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...
In a clear sign of recovery within the South African housing market, the annual national residential property price inflation reached 3.3% in September 2024, up from 3.0% in August 2024, according to the latest figures released by Stats SA. The monthly increase of 0.4% also indicates a gradual upward trend in residential property values, with various factors converging to create a more dynamic...
The huge influx of South Africans moving to Cape Town from Johannesburg has subsided and in fact, 2024 saw over R1 billion worth of office space sold in the city of gold. Rory O’Hagan, a principal of Chas Everitt Hyde Park and Sandton said that “2024 was certainly a delicious year for our Johannesburg offices” and noted that the total value of sales for the year was over R1,24 billion. He...
The remote and hybrid working shift across the world has changed how people and where people live and has sparked a suburban renaissance, as workers search for homes that offer more space, affordability as well as a better quality of life.That's according to Yael Geffen, CEO of Lew Geffen Sotheby’s International Realty."Suburbs and smaller towns, once overlooked by those tethered to urban offices, are...
From record-breaking luxury sales to a surging rental market, Cape Town’s property sector in 2024 showed extraordinary resilience in a year defined by economic recovery and shifting buyer priorities. As smart technology, eco-consciousness, and semigration trends continue to shape the landscape, 2025 promises even greater opportunities for buyers and investors. 2024 in Review: A Market on the Move The...
The Free State has the lowest average rent for full title property and sectional property for Q2 2024, according to the TPN Residential Rental Monitor report which revealed the cost to rent in the nine provinces of South Africa. In the Free State the average for a sectional property or full title property is R6,417 and R6,557, respectively. The Western Cape is the province that has the highest average rent...
It’s no secret that Cape Town has become the preferred destination for upcountry and foreign buyers with sales and property values having surged since 2020, but the niche market that’s capturing the most buyer attention is the secure lifestyle estate sector, especially in the Constantiaberg area where record median prices are being seen. “In 2020 our office saw a 40% year-on-year increase in sales,...
The Cape West Coast stretches across 10 towns, from Yzerfontein in the south to Velddrif in the north, and inland as far as Darling and Hopefield. Dwarskersbos (part of Velddrif) in the north is just 128 km from Melkbosstrand in Cape Town. Yzerfontein is only 96 km or about an hour’s drive from the V & A Waterfront in Cape Town. This region's proximity to Cape Town, combined with the allure of a...
Whether browsing Cape Town property articles or arriving at Cape Town International Airport, visitors and readers alike are typically directed towards the Atlantic Seaboard and City Bowl districts, or even the Constantia area in the Southern Suburbs, as these are seen as the dominant property markets and lifestyle areas in the metropolitan and its surrounds – if not in South Africa. The Cape Winelands...
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