---
title: Transfer Duty Exemption Boosts Homebuyers' Buying Power | Seeff Blog
description: "Unleash your home buying potential: Learn how transfer duty exemption can make your dream home a reality for you in South Africa’s real estate market today."
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---

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# Transfer duty exemption boosts homebuyers’ buying power

### Transfer duty exemption and competitive mortgage set to boost market sentiment

The recent hike in the transfer duty threshold to R1.1 million has brought a smile to homebuyers' faces, particularly [first-time buyers](https://blog.seeff.com/what-property-buyers-should-look-for-when-buying-their-first-home) who are keen to enter the market.

The positive buying sentiment is further boosted by the competitive offerings from mortgage lenders, with high approval rates and low deposit requirements, making it easier for buyers to secure favourable terms.

Despite the rise in interest rates denting affordability, the market's weak price growth over the past two years (including the COVID-19 era) ensures that first-time buyers can still strike good deals and find fantastic value for money.

## Does the Transfer Duty Exemption Make It a Good Time to Buy a House?

[Seeff Property Group](https://www.seeff.com/) reports that the market is still somewhat well-balanced, with chances for both buyers and sellers. Sales for the year's first quarter are tracking nicely compared to the previous year, and the rental market is expanding as demand rises and landlords report positive rental growth for the first time in two years.

[Recent property data](https://www.news24.com/fin24/companies/house-price-growth-slows-as-financial-pressure-on-consumers-mounts-20230216) indicates a slowing in price appreciation, with just about a 2% growth in 2022 and 4.2% in 2021, compared to 3.5% in 2022 and 4.2% in 2021. This means sellers may be more likely to compromise on their asking prices while the market is still active.

Despite recent interest rate increases, the [South African property market](https://blog.seeff.com/good-news-for-the-south-african-property-market-in-2023) is resilient and offers a solid investment opportunity if you’re keen to buy and rent for some passive income. [First National Bank (FNB](https://www.fnb.co.za/)) reveals that numerous factors, such as lifestyle changes during the pandemic, [semigration](https://blog.seeff.com/why-is-everyone-moving-to-the-western-cape), and consumer preferences, keep the market active

Furthermore, the availability of financing, the competitive home lending market, and the transfer duty exemption make it the [perfect moment to invest in real estate.](https://blog.seeff.com/how-to-recognise-property-investment-opportunities)

![happy first-time buyers holding key and standing in front of new home's garage door](https://blog.seeff.com/hs-fs/hubfs/undefined-May-08-2023-01-52-47-9141-PM.png?width=600&height=450&name=undefined-May-08-2023-01-52-47-9141-PM.png)

Whether you're seeking to buy or rent, take the opportunity provided by the transfer duty exemption to purchase prime real estate market; Seeff’s expert Property Practitioners are here to guide you. [Get in touch with us](https://www.seeff.com/contact/) to find and buy your dream home.

**Author:** Seeff Property Group

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