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Real Estate News

Port Elizabeth (Gqeberha) Area Insights

OverviewPort Elizabeth, now known as Gqeberha, is a thriving coastal city located in the Eastern Cape province of South Africa. Known for its beautiful beaches, relaxed atmosphere, and historical significance, it offers a perfect blend of urban living and natural beauty. As one of the major ports of South Africa, it also plays an important role in the country's maritime industry. Key Features of Port...

The Future of AI in Real Estate: Current Applications and Disruptive Potential

Artificial Intelligence (AI) is making waves across numerous industries, and the real estate sector is no exception. From automating routine tasks to offering deep insights into market trends, AI is transforming how properties are marketed, managed, and sold. The potential of AI in real estate is massive, with far-reaching implications for buyers, sellers, and investors alike. Current Uses of AI in...

Trends in Urban Housing: A Tale of Two Markets

The South African urban housing market is experiencing a fascinating shift, shaped by various economic, social, and environmental factors. As we navigate 2024, several key trends have emerged that define the opportunities and challenges for both buyers and sellers. Let’s delve into the significant trends shaping urban housing in South Africa. 1. Divergence Between Affordable and Premium...

Buying vs. Renting Property in South Africa

Introduction Deciding whether to buy or rent a property is a significant financial decision that depends on various factors including personal circumstances, market conditions, and long-term goals. In South Africa, this decision is influenced by unique economic factors, housing market trends, and government policies. This article provides a detailed comparison of buying versus renting property in South...

Surging Confidence in South Africa’s Real Estate and Other Services Sectors

The second quarter of 2024 has brought a wave of optimism to South Africa’s business landscape, particularly in the Other Services sector, as reported by the Bureau for Economic Research (BER). The sector has seen a significant increase in business confidence, climbing to 55, indicating that more than half of the respondents are satisfied with the current business conditions. This rise is a substantial...

South Africa’s Government of National Unity: Impacts on the Real Estate Market

The formation of a Government of National Unity (GNU) in South Africa represents a pivotal moment in the nation's political landscape. This coalition, formed after the African National Congress (ANC) failed to secure a majority, involves collaboration with the pro-business Democratic Alliance (DA) and the Inkatha Freedom Party (IFP). This significant shift brings both opportunities and challenges,...

Navigating Landlord Charges for Additional Services in South Africa: A Comprehensive Guide

Understanding the intricate legal landscape surrounding landlord charges for additional services in South Africa is crucial for both landlords and tenants alike. At the heart of this issue lies the principle of tenant consent, as underscored by attorney Deonay Scholtz from the esteemed Property Practice Group. Scholtz's insights, gleaned from recent legal precedents, shed light on the complexities of...

Anticipation Builds for South Africa’s Property Turnaround

The residential property market in South Africa has been facing challenges but shows signs of a gradual turnaround. In the first quarter of 2024, the oobarometer indicates that the extended period of high interest rates has affected the volume of home loan applications processed by ooba Home Loans. Rhys Dyer, CEO of the ooba Group, remains optimistic, stating, “Resilient South Africans are likely...

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