Property 24 featured last Friday an insightful article on the South African real estate market in 2010.
Mike Flax, executive director of Redefine Properties, doesn’t see a recovery in 2010, since most people will still suffer from the job losses and expenditure cut-backs which the recession made essential.
Flas says that a general recovery of the property market is not to be seen until the end of 2010. He predicts the recovery will be led by the residential sector.
Smart investors will be looking for reputable property at market related prices, like the few remaining Whale Rock Properties in Plettenberg Bay, which has been repriced recently to market-conform levels.
