With South Africa’s interest rate cut to the lowest level in almost 50 years, house prices showing a downward trend and financial institutions granting more 100% bonds, this may be the best ever opportunity for first-time buyers to purchase a home.
The low interest rate means a property of R1 million can be bought with a monthly bond repayment of less than R7 800 over 20 years. This puts owning their own home in the reach of many people who are currently renting for about the same amount per month, or more.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: