South African residential property prices are experiencing continued downward pressure while the average cost of building new property continues to increase year on year with rising costs of materials and labour. The 2018/ 2019 Lightstone Property Forecast showed that the market ended close to 2.9% as opposed to the forecasted 3.8% in 2018. The current market value growth is ranging from 2% to 5% nationally, while the high and luxury wealth segments are growing at below 4%. (more…)
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