Main reasons why people sell property in SA

When it comes to property for sale in Mokopane and the rest of the country, Private Property recently revealed the main reasons that people decide to let go of their investments.

Due to the tough conditions in the country currently, with the technical recession taking hold along with inflated living costs, it is not really a seller’s market.

However, activity in the property market continues as there are factors that create the need for people to sell their properties.

If you are among the group of people listing a property for sale, it is important to remember that price will play a vital role in how long it takes for you to secure a buyer.

Interestingly, these were the main reasons listed when it comes to selling a property in South Africa:

Downscaling

In tough financial times, this can be a common reason as people look to lessen their monthly costs. Choosing a property that is cheaper not only comes with reduced bond repayments, but could also come with lower rates, levies, etc…

Emigration

Crime remains one of the major concerns when living in South Africa, while others have family members living abroad. This leads to some people deciding to relocate, with destinations such as the UK and Australia being popular options.

Semi-grating

People living in-land often choose to either retire to the coast, or look for a slower paced lifestyle, while others may head to the likes of Gauteng for business opportunities.

Upgrading

Even in difficult times, some people find themselves in the position to upgrade, whether due to improved earning or a growing family.

Family structure changes

Divorce can often lead to property being sold, with the need for less space or shared properties needing to be sold.