South Africa's annual national residential property price inflation was 5.0% in December last year, an increase from 4.9% in November 2024. This is according to the Residential Property Price Index (RPPI) December 2024, released by Statistics South Africa on Thursday, which shows that the residential property price index (RPPI) increased by 0.4% month-on-month in December 2024. “The main...
No decline has been observed in farm property values over the past five years. Sakhumzi May, the chief agricultural economist at the Land and Agricultural Development Bank of South Africa (Land Bank), told Independent Media Property that since the onset of the Covid-19 pandemic, transactions have generally shown a stable to moderately increasing trend. “Notably, many of these transactions were...
Investing in property along the Southern Peninsula is considerably more affordable in comparison with coastal cities around the world, where luxury properties in popular destinations like the French Riviera often exceed €1 million (approximately R18 million.) ;Marisol, an exclusive new townhouse development at 3 Thomas Road in Simon's Town, is emerging as a beacon of luxury living with a sophisticated...
The demand for luxury homes, particularly in the Western Cape, is on the rise with foreign investors and returning expatriates see value in investing in a stable property market offering a considerable return on investment, says Bradd Bendell, BetterBond’s national head of sales. Meanwhile Seeff Property Group concurs, saying that luxury trophy homes in Cape Town priced over R20 million have...
The property markets in South Africa are experiencing a stark divide, with KwaZulu-Natal facing significant challenges while Johannesburg shows slight signs of recovery. Economic disparities are at the heart of this divergence, influencing property values and market activity across the regions. In KwaZulu-Natal, property prices have plummeted, with reports indicating a double-digit decline in...
The reversal of the semigration trend to Cape Town (CPT), due to high living costs, reflects the complex interplay of factors currently influencing the South African property market. Initially, the allure of Cape Town's lifestyle, infrastructure, and perceived safety drove significant inward migration from Johannesburg and Durban, say Siphamandla Mkhwanazi, a senior economist at FNB.“However, the rising...
Cape Town's property values continue to rise, relative to other regions. Picture: Lightstone The gap between the Cape Town and Johannesburg property markets continues to widen in favour of the former, according to data released by Lightstone. In terms of average price paid, Cape Town outperformed Johannesburg in all six years from 2019 to 2024, while also inching ahead in terms of outright sales...
Cape Town has continued to show a steady growth of 5.1% in prime residential prices, according to the Knight Frank’s Prime International Residential Index (PIRI). This feat by the Mother City is no surprise, says Nick Gaertner, Director and COO of Knight Frank South Africa. “Lifestyle offerings and affordability has proved a constant attraction to foreigners looking for second homes...
The closure of the Johannesburg Deeds Office has triggered a wave of anxiety among sellers and real estate agents, as the disruption of new lodgements and delayed transactions is increasingly impacting the local property market. The Deeds Office is responsible for the registration, management, and maintenance of the country's property registry. Conveyancers also lodge various documents for...
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...
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