Stagnant economy could see forced sale of many properties
The boom in residential property, particularly in the R1m-R3m price range, since estate agents were allowed to operate again, could be followed by an ever bigger buying opportunity in the next few years as forced sales are expected to increase in a persistently weak economy.
Property economist Erwin Rode, CEO of Rode & Associates, says:"If you think now is a golden opportunity to buy, wait." He expects more properties to flood the market in the next few years through forced sales...A subscription gives you full digital access to all Sunday Times content.Registered on the BusinessLIVE, Business Day, Financial Mail or Rand Daily Mail websites? Sign in with the same details.
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