The South African real estate market is expected to revive in 2024 due to a drop in the repo rate leading to lower mortgage rates. There is a possibility of another rate increase in January before home loan interest rates start to moderate.
There will be two main keys to the anticipated revival of the South Africa n real estate market in 2024, the first of which is a drop in the repo rate leading to lower mortgage rates , says Berry Everitt, CEO of the Chas Everitt International property group. 'And while the South Africa n Reserve Bank (SARB) followed the lead of the US Federal Reserve and kept its repo rate on hold at 8.
25%, an uptick in the inflation rate means there is still a possibility of another increase in January before home loan interest rates start to moderate, and activity in the real estate market starts to increase significantly. Influencing factors Stronger Rand 'A strong reason for such a rate increase would not only be to combat inflation but also to shift the differential between SA and US interest rates closer to the 3,5% gap reached two years ago. A bigger gap makes SA more competitive in attracting foreign investment, strengthens the Rand and lowers inflatio
South Africa Real Estate Market Revival Repo Rate Mortgage Rates Inflation Interest Rates Foreign Investment Rand
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