Latest News & Developments
In 1994 the average house price was R150 000. Today the average house price in the country has exceeded R1. 6m, and it is getting tougher to own a home
Real estate often acts as a hedge against inflation, as property prices have the potential to rise.
The proposed change in VAT will shake up the property market significantly.
As South Africa's residential property market shows signs of recovery with house prices rising, experts warn that affordability challenges remain, particularly for first-time buyers. Discover how economic factors are influencing the housing landscape and what options are available to new entrants seeking homeownership.
First-time buyers are not only facing steeper home prices but banks have also been obliged to adopt a more conservative stance towards credit provision - however despite the expropriation act, ownership still safe.
In his SoNA 2025, President Cyril Ramaphosa said they will set up a transformation fund worth R20 billion a year over the next five years to fund black-owned and small business enterprises.
Added to that, inconsistency of service delivery has imposed additional costs on property owners, who are forced to invest in alternative electricity supplies and water backups, among other solutions.
Professor François Viruly, University of Cape Town associate professor and director of the Urban Real Estate Research Unit, said it is becoming increasingly clear that delivery of housing by different tiers of government does not meet the required demand.
In a response to Independent Media Property enquiry, the estate agency’s CEO Richard Gray, said if municipalities continue to fail in this respect, it will directly impact the value of properties, affordability and the availability of housing a few years down the line.
The new Act is very specific in terms of the conditions for expropriation, and, importantly, the protection of the “property clause” under Section 25 of the Constitution remains in place, says Seeff. Others agree, saying it is not, on the face of it, the disaster some say it is.
Academic says no case for optimism regarding the economy’s outlook based on the most recent interest rate cut but property group says it will bring relief.
Richard Gray, CEO of Harcourts South Africa, said a recovering economy often stimulates property demand, making it an ideal environment for both buyers and sellers.
Speaking to Independent Media Property recently, Neil Gopal, CEO of SAPOA (South African Property Owners Association), said despite recent positive trends in the property market, the ongoing issues at the municipal level threaten to possibly derail the commercial and industrial property sector’s recovery.
IN 2025, the SA property market is poised for significant transformation, driven by technological evolution and shifting consumer behaviour.
City Power has launched a surprise operation to restrict municipal services at Aspen Hills Nature and Dainfern Golf Estates, targeting R130 million in unpaid bills. The CEO highlights the alarming rate of defaults in affluent areas, urging residents to settle their debts.
A significant decline in rental vacancies for residential properties valued at under R12,000 per month has emerged in the third quarter of 2024.
South Africa's economy faces challenges as it contracted by 0. 3% in the third quarter of 2024, primarily due to a significant decline in agriculture. This slowdown raises concerns for consumers as high unemployment and living costs persist.
Local property and housing experts at the forefront of the drive to solve the affordable housing crisis reveal their hopes for the sector for the new year
The SA Reserve Bank cut the repo rate by 0. 25 basis points today, opening the way for more cuts to come.
Getting the lower to middle end of the property market to work could be a game changer and go toward turning the affordable housing crisis around.
High borrowing costs and uncertainty were discouraging potential buyers, while unfavourable selling conditions were causing some homeowners to hold back on listing their properties.
The reality show also portrays the glamorous Cape Town lifestyle.
Devmark Property Group’s Imhoff Manor, a multi-million Rand pet-friendly and exclusive retirement village, will soon be a reality.
A number of other significant factors are on the horizon for South Africa’s property market this year.
Weak house price growth is expected to continue for a little while amid heightened uncertainty.