Lehabe said first time buyers on the coast have been choosing the Western Cape as their preferred option since 2014 and this trend spiked in 2021 as the market began recovering from the lockdowns of 2020 . While first time buyers of inland properties overwhelmingly bought in Gauteng which remains South Africa ’ s commercial heartland .
“ Favourable interest rates coupled with remote office working and semigration are becoming a more pronounced feature of the residential market , and the Western Cape ’ s reputation for betterrun municipalities is also contributing to the pull of the region .”
SECTIONAL SCHEME TRANSACTIONS SLIGHTLY UP AS A PERCENTAGE Sectional scheme transfers account for 30.7 % of all transfers in 2021 , nearly 1.5 % more than the 29.3 % in 2016 .
76 APRIL 2022 SA Real Estate Investor Magazine