Filed Under:
News - Published on
October 27, 2009
Real estate heavyweights predict that 2010 will be a great property year.
Absa’s
home loans’ boss says that he sees “light at the end of the tunnel and no train in sight”. Home loan applications were up by a dramatic 20% in September and approvals at Absa for residential mortgage applications are also up.
It seems as though people are more positive because the affordability levels are back to around the 2007 levels. Banks will grant more in mortgage finance because of the fallen interest rates since December.
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Filed Under:
News - Published on
June 30, 2009
The residential property sector has been affected by rising interest rates, but not nearly as much as expected.
The emerging black middle class, together with a strong economy, are some factors that play a role in the ongoing demand for property, even when interest rates are climbing the ladder everyday.
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Filed Under:
News - Published on
June 30, 2009
The number of people who cannot afford their monthly bond repayment is increasing in South Africa and causes concern in the industry.
The US home loan market experienced a crisis after 22 lenders in the US sub prime market has been declared bankrupt in the past two months. Household debt had risen sharply in the past few years but fortunately in South Africa; banks are more conservative than those in the US. Banks are not locked into a rate at which the loans become unprofitable.
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