Looking to claim your spot in the sought-after property sector in South Africa? We explore how you can make the most of your real estate investment this year and why this is the right time to buy.
Interest rate forecast: what the weather looks like in the real estate world
Economic shifts and changes have resulted in numerous potential buyers reluctant to dip their toes into the property market. However, 2024 looks poised to be a successful year of positive investments and hopeful ventures. While there are many socioeconomic factors to consider, with wise financial planning and solid support from your trusted Seeff property practitioner, you can begin to set your sights on countless homes within your reach.
Economists and experts have indicated that there may be a lower interest rate predicted for the latter half of this year. With no expected price hikes in sight, it is a relief for those who want to invest in South African property.
The perfect time to start looking: get your calculator out
Sticking to a strict budget will go a long way towards preparing for your planned investment. Having a shortlist of areas you want to live in will help give you an overview of what you are expected to spend. The right areas will dictate the value of your property and its growth potential. With markets in a stable condition, Stats SA reports show that building plans for residential developments had increased by 22% throughout 2022 in the Western Cape, with a rising number of plans expected to be complete by the end of 2024. There are also multiple tax benefits to becoming a property investor in South Africa, that can help make your decision that much sweeter.
The jewels in South Africa’s crown: top locations to call home
Tourists who flock to our country each season to enjoy the beautiful landscape of our provinces know that South Africa is special. With booming social and business scenes, international franchise investments and rising property developments, investing in real estate in major cities such as Cape Town, Johannesburg, Durban and Pretoria has become the popular choice. Semigration and working from home have also contributed to people prioritising a comfortable home life, picking properties that have all the bells and whistles one would need.
When reality hits home: searching for the best deal
First-time qualifying home buyers could secure a 100% bond depending on their credit record and bank approval ratings. Paired with toned-down interest rates, 2024 has the ability to be the year you become a homeowner. Seeff Property Group has a variety of listings ranging in prices, areas and specifications to help you find the perfect fit for your lifestyle. Consider the maintenance costs of the home you want to purchase, transfer bills, insurance and other hidden payments that might not be clear from the start.
Act fast: approaching sought-after houses on the market
Watch your shortlist of dream homes dwindle as you hesitate to take the first step in the buying process. Arrange to view the properties you’re interested in, so you can make an informed decision on the best home for you. This is why having the right property practitioner is crucial, as expert advice can secure an efficient deal, organise paperwork and streamline the process for you. 2024 is the age of convenience. Make your home-buying experience one of ease, fun and enjoyment with Seeff Property Group, as we show you the best properties on the market in South Africa.
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