ITS MY HOUSE: Resilient South African property market weathers tough 15 years
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GUEST – Hayley Ivines-Downes - Managing Executive Real Estate at Lightstone
The volume of properties transferred in 2009 (309 899) is not far from the 280 941 transfers in 2023, which reinforces how the property market’s performance mirrors the country’s difficulties.
The 15-year high was recorded in 2022 (348 488) as the market recovered strongly from the period’s low in 2020 when Covid dampened property sales, along with economic activity across the globe.
The volume of properties transferred in 2009 (309 899) is not far from the 280 941 transfers in 2023, which reinforces how the property market’s performance mirrors the country’s difficulties.
The 15-year high was recorded in 2022 (348 488) as the market recovered strongly from the period’s low in 2020 when Covid dampened property sales, along with economic activity across the globe.
