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S.African Property Prices boom is over?

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  • pbs@iafrica.com
    From: WWW.AfricanCrisis.Org A friend of mine is involved in the Real Estate and building business. The last few years has seen an incredible boom in S.African
    Message 1 of 1 , Jan 6, 2005
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      From: WWW.AfricanCrisis.Org
      A friend of mine is involved in the Real Estate and building business.
      The last few years has seen an incredible boom in S.African property
      prices. Some months... property prices have rised at a rate of 20% and
      over. It is the only thing in South Africa which has boomed in recent
      years. News reports now say that in 2004, property prices rose on average
      by 32%.

      However... my friend says... he is watching as property prices are
      starting to fall, especially of properties over R800,000. He says in his
      view, the property price boom is over.

      The company I work for, finances Home Loans... and there has been talk,
      internally this last year, that the property price boom will not be able
      to be sustained for much longer.

      Jan
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