It is the perfect time to purchase property, market is bottoming and a long-term corrective journey starts in 2020

As per article

The regional director and CEO of RE/MAX of Southern Africa is quoted:

“I remain confident in the local property market and believe that we are near the bottom of a downward cycle that is poised to start a long-term corrective journey as we head into 2020”

Affordable houses below R 1,2 million see the majority of transactions and growth

“I believe the luxury market will continue to feel the pinch within this tight economy and the majority of transactions will continue to fall within the affordable price ranges.”

He explains that during 2019 the low to mid-market to R1.8m (R3m in some areas) has performed well, supported by the low borrowing costs and favourable mortgage lending conditions

Biggest growth is of sectional title in inner city developments

According to the chief executive of Pam Golding Properties:

“Developers are responding with a marked shift in new housing stock towards sectional title homes, according to Golding. He points out that this trend is also a result of the shortage and cost of land and mixed-use developments offering a live, work, play lifestyle close to places of work.”

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