While South Africa’s economy continued to feel the full effects of the pandemic in 2021, the country’s residential property market moved from strength to strength, with soaring sales, levelling prices, booming rentals, a growth in foreign investment, a semigration surge, increased demand for micro-living, and a growing call for mixed-use developments.
While South Africa’s economy continued to feel the effects of the pandemic in 2021, the country’s residential property market moved from strength to strength, with soaring sales, levelling prices, booming rentals, growth in foreign investment, and a semigration surge.
“The onset of Covid saw the asking prices for homes flattening out to more realistic levels after a period of exponential growth – and there were great deals to be found,” said Horne. “Initially we were seeing many first-time home buyers taking advantage of these favourable conditions, however, we then experienced a steady increase of buyers across the board in all price brackets.”
Among the sales made this year by the Dogon team are some stand-out deals such as a home in Kloof Road that sold for R72.5 million. Two homes in Ocean View Drive sold for R62 million and R30 million respectively, and an apartment at the V&A Waterfront sold for R31.2 million.
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