The repo rate is set by the Reserve Bank’s Monetary Policy Committee and is the rate at which it lends money to the country’s commercial banks. South Africa’s repo rate is currently 5.5% and “aggressive hikes can be expected during the rest of the year” according to PayProp’s latest Rental Index Report.
“The value of your property depends on market growth, so there isn’t a simple answer when it comes to evaluating the benefits of a fixed interest rate versus a variable interest rate that fluctuates in line with the repo rate,” said Coetzee. “Each buyer’s financial situation and circumstances are unique, and it depends on the state of the market and house price inflation.”
“Try to hold onto a property for at least four to five years. This time frame is sufficient to show healthy appreciation – the level of appreciation will help you evaluate the property’s future potential performance,” said Cornelius. This home is built over 3 plots of land in a quiet cul-de-sac with one of the most sensational views overlooking a dam and the fairways of the golf course within the estate. It offers 5 en-suite spacious and luxurious bedrooms, one of which is a self-contained flatlet connected to the home, as well as a study all leading out onto the wrap around veranda and gardens.
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