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INVESTMENT HOT SPOTS
Gauteng ' s Sandton however is transitioning from a strong business district to a more luxury residential space , offering many redevelopment opportunities . Pretoria stands out as the world ' s most affordable capital city , attracting first-time buyers and families .
In KwaZulu-Natal , Ballito , and coastal towns experience growth , while the Eastern Cape sees a rise in smaller towns , attracting semigrants and first-time buyers . Mpumalanga emerges as a property investment hotspot with a 17.3 % house price inflation , offering diverse options for first-time buyers , professionals , and retirees .
Bloemfontein in the Free State stands out as an affordable city , attracting young buyers and families . As interest rates stabilize , these hotspots offer promising investment opportunities for those who understand the nuances of each market .
Despite the allure of the Western Cape , other provinces grapple with the persistent challenge of inadequate municipal services . The key to retaining residents and attracting real estate investors lies in a combination of interest rate recovery , inflation reduction , and significant improvements in municipal services . Until these factors align , the Western Cape is poised to maintain its appeal , drawing in individuals and investors from across other provinces .
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Real Estate Investor Magazine DEC 2023 / JAN 2024 48