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Urban housing market trends reflect a tale of two markets As economic conditions evolve, these trends will shape both the opportunities and challenges for buyers and sellers in the South African housing market.Rental market picks up the slack as property sales declineWhile the property sales market declined notably during 2023 due to the spike in the interest rate, the rental market soared as many would-be buyers turned to rentals for more affordability and reduced risk.Challenges and opportunities in a shifting property landscape The South African property market is entering a critical year in 2024, poised to be shaped by economic recovery, election uncertainty and evolving buyer trends. While the economic outlook remains cautious, there are promising signs for both buyers and investors.
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