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South African real estate on the rise

South African real estate on the rise

Properties for sale in South Africa have seen prices rise again for the fourth consecutive month during November.

The end of the recession, together with interest rate cuts from the central bank, has indeed bolstered South Africa real estate. Experts from Absa, the country's largest mortgage supplier, predict prices to continue to increase by around 5% in 2010.

Investors are returning and homebuyers are feeling more confident after what has been a financially difficult year. The promise of the benefits that will appear during the World Cup Tournament, adding to the recovering economy, will continue to bolster consumer support.

Financial advisors believe the price of property in South Africa is not likely to return to the levels seen in 2003 and 2007 but instead will rise at a steady and sustainable pace.

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Published: 18-Dec-09

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