has seen a 10 percent increase in property prices from August 2022 to August this year, and while this performance is not unexpected in the country’s semigration hotspot, it...
If you are thinking of selling your home you may want to consider doing so in winter or spring, and, if possible, avoid putting it on the market in summer.Your main consideration will, of course, be the state of the housing market at the time you want to sell, as well as interest rates and your personal situation, but if you have some flexibility, knowing how to time your sale could be beneficial.Contrary...
The value of all global real estate – comprising residential and commercial real estate, and agricultural land, reached $379.7 trillion – R7.3 quadrillion, last year, maintaining the asset’s position as the world’s most significant store of wealth.And residential property makes up 76 percent of the value of all real estate in the world.Research by global real estate services provider Savills,...
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