SA Property Seekers

SA Property News and Tips:

With interest rates increasing and the growth of property prices slowing dramatically, most property experts are advising buyers to look out for some good bargains.

As the South Africa property market continues to slow due to higher rates the number of buyers in looking for Houses for Sale in South Africa is dropped, which means Sellers are having to wait even longer to make that sale.

Another advantage for buyers is that Sellers are having to lower their prices because there is an over supply of houses of sale.

Asked his advice for those people still looking to get into the South African Property market, Ed Grondel of FNB Home Loans says be patient.

This is definitely a buyers market so one should always negotiate and remember, there is now a lot more choice than there used to be.

As for sellers, Grondel warns that to expect this section of the market to continue to grow at the rate it has achieved in recent months, is unrealistic.

If you don’t have to sell now, rather wait a bit as rates are expected to come down, or at least level off, toward the middle of next year and that could help your cause.

Although if you’re forced to sell your property Grondel says security features are still very high up on the wish lists of prospective buyers: to get a good price, often security is essential.

While investing a bit more in your property could help you sell it, ensure that you do not overcapitalise the property.

In terms of the middle-income market, those houses worth between about R300 000 and R700 000, Grondel says demand is still very strong.

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