Lisa Steyn

If you’ve ever tried to buy or sell a property in South Africa, you’ve likely encountered a flurry of paperwork, from certified IDs, proof of address, bank confirmations, and more. It might feel excessive at times, but all of it has a very important purpose. That’s where FICA comes in.

The South African housing market is showing some promising signs of recovery, but it's not quite smooth sailing just yet. According to the latest FNB House Price Index (HPI), house price growth remains slow, clocking in at just 0.9% in December. That’s slightly down from 1.0% in November, bringing the annual average to 0.8%—a dip from the 1.5% recorded in 2023. While this may seem underwhelming, it’s in line with expert predictions.

The South African property market is showing signs of recovery, but the pace remains slow and uneven. The latest FNB House Price Index (HPI) indicates that home values rose by 2.2% year-on-year in April, up from 2.0% in March. This marks the fastest growth in nearly two years and reflects a modest improvement in demand.