Renier Bekker

The South African property market is entering a new chapter, characterized by cautious optimism and subtle shifts in activity. Despite encouraging signs of renewed interest, house prices remain relatively stagnant, leaving buyers, sellers, and industry professionals wondering: What’s next for the property market?

Rental growth in South Africa surged in Q2 2024, reaching its highest post-pandemic levels. The PayProp Rental Index shows year-on-year growth peaked at 5.2% in June, outpacing inflation for the first time in five years. While tenants face rising debt burdens, landlords and rental agents are seeing real-terms returns improve, signaling a potential recovery for the sector. Provinces like the Western Cape are leading the way, with rental growth hitting 11.7% – the fastest since 2017.

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?