Frances Gray-Mnukwana

Buying a home in any market can feel daunting, however, it can become even more nerve-wracking when the market is tight and you need to make decisions quicker than you would have if it wasn’t. So how do you approach a tight market as a buyer? What do you need to do to secure your dream home?

First-time homeownership remains a challenging goal for many South Africans, particularly the youth. Despite a brief period in 2020/21 when interest rates were cut to record lows, participation by young buyers, defined as those under 35 years old, has continued to decline steadily since 2010. This is according to insights from the latest FNB Estate Agents Survey that looks at understanding how first-time buyers are navigating a tight monetary policy environment.

The integration of artificial intelligence (AI) in real estate has revolutionised property transactions, offering tools for better property analysis and customer engagement. However, criminals are exploiting these advancements to perpetrate sophisticated scams that can be used to target property buyers and sellers in South Africa.