PAM Golding Property's Empowerment Division believes that by the end of last year approximately 15% of new buyers that entered the market were from the emerging market. CE Andrew Golding says: "With the residential real estate industry estimated to be worth about R200bn a year, we anticipate R25bn-R30bn worth of new buyers will have entered the market during the course of this year."
While the township market is experiencing a shortage of existing houses, he says that in catering for new entrants to the housing market a high level of development is occurring both in the township market and in peripheral areas, which provide easy access to cities and are within easy reach of commuter nodes. (Read More...)
Business Day - Johannesburg (Friday, January 19, 2007)
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