Upswing in South African property market
The property market has suffered a bit of a dip in recent months, with the technical recession as well as political and other global factors hitting hard, so if you are looking at property for sale in Carletonville, there you should be aware of the current state of the market
When it comes to property for sale in Carletonville at present, whether you are buying or selling, you are sure to face some challenges in the current market.
The technical recession is just one of the reasons that the outlook is a little flat at present, and Samuel Seeff, the chairman of Seeff Property Group, says that there are a number of factors that are preventing the market from hitting another growth phase.
The land expropriation issue remains an influencing factor in the property market, despite the clarity that was offered by President Ramaphosa in parliament earlier this year. His meetings with the likes of the UK Prime Minister as well as the Chinese President assisted, while high level meetings with agricultural bodies and stakeholders also assisted in bringing some calm.
The problem remains that many consumers, both sellers and buyers, are still listening to misinformation and noise regarding the situation. However, it is important to know that it has been clearly stated that no wide-scale expropriation or nationalisation will take place – meaning that property rights will be protected and illegal grabbing of land will not be taken lightly.
Despite the market facing a bit of a dip, it is not all doom and gloom. In fact, the 2008 Global Financial Crisis took the market to lower points, while political instability in the 80s and 90s also saw high inflation and interest rates.
However, anyone entering into the market right now needs to set realistic expectations when it comes to price. Sellers who are looking to squeeze every cent out of their property sale are more likely to sit struggling in the market, while buyers should also not expect ridiculously low prices for quality properties.
