Energy, water, security and municipal reliability now influence pricing as much as location.
The May interest rate decision by the South African Reserve Bank Monetary Policy Committee, due this afternoon, finds South Africa’s property market looking stronger on paper than it feels on the ground.
Rates have eased from their peak, says Zibusiso Nzimande, managing director at Isphetho Developments. He notes that the repo rate currently sits at 6.75%, with prime at 10.25%, offering real relief for bond holders.
“We see it in our sales office at Inqaba Views,” he says. “Enquiries are up, and buyers who were sitting on the fence 12 months ago are now running numbers again.”
However, the developer says that this relief is uneven in practice.
