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Housing prices in South African Republic continue to increase
Housing prices in South African Republic continue to increase
May 15, 2010In April, local residential property prices have climbed up both in monthly and yearly terms.
Absa has released report covering this issue. The study accounts homes with floor area of 80-400 sq. m, which cost lower than 3.1 million rand ($400,000).
We would like to remind you that South African homes have also been appreciating throughout March. Increased housing prices are reasoned by active development of national economy, as well as by high demand for property, which is due to SAR hosting the Soccer World Cup in 2010. Besides that, the demand for housing (as well as the prices) grows because of favorable mortgage lending conditions – at the moment credit interest rates are the lowest since 1974.
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