The new year could see major shifts in the property and lending sectors that are mainly driven by technological advancements and changes in consumer behaviours, according to Bradd Bendall, National Head of Sales, BetterBond.
With these developments in play, there are a few trends expected to change and transform the property market in 2025.
More foreign buyers will be looking to buy property in South Africa, with semigration proving to be an ongoing trend. People are purchasing homes abroad for greener pastures, and South Africa has seen a rise in these foreign buyers, especially with an interest rate that works in their favour.
According to Bendall, another trend to look out for is sustainability as the country continues to see more and more homes go off the grid.
A shift to solo buying is another trend to keep an eye on, with data suggesting that fewer people are buying homes together now than they did ten years ago.
Finally, there is the evergreen trend of artificial intelligence (AI), and specifically, how it will transform the property sector. This year, South Africans can expect to see AI-powered underwriting and processes that will enhance the understanding of the property market, and, in turn, ultimately drive investment.
“Embracing innovation while keeping the customer at the heart of everything we do is the key to thriving in an evolving market. In 2025, we must not only adapt, but also lead the way in transforming the bond origination experience,” Bendall said.
IOL Property
