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The South African residential property market has had five months of high sales activity, especially from first-time home buyers eager to benefit from the current low interest rates. However, the picture for the rental market has been less rosy.
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House price growth in double digits
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During ‘hard lockdown’ the average house price went into a decline with low expectations of a fast recovery. A few months later, buoyed by a high volume of sales, the average house price is on a growth trajectory into the double digits.
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Nobody could have predicted that the property market would bounce back as quickly as it has. RE/MAX of Southern Africa CEO and regional director Adrian Goslett looks at why this crisis differs from the 2008 crash.
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ADVERTORIAL: MultiNET proves unity is strength
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As South Africa’s only independent mortgage originator, MultiNET is not only an outlier in the bond origination and real estate industry, but also an innovator that has set its sights on being the originator of choice for both estate agents, and buyers.
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Property Charter Council partners with Property Point
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The Property Sector Charter Council (PSCC) has formed a partnership with award winning business accelerator Property Point (PP) to develop and fast-track the participation of black entrepreneurs in the property sector.
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