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Cash buyers nearly 50% of the market

Emmarentia Ridge property for sale 1According to Standard Bank’s house price index for April 2017, the number of cash and mortgage transactions is converging.

Data from the deeds office suggests that the share of cash transactions increased significantly from around 20% in 2006/07 (before the global financial crisis) to around 40% in 2009 (post-GFC); and then fell to around 36% by Q3 2011 before rising again.

“By Q4 2016, we estimate that cash transactions had risen to 46% of residential property transactions, their highest proportion since Q3 2002,” said Siphamandla Mkhwanazi, economist at Standard Bank.

Top photo: This unique, modern two-bedroom Emmarentia home boasts a bush lodge feel and 360-degree panoramic views of the Johannesburg skyline. It features double-volume ceilings, screed flooring, a reception area, lounge and dining with Morso wood-burning fireplace, covered wooden decked entertaining area, kitchen, deluxe master bedroom with en-suite bathroom, second bathroom, study/family room, covered entertaining patio, boma area and swimming pool.
The home is on the market for R7m and is marketed by Jawitz Properties. To view the house, click here: https://goo.gl/dJKgSR


David A Steynberg, managing editor and director of HomeTimes, has more than 10 years of experience as both a journalist and editor, having headed up Business Day’s HomeFront supplement, SAPOA’s range of four printed titles, digimags Asset in Africa and the South African Planning Institute’s official title, Planning Africa, as well as B2B titles, Building Africa and Water, Sewage & Effluent magazines. He began his career at Farmer’s Weekly magazine before moving on to People Magazine where he was awarded two Excellence Awards for Best Real Life feature as well as Writer of the Year runner-up. He is also a past fellow of the International Women’s Media Foundation.

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