Buyers driving SA property market forwards
South Africa real estate agents warn that overpriced properties will remain on the market unsold for the foreseeable future.
The current economic environment is resulting in a reduction of home finance deals. House prices are deemed too high in many sectors of the South Africa real estate markets.
Many agents have noticed reluctance on the part of some homeowners to readjust asking prices in the wake of the liquidity crisis in the country.
Despite the current economic climate properties are selling but only when the asking price is deemed correct or negotiable. Cash buyers are driving the market and are in pole position when it comes to price negotiation.
Advice for South Africa real estate owners who are keen for a quick sale is to set a realistic price that will attract interest from serious buyers who have the financial means to sign on the dotted line or risk disappointment for many months hence.