An assessment of capital cities around the world shows that South Africa has one of the most affordable for property.
said that South Africa’s property market would likely face a challenging 2023, with low expectations for growth.
Netcredit’s study looked at over 800,000 properties in 73 different capitals and calculated the median house price for each city per square meter and in total. On the other edge of the scale, it would take 158.4 yearly salaries to afford the median house price in Tehran, Iran. Higher interest rates and the cost of living have reduced demand for houses, but a general shortage of properties on the market has prevented prices from bombing.
In terms of square meterage, Pretoria ranks fifth cheapest – behind Havana, Cuba , Ankara, Turkey and Tripoli, Libya .
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