Tenants use instant EFT for its safety, speed and inclusion

PayProp reports continued rapid growth in instant EFT (electronic funds transfer) payments by residential rental tenants. In just the second month of offering instant EFT as a payment option, tenants are paying millions of Rands in monthly rent across hundreds of transactions, representing growth of 62% over October 2020. By contrast, 90% of tenants are […]

Predictions for the 2021 property market

As we near the end of an unprecedented year, Regional Director and CEO of RE/MAX of Southern Africa, Adrian Goslett, looks ahead and predicts yet another year of mixed results as we continue to navigate through the after effects of the national lockdown and continue to battle against the pandemic. Low-interest rates mean high sales […]

First-time buyers flock as Cape Town market becomes more accessible

In recent years, first-time buyers have been increasingly excluded from the Cape Town market as double-digit growth saw prices skyrocket and property in many areas become inaccessible, especially to younger buyers, but a bullish buyer’s market and record low-interest rates have precipitated a notable shift. According to Lightstone, many first-time buyers are going straight for […]

Residential rental price crash continues

After inflation, the picture looks particularly dire. Rental price growth hit a fresh all-time low for the second consecutive quarter in Q3, according to the PayProp Rental Index. Growth between July and September measured just 1.5% year on year, compared to 1.6% in Q2 – the lowest since the index was launched in 2012. It […]

The unchanged repo rate – property industry responds

The Monetary Policy Committee’s decision to hold the repo rate steady yet again, at 3.5%, should be seen as a reminder from the South African Reserve Bank to make the most of the favourable lending rate while it is in single digits. However, Samuel Seff, chairman of the Seeff Property Group, says the decision by […]