The negative effects of the corona virus pandemic is still trickling down to many industries in South Africa. A few months ago, it was widely reported that, the local property industry remained quite stable, despite the scourge of the corona pandemic.
New research has sufficed in October 2020 – whereby it is stipulated that, South Africa has officially been declared as the fourth cheapest country to buy a house in. According to Australian property group, ‘Compare The Market’, it found that South Africa is currently the cheapest country where property buyers might want to explore and take advantage of the opportunity.
Property experts are encouraging those who are still renting and first time home buyers to peruse, through houses on offer during this low peak season in property – with a reportedly three percentage drop in interest rates this year. Property buyers could enjoy sweet deals ranging from R1 million to R1,2 million, a new trend that is highly welcomed and supported by the banks.