Interest rates are high, Xenophobia is happening, what about property?
An interest rate of 16%, if governor Tito Mboweni raises it by 200 basis point on the 12th of June, xenophobia is causing foreigners to fear for their lives, what is happening, and is this good for property?
Well, if you are a property investor or you are thinking of buying property, then you should realize that this could be good for you. Yes I said good for you. All these factors will probably cause property prices to drop making it possible to buy property at ridiculously low prices.
I know that it is making the monthly repayments high but if you can get your hands on property and hold it, you will definitely end up with the rewards when the market turns around.
So I say let’s stop just looking at the bad, and start looking at how we can profit from all of this. Get rid of your credit cards, short term loans and clothing accounts. Get your money into property and then be patient.
Remember, what goes up must come down and what comes down must go up. Your mission should be to make a profit in all markets, even if you have to wait a bit before you can realize that profit.
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Try and avoid a bad tenant. by Nats on September 17th, 2008
There are so many things to think of when purchasing a property for investment purposes and the work doesn't end when you take transfer and the property is finally yours.
Benefits to buying repossessed property. by Nats on September 2nd, 2008
When buying a repossessed property or PIP (property in possession) there are no transfer duties payable,unless you are a VAT vendor in which case they are payable.
Good things on the horizon for the South African property market. by Nats on August 25th, 2008
Some experts are predicting that we have seen the bottom of the property market and we can now start a slow recovery from the last couple of months of slow growth.
Disclaimer by doublef on September 24th, 2008
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Interest Rate not looking good for households. by doublef on March 31st, 2008
An interest rate hike seems to be on the cards for April.
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