South African homes are losing their value – except the really cheap ones.
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The real value of South African homes is falling, new data from property and automative information company Lightstone shows, across regions and value bands – except for the cheapest class of residential property.
In May, the average year-on-year rate of inflation for residential property was at 4.46%, Lightstone says.
That is significantly slower than the 6.5% for consumer price inflation (CPI) measured by Statistics South Africa in May.
In May, the average year-on-year rate of inflation for residential property was at 4.46%, Lightstone says.
That is significantly slower than the 6.5% for consumer price inflation (CPI) measured by Statistics South Africa in May.
