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Subdued property market in SA

Subdued property market in SA According to one expert prices of property in South Africa dropped in the first part of 2012 in a way not seen for almost thirty years. Property economist Erwin Rode believes that South Africa real estate prices are still significantly overpriced despite the last few years of recession and suggested that price depreciation is inevitable in the not too distant future. Other residential real estate property commentators and economists totally disagree with this viewpoint. Recent reports suggest that residential rental charges increased on apartments by 5 per cent and on houses by 4 per cent. Demand for commercial premises remains subdued while the economy remains under pressure while the continue outlook for recovery appears to be shrouded in uncertainty.
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Published: 26-Jul-12

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