SA's affluent homeowners ditch selling to refurbish their luxury properties
Newly renovated apartment in Clifton selling for R59,5m through Seeff. This is according to the FNB Property Barometer November 2020. Anecdotal evidence suggests that homeowners are withdrawing properties on the market for sale, in favour of home improvement. According to the report, homeowners are believed to be using savings, thanks to low interest rates and travel cost reductions. Siphamandla Mkhwanazi, FNB senior economist, says with many people working from home, many affluent homeowners want better work-at-home environments. “The market is still excessively supplied, and selling co...
Source: biznews.com