I have no doubt that real estate principals in Cape Town are all looking at the first quarter sales figures and wondering "what happened … and why?" It has been an outstanding start to the year yet the puzzling thing is that it has happened without any obvious indications that banks are REALLY lending more easily? So what fundamental changes have taken place that resulted in a sharp positive swing in sales activity?
Copied from press: "South Africa's property market showed its highest return in 2012 since the 2008-09 global financial crisis, according to the SAPOA/IPD South Africa Annual Property Index released in Johannesburg last week. The index showed that the country's property sector delivered a 15.2% total return last year, an increase on the 10.3% return in 2011. A real divergence in the market has occurred!
There is certainly a new and positive sentiment about!