Lightstone Property has warned that the number of negative sales—where houses are sold for less than they were bought for—is on the rise in South Africa.
In today’s local economy, while SIEs are decreasing, negative sales, where houses are sold for less than their purchase price, are increasing. “When looking at SIEs, negative sales and negative value growth sales in tandem, we see a likely more realistic view of true distress as, therefore failing to realise the anticipated growth in value,” it said.
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