Hey there property mogul. 😉 There are early murmurings of an improvement in the South African property market and it’s set to continue well into the year. Here are the trends to keep an eye on:
AirBnB has been one of the biggest disruptors in the housing industry. The trend of chipping in with a group of friends on trips, making a booking through an app or buying a home together is set to continue in 2019.
Millennials are all of the age now to get into the property market. We will continue to see parents lending a helping hand to their millennial children by assisting with deposits or a few down payments.
Ecologically Friendly Housing
Investors are looking into buying properties with boreholes and rain tanks to cut down on the costs of water and electricity. A huge contributing factor to this trend in South Africa was the drought that ravaged Cape Town. The green trend and the global rise of veganism is also a contributing factor.
The cost of living is rising. Consumers will continue to look for ways on how they can scale down their lifestyle and save a bit of cash. Property buyers are also more likely to purchase homes closer to work and the schools their children attend.
The demand for homes in security estates is growing. Unfortunately, with the demand on the rise, prices will do the same.
The majority of buyers scour a vast variety of websites to find their dream home online. The amount of users visiting property websites will rise in 2019 as technology allows sellers and buyers to connect easily. The use of technology and sharing of images before the prospective buyer even steps foot in the house saves time and money for both parties.
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