Cape Town Property

Hi there everybody.

It’s been quite some time since I have been using this platform to discuss the property market in Cape Town, South Africa.

Well so much has happened in the Cape Town Property Market since the ANC government has introduced the controversial National Credit Act.

It is my view that this can only hurt the Cape Town Property Market, the South African Property Market and the South African Economy as a whole.

This act has been operational for almost a year now and we are all starting to feel the pinch as this NCA, in conjunction with high interest rates, is driving the South African consumer into the ground.

We are now having a situation where Estate Agents are struggling to sell their properties on their books, banks/bond origination companies are having a tough time and attorneys are having a very slow time.

Property owners, struggling with servicing their bonds, are now looking at selling their properties, but the selling market is very touch as it is a buyers market now.

So all in all, the picture is very dark, especially in view of Eskom’s challenges with supplying existing and new customers with power.

But, this moment too shall pass. I hope sooner, rather than later though.

We need a bit of a shake up of the powers running the country so that we can get qualified people making the decisions that shape our lives, not people who are selected merely through their political affiliation.

I am not trying to punt my political point of view, as this is really of no relevance.  However, when politicians make decisions that impact so negatively on my livelihood and lifestyle without thinking it through properly, I need to be able to give my opinion.

After all, we have a beautiful constitution that entrenches my freedom of speech.

So please wake up, and make the changes, before it is too late.  There is nothing wrong with making mistakes, as long as you are big enough to admit it and fix it.

Kind Regards  All

God’s richest blessings

From

Yasmeen Braaf