Northern Suburbs remains a safe haven
The South African property market experienced a rollercoaster ride during 2019 due to great political and economic uncertainties. Despite the current state of affairs, the Western Cape is performing better than expected, with the Cape Town city bowl as exception. The Cape Town city bowl is currently stabilizing their price offering due to superficial inflated economic conditions the past few years. This created the perfect opportunity for the Northern Suburbs to showcase their proposition - family living just outside of the hustle and bustle of the city. The Durbanville market has steadily kept up with current inflation making it a stable attractive investment for home buyers. Analysts are expecting growth figures of between 6-10% in the future, similar to the period of 2016 to 2018.
Realtors International realizes the challenges that are lying ahead from a political and economic perspective; nonetheless, we remain optimistic about the county's future prospects. There are still many great investment opportunities in the property market, we just need to hustle a bit more to make it happen.
Author: Andre Kritzinger