For high-net worth individuals, demand is increasingly shifting towards luxury residential estates in Gauteng.
South Africa's residential property market continued to show resilience in July, with more home loans being granted even as higher deposits put some pressure on applications, while luxury estates in Gauteng and the Western Cape continued to attract high-value buyers.
BetterBond's August Property Brief showed that the number of home loans granted increased by 4.1% year on year in July and by 28% compared with July 2024.
Average house prices also remained relatively firm, with the average price for all buyers at R1.7 million and the average price paid by first-time buyers just above R1.4 million.
The latter represented a record high for first-time buyers.
