The CEO of Seeff Property Group reveals two factors currently boosting the property market.
The property market is increasingly favouring buyers across many areas in South Africa, says Samuel Seeff, chairman of the Seeff Property Group.
He added that the prime lending rate at 11.75%, while notably higher compared to the last two years, is still below the average of 15%-16%. Even at the height of the Covid property boom, growth only reached around 6% on average, although some high-demand areas experienced exceptional growth. Comparatively, global markets experienced runaway price growth of 20%-30%.
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