South Africa’s real estate market is turning into a buyers market.
With the climbing interest rate and National Credit Act buyers are becoming more conservative with their offers.
Sellers need to start being realistic. Buyers have much more properties to choose from now. Sellers should not stay fixed on the price they want for their property, they must adjust to the new market conditions if they are going to stand any chance of selling.
Remember if the property stays on the market for too long, buyers just won’t be interested any more, even if the price is reduced.
It is’nt all bad news though, South Africa’s property market is still a good investment if you can afford it.
