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