Repo rate reaction: Property Sector Yael Geffen, CEO Lew Geffen Sotheby's International Realty

Posted On Thursday, 27 January 2022 11:00 Published by
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According to Yael Geffen, CEO of Lew Geffen Sotheby’s International Realty, the decision by the South African Reserve Bank’s Monetary Policy Committee (MPC) to raise the repo rate by 25 basis points to 4% is not unexpected.

 Yael_Geffen_CEO

“Economists predicted the increase in the last quarter, they predicted this one and they predict further increases by the same increment each quarter for the remainder of the year. Coming off a base of historically low interest rates we’ve known for a year now that increases were due and it’s certainly no cause for concern because it hasn’t affected the turnaround in the property market, which is looking bullish across all sectors.

“And despite the encouraging revival in recent months, the market still very much favours buyers who have their choice of properties across certain price bands, while stock shortages are beginning to appear in others. Banks are competing for the mortgage market, though, and they’re offering very attractive rates, so with the real estate sector increasingly active, the time to dive in is now.

Last modified on Thursday, 10 February 2022 11:06

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