Absa – Land prices increase by 33,6%

Nominal growth in residential land prices increased by 33,6% y/y to about R251 100 on average in the third quarter of 200, according to Absa in its recently released property review for the period.

“This,” the bank says “represents a growth of 28,8% y/y in real terms.”

“Suitable and properly serviced land for residential development has become increasingly scarce in recent times, especially in the rapidly growing metropolitan areas.
In coastal areas, residential land with good views also increased significantly in value over the past few years.”
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