Property News

During the pandemic, homes have become more than a sanctuary, they have also evolved into what is being dubbed ‘quarantine bubbles’, with many people now spending the majority of their time at home, working or studying.

Since 2014, annual price inflation in coastal areas has remained notably higher than inland regions and, with remote working having become the new normal during lockdown, market activity in scenic areas like False Bay is spiking as many of those who can work from home are opting for lifestyle over commuter convenience.

During the third quarter of 2020 (Q3 20), South Africa’s COVID-19 lockdown moved from Alert Level 3 through to Level 1. In June, pent up demand for properties saw residential property sales skyrocket after the reopening of the property market during lockdown Level 3. This property market boom continued through the third quarter, fuelled by low interest rates and favourable lending terms from South African banks.