Elaborating on this phenomenon, he explains that a weaker rand makes imported goods more expensive, contributing to inflationary pressures.

To combat inflation, he said the South African Reserve Bank(SARB) might raise interest rates, increasing borrowing costs and potentially reducing demand in the property market.

“We have only recently begun to enjoy the respite of lower interest rates-let’s hope conditions don’t force the Reserve Bank to swing back into a hiking cycle.”

Thankfully, the decision to implement a 90-day pause on tariffs for most countries has been perceived as a step toward stabilising global trade relations.

Goslett says that this pause could ease some of the economic uncertainties that have plagued international markets and should hopefully hold off the need for any interest rate adjustments.

He said that for South Africa, a reduction in global trade tensions will hopefully bolster investor confidence, potentially leading to a more stable rand and improved economic conditions conducive to property market growth.

However, RE/MAX said the exclusion of China from this reprieve means that significant global trade tensions remain unresolved. It added that given China's pivotal role in the global economy and its status as a major trading partner for South Africa, ongoing US-China trade disputes could have indirect adverse effects on South Africa's economic landscape.

The USDZAR opened the new trading week at 19.0550, according to Nedbank CIB research analyst Reezwana Sumad on Tuesday morning.

“The opening levels proved to be the highs of the day, as the much-improved levels in the local unit spurred USD sellers into action, and this saw it trade very close to the 18,8000 level.

"At the time of the close, it was trading at 18,8650. This morning, the USDZAR is currently trading at 18,8550. The EURUSD is little changed from the previous open at 1,1355 this morning. The GBPUSD posted steady gains over the course of the previous session, and it is currently trading at 1,3215 this morning. The possible trading range for the USDZAR today is 18,6000 to 19,1000.

"The local unit traded at sub 19,0000, and market trading conditions have calmed over the preceding session, although participants remain alert to any new headlines emanating from the US regarding tariffs,” Sumad said.

trumptarrifs

How the 90-day US tariff relief will impact the South African property market