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Residential apartments are no longer a safe bet  Residential apartments are seeing slower rental growth across the country.
What is the market value vs the sale price of your property  Experts insist it is not always wise to plough money into a property in an effort to increase the price tag.
Price growth stays flat  Experts say that while fewer properties are being offered for sale, the situation of over-supply persists.
Bond holders dig deep  Many homeowners are struggling to afford their bond repayments in the tough economic climate.

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Slow progress in real estate likely post-election

Experts say SA can expect post-polls improvement in property market, but it will take time.

The property market is likely to improve now that the elections are over, but it will not be an immediate recovery, say property experts. Despite much of the property market’s recent slowdown and buyer hesitation being blamed on uncertainty pending the poll, the country still has hurdles in its way.

What is needed now is for the government to “get on with the job of stabilising the country and economy”, says Samuel Seeff, chairman of the Seeff Property Group. This should be a top priority as it is essential to restoring business, investor and economic confidence.

Seeff believes the market is “perfectly poised” for momentum to begin building. “The mortgage landscape and flat interest rate combined with higher stock levels and flat price growth means buyers can find a good deal in the market right now, but they need to feel their money and property are safe, and that they can feel confident about the future of the country.”

Until consumer and business confidence is restored, Yael Geffen, chief executive of Lew Geffen Sotheby’s International Realty, believes the market will continue to tread water. “We need the government to come to the table with concrete plans to stimulate job creation, and partner with the private sector to inject some energy back into the economy.”

At best, she says, annual house price inflation is unlikely to move beyond 5% for the rest of the year as people continue “to watch and wait” while the government gets to work. “We need decisive, business- and investment-friendly policies implemented soonest.

Read more: Slow progress in real estate likely post-election

 
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Transet Group Acting Chief Executive Officer, Mohammed Mahomedy, is set to take the stand on Wednesday when the judicial commission of inquiry into state capture resumes in Parktown, Johannesburg.The commission has been investigating allegations of state capture,...

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Politics

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President Cyril Ramaphosa could reduce his national executive by as many as nine departments and ministries when he announces the reconfiguration of his Cabinet soon.Although there is no official word from the Union Buildings on when Ramaphosa will announce the...

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Chief Justice Mogoeng Mogoeng says the 2019 general election marked a turning point in South Africa's history, adding that the country needs a Parliament and a provincial legislature that holds the executive accountable. Mogoeng was handed a list of 830 elective...

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Cape Town - With just 15 days remaining between now and South Africa's Cricket World Cup opener against England at The Oval, national coach Ottis Gibson concedes that he has not yet settled on a top order. It may have been a case of keeping his cards close...

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