The interest rate cuts made by the South African Reserve Bank in 2024 are good for the property industry and the economy is anticipated to benefit from these and further anticipated cuts in 2025. But thus far, homeowners haven’t yet felt a substantial decrease in their monthly repayments. More cuts and/or less conservative cuts this year will help with how far consumers’ salaries stretch at the end of each month and these will further kickstart the economy in favour of all consumers.
The ongoing stability of the country’s power supply, boosted further by the positive sentiment created by the formation of the Government of National Unity, has paved the way to a positive economic outlook, renewed investor sentiment, lower reported inflation, and the first interest rate cuts experienced in four years.
The advantages of buying a holiday home include the convenience of having your own getaway to escape to whenever you want, and never having to worry about booking in time or paying higher accommodation rates during high season.
