Top Property Market Trends in 2021
Category CEO's Message
The property market trends we see now exposes the aftereffects of the 2020 pandemic. Lockdown affected all industries, and real estate is no exception.
However, despite strict lockdown regulations and ongoing load shedding, the property market is showing steady growth.
We break down some of the top trends right now.
Top Property Market Trends in 2021
1. Remote workers move to remote locations.
The many businesses embracing the new work-from-home culture pushed property sales. In particular, sales in those remote towns on the outskirts of the city. Now sometimes referred to as 'Zoom Towns', younger and lower-income families can finally afford to buy homes in these areas.
2. Houses are more affordable.
With interest rates slashed in 2020 and now at a record low, the option of buying a home is more accessible, especially to first-time homeowners.
3. Vacant rental properties all around.
When the pandemic hit South Africa, employees were retrenched at an alarming rate, leaving vacant rental homes behind. Also, now that TERS relief has ended, it is a trend that will more than likely continue. Furthermore, South Africans are waking up to the benefits of choosing a bond payment over monthly rent.
4. More homes are going green.
With the headache of load shedding with us for the foreseeable future, more South Africans are attempting to go 'off the grid' by installing green solutions such as solar panels.
5. Gated sectional title communities are growing.
'Lock up and go' homes with shared amenities in safe, gated communities are gaining popularity, and for a good reason. Lockdown opened our eyes to the importance of having a secure 'quarantine bubble' to call home, and these communities deliver exactly this.
6. Increase in foreign investors.
It's not only South Africans who are noticing the attractive property opportunities at the moment. Across the globe, there is growing interest in the South African property market, including those high-end homes in very affluent areas of the country.
Interested in Buying or Renting? Contact us today.
Author: Tyson Properties
