property market Archives - AfricaBusiness.com

Independent and inspirational – the healthy, active and dynamic 55+ age group in South Africa wants community, lifestyle and privacy from their property investments[1]. Property prices in Franschhoek have soared in the last 10 years at an increase of 104%[2] In 2023, the Franschhoek residential property market generated R565 million in sales, with a total of 104 residential properties sold - of which 70 were own title properties worth R414 million and 24 were sectional title properties worth R151 million.[3] The asking price for properties in Franschhoek varies from R3.3 million to R12 million dependent on size and location Franschhoek's property market is characterised by a strong concentration of wealth, rising property values, increasing local demand and limited developmen...

As interest rates remain stable against the backdrop of a challenging economic climate, banks are being pushed to innovate and offer more competitive home loan terms to attract customers. This environment has given rise to a practice widely adopted in the UK but is yet to reach a tipping point in South Africa: bond switching. Clive Bredenkamp, IT Executive at Proptech specialist e4, explains the potential shifts: “The property market is inherently sensitive to interest rate changes. While the rates are currently only marginally higher than in 2019, the market’s response to the current interest rate has been disproportionately severe due to the very low rates we experienced during the pandemic. However, with new players entering the market and offering up to a 1% discount on interest rates...

Tag: property market

Luxurious Age in Place living: Franschhoek’s La Luc Estate reimagines active retirement

Increased competition and bond switching set to shake up the SA property market