from NJABULO BUTHELEZI in Durban
KwaZulu Natal Bureau
DURBAN, (CAJ News) – NEW government policies, a more stable economic environment and the latest interest rate cut bodes well for the South African housing market.
On the KwaZulu-Natal South Coast, where property demand continues to rise, local developers have shared their insights into trends they foresee in 2025.
“We’ve certainly noted an upward trend in the property market with local and international buyers feeling more confident following the May elections,” explained Reece Daniel, developer of the eco-focused estate, Serenity Hills on the KZN South Coast.
The official believes with the South African Reserve Bank cutting the interest rate by 25 basis points in November, bringing the prime lending rate to 11,25 percent, the demand is set to increase.
“There have been a number of interesting trends emerging in terms of property demand and buyers in the second half of the year, and we anticipate this trajectory continuing as we start 2025.”
Daniel said there had been a significant increase in buyers choosing land sales over pre-developed properties.
“Clients are also choosing to buy land as it allows them to manage their expenses more effectively,” Daniel continued.
Another notable trend has been interest from buyers aged 40 and above.
Daniel said that while the stability of the national grid had secured investor confidence, future-focused buyers were still looking for secure estates that offer the foundations for getting off-grid, both in terms of electricity consumption and water use.
– CAJ News