Key indicators show that South Africa’s property sector will shift from a buyer’s to a seller’s market in 2024. Chris Tyson from Tyson Properties said that interest rates are expected to drop later this year, leading to an uptick in property transactions.
According to Lightstone, the 2023 market was down 29% on average, but the Lightstone Report showed that 38% of all transactions were first-time buyers, showing an appetite for home ownership is bubbling under.
“At the beginning of 2024, we are entering the year with a more positive outlook. The sentiment in the market is exciting.”
Inflation seems to be returning to more acceptable levels in South Africa, the US and Europe despite the Reserve Bank’s warnings.
