Tag Archives: Seeff Property Group

Semigration reversal a boost for Gauteng rental market

A reported reverse semigration from the Cape to Gauteng is boosting the province’s rental market, according to the Seeff Property Group.

The Wise Move 2025 Migration Report reveals that around 25% of people who previously relocated to the Cape are now moving back to Gauteng, driven largely by better affordability and economic opportunity.

Rawson Property Group noted that while many have been called back to the office, it’s caused a ripple effect in the rental market.

A recent survey by CareerJunction found that nearly 60% of South African employers are now requiring employees to return to the office.

Since many large corporations are headquartered in Johannesburg, professionals who moved to coastal areas during the work-from-home boom are now needing to return.

“Many reverse semigrators are choosing to hold onto their Western Cape properties as rental investments rather than selling, boosting the rental market” said Roger Lotz, franchisee at the Rawson Properties Helderberg Group. “That speaks volumes about their confidence in the long-term value of Cape property.”

With property prices in Gauteng averaging R1.3 million – about 27% lower than the Cape’s R1.8 million – and rentals coming in 20% cheaper (R9,201 vs. R11,285), the financial benefits are noteworthy, said Seeff.

Many returnees are choosing to rent first, making Gauteng – South Africa’s economic hub – the largest rental market in the country. According to TPN, 37.8% of Gauteng households are renting.

Despite this strong demand, rental prices have remained relatively stable, growing by just 2.9% on average over the past year, according to PayProp. However, high-demand areas with limited stock are seeing increases of 3% to 5%, opening up attractive opportunities for rental investors, say Seeff agents.

Beyond lower housing costs, Gauteng metros like Johannesburg and Pretoria also offer slightly lower overall living expenses, according to Numbeo. They provide a broader mix of affordable rental options, including entry-level housing that is increasingly hard to find in the Cape.

Christa Roos, licensee for Seeff Helderkruin, pointed to an influx of people heading to areas in the valley (Kloofendal, Helderkruin, Wilro Park and Roodekrans), largely due to the good value for money. Rental properties move very quickly in the R15,000-plus market.

Joburg South and Alberton are very popular due to affordability, especially in the R4,500 to R8,000 per month range, said Ruth Sturgess from Seeff, adding that there are investor opportunities to earn steady rental incomes from R6,000 to R12,500 (family houses in Kibler Park).

According to Carin Buitendach from Seeff Boksburg and Benoni, these areas are very popular for its affordability in the R5,000 to R7,000 per month range, with top end rentals reaching R15,000 for a freestanding house rented out by Seeff.

Rentals grew by about 5% over the last year, and there is opportunity for investors to earn steady monthly rentals of R6,000 to R6,500.

Randburg offers a broad middle-class appeal, and a great choice of affordable rentals in the R7,000 to R14,000 per month range while larger homes tend to rent out in the R25,000 to R35,000-plus range.

The Joburg North West area offers affordability for those who commute for work into Randburg and Sandton. Rochelle Holland, Seeff’s sales and rentals manager for the area said people often rent before they buy in the area.

There is also an opportunity for rental investors in the R500,000 to R950,000 price brackets as these are very popular rentals and can earn a steady income of R7,000 to R12,000 monthly.

The Eagle Canyon Golf Estate is also very popular for rentals, priced mostly in the R20,000 – R30,000 range with high end homes renting out for up to R60,000 – R70,000 by Seeff.

The northern suburbs of Sandton/Bryanston/Fourways are also hugely popular with a mix of status and wanting to be close to business areas driving demand, according to Seeff Sandton.

The R10,000 – R20,000 bracket is the most popular, especially for sectional titles while luxury homes range up to R45,000 – R60,000, and super homes well above this.

In the Pretoria metro, areas such as Centurion are popular for its proximity to the metro and Midrand, according to Tiaan Pretorius, manager for Seeff Centurion who says correctly priced rentals can go within hours or days.

Prices start from R5,000 with the highest demand in the R14,000 to R25,000 range. Rental escalations have been in line with the CPI at between 3% – 5%.

The Pretoria East rental market has been particularly busy this year with Seeff recording some of its best months, according to PG van der Linde, rentals manager for Seeff Pretoria East. The R12,000 to R20,000 bracket has been most active.

Cape Town property: Investor boom or bubble risk?

Cape Town continues to dominate South Africa’s residential property market in 2025, outperforming all major metros with an impressive 8.5% annual price growth.

This far exceeds the national average of 5.2%, making Cape Town not only the most expensive city for real estate in South Africa but also the fastest growing.

As of mid-2025, the average residential property in Cape Town is priced at R3.5 million, with prime suburbs like Clifton and Camps Bay commanding more than R31,000 per square metre, notes TheAfricanvestor.

In contrast, Johannesburg and Durban lag behind, with prime property prices averaging R14,000/m² and R10,880/m², respectively.

Several key factors are propelling Cape Town’s property growth:
1. Foreign Investment

Cape Town saw over R1 billion in foreign property purchases in just the first five months of 2025. International buyers – particularly from Germany, the UK, the Netherlands, Switzerland, and the US – now account for 67% of all sales in prime areas like the Atlantic Seaboard and City Bowl.

According to Seeff Property Group and PropStats, in 2024, a record 130 plus properties worth more than R20 million were sold in Cape Town — up from 96 in 2023 and the previous high of 120, recorded during the post-pandemic rebound in 2022.

2. Semigration & Domestic Demand

There’s a steady stream of professionals and retirees relocating from Gauteng and KwaZulu-Natal, seeking Cape Town’s better quality of life, governance, and amenities.

This migration is tightening demand and raising prices in both established and emerging neighbourhoods.

3. Interest Rate Cuts

After peaking in 2023, the South African Reserve Bank began cutting interest rates in late 2024. With the repo rate now at 7.75%, affordability has improved dramatically.

Home loan applications are up 10% in 2025, boosting sales and compressing days-on-market in high-demand areas.

4. Limited Supply in Prime Areas

Natural geography, zoning regulations, and heritage protections mean there’s very little developable land left in Cape Town’s most desirable suburbs.

This scarcity ensures sustained upward pressure on prices especially for sea-facing and mountain-view properties.

Cape Town’s property growth isn’t evenly spread – some areas are outpacing others by wide margins.
Area / TypeAvg Price/m²Comments
Atlantic SeaboardR35,000+Highest growth, limited stock
City BowlR31,000High rental demand, digital nomad hub
Woodstock / Salt RiverR18,000–22,000Gentrification, yields >8%
Green Point / Sea PointR28,000+Strong urban amenities
Century CityR26,000+Mixed-use, infrastructure growth
Sectional Titles (overall WC)R28,114Outperforming freeholds

Here’s how Cape Town stacks up against other metros:

City5-Year Growth10-Year GrowthAvg Price/m² (2025)
Cape Town+30%+141–147%R31,000 (prime)
Johannesburg+8.6%+71%R14,000
Durban+16.4%+80%R10,880
National Avg.+23.8%+98%R15,500

A home bought in Cape Town for R2 million in 2015 is now worth nearly R5 million. That same home in Johannesburg would only be worth R3.4 million.

Market experts predict moderate, sustained growth of 3–7% per year, with prime areas reaching 8% or more depending on buyer sentiment and further rate cuts.

The combination of strong fundamentals and stable governance in the Western Cape makes Cape Town one of Africa’s safest bets for residential real estate investors, TheAfricanvestor said.

Property bubble?

A housing bubble occurs when property prices rise rapidly to unsustainable levels, driven by speculation and inflated demand—eventually outpacing fundamentals.

Once demand slows or economic conditions shift, prices typically correct or fall, sometimes sharply.

So far, it said there’s little evidence of a property bubble. Price growth is underpinned by real demand – not speculation. Unlike boom-bust cycles elsewhere, Cape Town’s market reflects:

  • High occupancy rates
  • Long-term lifestyle migration
  • Limited inventory
  • Foreign capital inflow

Signs point to continued momentum in Cape Town’s property market. While much of the country struggles with corruption, bankrupt municipalities, and deteriorating service delivery, Cape Town stands apart — supported by stable governance, sound infrastructure, and effective urban management.

But rapid growth brings its own pressures. “Infrastructure and spatial planning are critical as we see densification in areas like the West Coast, Sunningdale, Blouberg, and Hout Bay. These areas are experiencing significant growth, primarily driven by semigration. We’re observing similar trends in George and Mossel Bay as well,” said Grant Smee, CEO of Proptech and digital agency Leadhome.

Record foreign investment in Cape Town property market

Cape Town has seen unprecedented international investment in its residential property market, especially across high-demand areas such as the Atlantic Seaboard and City Bowl, driven by a record-breaking summer tourism season.

According to the Seeff Property Group, foreign buyers have poured nearly R2.5 billion into Cape Town real estate in the first five months of 2025 alone—the highest in five years.

Propstats data reveals that sales from January to May totalled R2.462 billion, on track to exceed the full-year totals of R3.4 billion in both 2023 and 2024. February saw international purchases hitting R600 million, climbing to R700 million in April.

Approximately 67% of the total value originated from the Atlantic Seaboard and City Bowl—an area consistently popular among overseas investors.

Ross Levin, licensee for Seeff Atlantic Seaboard, said that in April alone, international sales in the Atlantic Seaboard reached R530 million.

High-value suburbs include Camps Bay and Bantry Bay, while the highest transaction volumes were recorded in Sea Point (27 units) and the CBD (32 units).

Among the standout transactions:

-R21 million and R29 million sales to German buyers in Camps Bay and the V&A Waterfront.
-A R29.5 million sale to a buyer from eSwatini at the Waterfront.

Buyers from over 40 countries invested in Cape Town property this year. Leading the pack are Germany, the UK, Netherlands, Switzerland, and other European countries.

The US has also shown a notable increase in demand, with buyers focusing on Sea Point, Bantry Bay, Mouille Point, and the City Bowl, said Seeff.

African buyers have returned in strength, representing 12 countries, including Nigeria, Ghana, Namibia, and Angola. Nigeria, in particular, stands out for the volume of transactions.

Foreign buyers were also active in Constantia, Bishopscourt, and across False Bay, including Muizenberg and Fish Hoek. On the West Coast, Seeff Blouberg recorded a R16.5 million sale in Sunset Beach to a US buyer.

In Hout Bay, activity has been especially strong with 37 international sales, predominantly to German, Dutch, UK, Danish, and American buyers. Properties sold in this area ranged between R5 million and R25 million, according to Stephan Cross, manager for Seeff Hout Bay and Llandudno.

Levin said demand is outpacing supply in many prime suburbs, presenting strong opportunities for sellers. International buyers not only invest significantly in real estate but also contribute further through renovations and luxury lifestyle spending, injecting valuable foreign income into the local economy.

Top reason why your property isn’t selling

When it comes to selling property, time is money, and most sellers therefore want to get their property sold for the best price as quickly as possible.

Agents from the Seeff Property Group therefore advise that there should be no time wasted by testing the market.

Sellers would simply be wasting their own time. What’s more, experience has also shown time and again, that going onto the market at a price which is out of kilter with peer properties inevitably ends up selling for less than what it could have.

The top reason why a property is not selling is usually because it is overpriced, said Tiaan Pretorius, manager for Seeff Centurion. Unfortunately, owners often believe their properties are worth more.

The reality, however, is that if your property is priced above the market, buyers will simply look at other properties as buyers generally look for the best value they can find.

Factors which influence the time it takes to sell a property include the location, condition of the property, overcapitalisation, the number of similar properties on the market, high levies, and the economic conditions which might be resulting in low demand, and properties staying on the market for longer.

Pretorius said, however, that there are always buyers. It’s just a matter of ensuring that if you are a serious property seller, you follow the “golden rules” to speed up the sale of your property.

He highlighted five strategic steps that can help sellers position their property effectively for a successful sale in a challenging market – without simply sacrificing value.

1 – Hire an experienced local agent. More than 90% of all properties are sold by agents in South Africa. Choosing a local agent with a track record of sales in the area means they offer the experience of successfully selling properties just like yours. Such an agent would more than likely already have a buyer in mind for your property.
2 – Be upfront about your needs. Be clear, but realistic, about your price expectations from the sale. If the agent knows what you expect to net from the sale, they can better market the property, and manage the offers. If you are not upfront about your minimum price level, it could result in delays.
3 – Stage the property for a fast sale. Ensure the property is in a showhouse condition, cleaned thoroughly and all maintenance done so that potential buyers have no reason to walk away. It should also be fully compliant and basically be move-in ready to avoid any doubt in the mind of the buyer.
4 – Price mid-range, rather than at the top of the price scale. By pricing in the mid-range, it leaves room to negotiate the price. If, however, it starts at the top of the range, it could likely put buyers off. The agent is skilled at negotiating, and experience has shown that a high price a correctly priced property will likely attract more serious buyers and offers.
5 – Be flexible and open to negotiation. If you need to make a fast sale, you will likely need to be flexible on the price, especially if it is in an area with plenty of stock for buyers to choose from. You would also need to be accommodating in terms of viewings. That said, the agent should qualify buyers to ensure there are no time wasters.

Mortgage relief as prime rate drops to 10.75%

The property industry has welcomed the latest interest rate cut announced by South African Reserve Bank Governor Lesetja Kganyago, viewing it as much-needed relief for consumers – particularly homebuyers and mortgage applicants.

Following the May meeting of the Monetary Policy Committee (MPC), the Reserve Bank lowered the repo rate by 25 basis points to 7.25%, while the prime lending rate now stands at 10.75%.

While modest, the reduction is expected to make mortgage repayments slightly more manageable, providing a welcome reprieve amid ongoing economic strain.

The decision reflects the central bank’s confidence in the current inflation outlook, with consumer inflation remaining below the 3–6% target range — creating space for monetary easing.

Subdued economic growth, low inflation and weaker consumer and business confidence made a compelling case for further interest rate relief, which manifested at this month’s (May) MPC meeting, said Dr Andrew Golding, chief executive of the Pam Golding Property group.

Encouragingly, with inflation remaining below 3% (2.85% in April), the Monetary Policy Committee seized the opportunity to give South Africa’s economy a much-needed boost in sentiment.

“Furthermore, with Inflation surprising on the downside in recent months and, with a petrol price cut likely next month (June) – although partially offset by the 15 cents per litre hike in the fuel levy – price pressures are likely to remain subdued.”

Coupled with this is the fact that local economic recovery was sluggish in the first quarter of the year, with GDP growth forecasts downgraded to around 1.5% for 2025, he said.

In addition, consumer confidence trended downwards, partly due to the proposed 2% VAT hike and general increase in the tax burden in the 05/06 Budget.

Golding noted that the hike in the fuel levy, instead of a VAT hike, is likely to stress already constrained household finances. “Apart from providing some debt relief for consumers in general, a reduction in the interest rate is a positive indicator for sentiment in the housing market, providing encouragement for those with existing mortgages or seeking credit to buy their first home.”

Golding pointed out that analysts arguing for a rate cut ahead of the MPC’s decision noted that at least 15 major central banks have cut interest rates since early-April, when the US administration triggered a wave of turmoil with punitive tariffs hikes which were subsequently temporarily paused.

“Given the weak state of the local economy and the benign inflation rate, the Reserve Bank appears to have followed the lead of these banks.”

The Bureau for Economic Research (BER) has suggested that it is a matter of time before the Reserve Bank introduces a lower inflation target, which will also discourage further interest rate cuts as the Bank attempts to anchor inflation expectations around the new, lower inflation target.

The governor said that the committee considered a scenario with a 3% inflation objective, which corresponds to the low end of our target range. “We will also consider scenarios with a 3% objective at future meetings,” Kganyago said.

While welcoming the rate cut, Samuel Seeff, chairman of the Seeff Property Group, believes it falls short of what the economy urgently needs.

The rate reduction – the fourth since mid-2024 – brings the prime lending rate from 11% to 10.75%.

Although a positive step, Seeff argued that the Reserve Bank missed a crucial opportunity to cut by 50 basis points, which would have offered greater relief to consumers and injected much-needed momentum into the economy and property market.

Seeff said that at this pivotal juncture, there is nothing more critical right now than economic growth and job creation. “Lowering borrowing costs would stimulate business investment and crucially, put more money back into the pockets of consumers, thereby boosting spending.”

“The property market currently still lags the pre-Covid volumes with the first quarter of this year disappointingly some 10% down compared to the same time last year.”

Nonetheless, Seeff said that with continued access to mortgage finance and areas seeing price growth where stock is tightening, there are positive signs for both buyers and sellers.

Rate Cut on Monthly Bond Repayments

(Based on a 20-year loan term at the new prime rate of 10.75%)

Bond AmountPrevious RepaymentNew RepaymentMonthly Saving
R750,000R7,741R7,614R127
R900,000R9,290R9,137R153
R1,000,000R10,322R10,152R170
R1,500,000R15,483R15,228R255
R2,000,000R20,644R20,305R339
R2,500,000R25,805R25,381R424
R3,000,000R30,966R30,457R509
R5,000,000R51,609R50,761R848

Seeff said that while the rate cut is welcome, more decisive action will be needed in upcoming MPC meetings to truly unlock economic growth and support South African households.

Calls for interest rate cut as unemployment worsens and economy falters

Amid a deepening jobs crisis and sluggish economic growth, Samuel Seeff, chairman of the Seeff Property Group, has issued a call for the South African Reserve Bank (SARB) to slash interest rates by at least 50 basis points at its upcoming Monetary Policy Committee (MPC) meeting.

His appeal follows the release of bleak unemployment data, revealing that 237,000 more South Africans lost their jobs in the first quarter of 2025.

The official unemployment rate has now climbed to 32.9% – up from 31.9% – with 8.2 million people unemployed. Under the expanded definition, that number rises to 12.7 million, representing 43.1% of the workforce.

This troubling trend is occurring against the backdrop of repeated downgrades to South Africa’s economic outlook.

Both the International Monetary Fund (IMF) and ratings agency Moody’s have cut their 2025 growth projections to just 1%, following a mere 0.6% expansion in 2024.

“The continued economic stagnation and rising unemployment is simply untenable,” said Seeff.

He warned that the SARB’s cautious stance on inflation is no longer justified, particularly as consumer price inflation fell to 2.7% in March – well below the Bank’s 3%–6% target range.

“The risks to the stability of South Africa far outweigh the Reserve Bank’s overly cautious approach to inflation concerns, especially since inflation has trended around the bottom of the Reserve Bank’s target range since late last year, falling to just 2.7% for March. This is below the target range.”

Despite declining inflation, interest rates remain 100 basis points above pre-Covid levels. Seeff notes that this persistent rate gap is among the highest globally, making it increasingly difficult for businesses and households to thrive.

“It should be noted too that the gap between the interest rate and inflation in South Africa is among the highest in the world, stifling growth.”

Seeff argued that prolonged high interest rates have severely hampered economic activity and weighed heavily on the property market.

He said the prolonged period of high interest rates has demonstrably hampered economic growth and placed significant strain on the economy and property market.

The recent marginal rate cuts have now proven insufficient to stimulate meaningful recovery within the property market with FNB recently reporting that sales volumes are still below pre-pandemic levels.

While global central banks begin to pivot towards easing, the SARB has remained on hold. The Bank of England and European Central Bank recently trimmed rates by 25 basis points. Although the US Federal Reserve opted to keep its rate unchanged, signs of progress in US-China trade relations – including a temporary tariff relief deal – have brought renewed optimism.

“We have recently seen the Bank of England and the European Central Banks cut their rates by 25bps. While the US Fed kept its rates unchanged, that was expected given the impact of the US-China trade war.”

On this front too, progress has been made with recent meetings between the US and China and a temporary tariff relief deal “That means the Bank’s primary justification for maintaining high interest rates have now diminished,” Seeff said.

“Inflation is below the target range, the global economy is settling, VAT has been scrapped, and after some volatility, the rand has stabilised. There is therefore no reason for the Bank not to step in with a meaningful rate cut of at least 50bps. South Africa can no longer wait, the time for action is now.”

Some economists echo Seeff’s sentiment and predict that rate relief may come as soon as May, although the consensus is for a cut later in the year.

Annabel Bishop, chief economist at Investec, expects the SARB to begin cutting rates in July and November, by 25 basis points each. “With CPI inflation expected to be at the inflation target midpoint of 4.5% y/y over the next two years, the time period the Reserve Bank’s MPC targets, further cuts in the domestic interest rate cycle are expected.”

Bank of America (BofA) economists are more optimistic, projecting that South Africa may see two consecutive rate cuts – in May and July -due to improved global conditions and easing inflationary pressure.

Casey Sprake, economist at Anchor Capital, believes that falling oil prices—driven by increased OPEC production – could provide the SARB with enough room to begin cutting rates immediately.

“While the next move by the cartel remains difficult to predict, the current lower oil price environment is clearly beneficial for South Africa. Given oil’s significant weighting in the inflation basket, we expect headline inflation to remain subdued in the near term, providing some breathing room for monetary policy,” Sprake said.

“As a result, we anticipate a 25 basis point interest rate cut at the upcoming Monetary Policy Committee (MPC) meeting in late May, followed by an additional cut at the subsequent meeting. However, from July onwards, we expect inflation to begin edging higher again, largely due to base effects.”

Economists agree that the SARB will weigh several critical factors before making its next move.

South Africa’s inflation rate dropped to 2.7% in March 2025, the lowest level since June 2020. This has been attributed to falling fuel prices and a moderation in education costs.

The Reserve Bank has revised its 2025 growth forecast downward to 1.7%, citing weaker domestic demand and ongoing supply constraints.

While global uncertainties remain, recent stability in currency markets and reduced trade tensions – particularly between the US and China – may support a shift toward monetary easing.

A rate cut in May could signal a turning point – or missed opportunity—for South Africa’s economic recovery.

Renovate or relocate: What you need to know

Deciding whether to renovate your current property or move to a new home is a personal choice, but it could have consequences when it comes to reselling the property, according to Samuel Seeff, chairman of the Seeff Property Group.

If you like where you stay and are not concerned about needing to recoup the costs of the improvements, then it is usually an easy decision.

If, however, you are improving with the view of adding value for a later resale, then you need to consider the costs versus the value that you will be adding, he says.

Renovations involve both cost and often, significant inconvenience. Property owners must therefore decide whether they are able to accommodate both.

In some instances, you may be attached to the particular property and would prefer to make a few upgrades rather than incurring the cost and effort of moving to a new home.

The property owner may also opt to renovate the existing home because it is in a convenient location, and they feel settled. A good, in-demand location also usually makes it easier to add value by improving the property.

A crucial initial step is to objectively assess whether the projected cost of acquiring a new property outweighs the financial implications of improving the existing property.

A cost-benefit analysis is the cornerstone of a sound property decision, said Seeff.

Well planned and properly costed renovations can enhance both your lifestyle and improve the value of your property. Owners should, however, guard against elaborate finishes which may not be everybody’s taste if they ever want to sell the property.

Renovations also often run over budget, and the owner may not be able to recoup all the cost on resale.

On the other hand, moving to a property which offers more space or updated features and finishes might be a more convenient and cost-effective alternative.

While the moving process itself involves costs such as agent commissions and transfer duties, the owner must weigh this up against the cost of renovating. It might also be that the renovations would not add the value compared to the value gained with the new property acquisition.

Many areas have ceiling prices which means that adding further costs might end up overcapitalising the property and you can therefore not recoup the costs on resale. This should then be weighed up against the cost of a new home.

SA inflation surprise leads to calls for interest rate cut

South Africa’s annual inflation rate fell in March to its lowest level since June 2020, primarily driven by an 8.8% reduction in fuel prices and a moderated rise in education fees.

Headline consumer inflation eased to 2.7% year-on-year from 3.2% in February, below the 2.9% expected by economists polled by Reuters, and outside the South African Reserve Bank’s (SARB) 3% to 6% target range.

This unexpected drop in inflation has led to increased speculation that the SARB may consider reducing interest rates in its upcoming monetary policy meeting. Analysts suggest that the central bank could lower rates to support economic growth, especially in light of global trade challenges and domestic economic conditions.

Despite the favourable inflation data, SARB officials have expressed caution. Governor Lesetja Kganyago has highlighted potential risks, including global trade tensions and domestic price pressures, which could influence the central bank’s decision-making process.

According to Samuel Seeff, chairman of the Seeff Property Group, the news is the clearest indication that the Reserve Bank needs to cut the interest rate without further delay.

Seeff, reiterating his call that the SARB missed the opportunity to cut the rate by at least 25bps in March, says a vital economic boost is now needed.

The rising oil price was a major factor in driving up the interest rate, and it has now declined by more than 22% compared to the same time last year (Brent Crude Oil at $68.44 vs $88.22 in April 2024 per tradingeconomics.com) despite the tariff-wars, he said.

The rand has also again stabilised at around R18.58, after the renewed volatility driven by the fears around stability of the GNU and the VAT debacle, providing further impetus for the Bank to cut the rate.

“The weak economic growth outlook must now weigh on the bank to cut the rate, especially in view of the IMF (International Monetary Fund) announcing that it has cut its predicted growth to just 1% – from 1.5% previously, said Seeff.

This clearly signals the urgent need for the SARB to step in to provide relief to consumers and the economy, he said.

The current interest rate level is still 100bps higher compared to the pre-pandemic rate in January 2020, and it is hampering the economy, the property expert said.

Seeff said the lower interest rate in 2020 showed the tremendous boost to the economy and property market over that period. “We can now clearly see the inverse effect of keeping the interest rate unnecessarily high for so long since with basically almost no economic growth of just 0.6% for the last two years respectively.”

He said that there is no need for the bank to wait. Seeff said it can in any event always step in if the need arises as was the case during the pandemic.

However, to restrain the economy and property market with a high interest rate is clearly having an inversely negative effect on the economy, and by extension, the property market.

Seeff said amid swirling global geo-political instability and tariff-wars, is a need for stability, and a vital economic stimulus.

“Investors need to know that SA is politically and economically stable with a focus on GDP growth and job creation. Being more responsive and providing an interest rate cut will boost confidence and provide a much-needed growth boost.”

Prior to March, the bank had implemented three rate cuts since September 2024.​

“I don’t think the Reserve Bank will cut rates in May at the next MPC meeting, despite conditions dictating that they should,” said Old Mutual chief economist Johann Els. “I think the Reserve Bank will remain wary of global risks.”

Avoid these 6 mistakes when selling your property

Avoid these 6 mistakes when selling your property

Every seller wants two things: to sell their property quickly and to get the highest possible price.

According to Samuel Seeff, chairman of the Seeff Property Group, achieving this requires more than just listing your home and hoping for the best. It’s about strategy, market understanding, and avoiding costly mistakes.

At the heart of any property transaction lies a natural tension — the seller wants top rand, while the buyer wants the best deal. Bridging this gap is the role of the estate agent, whose expertise is crucial in setting the right asking price and guiding both parties to a fair and successful outcome.

To maximise your chances of a smooth and profitable sale, steer clear of these common seller mistakes:

  1. Trying to Sell It Yourself: DIY selling might seem like a way to avoid commission fees and secure a higher price, especially if your expectations are above what the market might bear. However, Seeff warns that this often backfires. The process is time-consuming, involves unvetted buyers, and often leads to calling in an agent anyway. A professional agent not only vets serious buyers but also handles the legal and logistical complexities.
  2. Overpricing the Property: One of the biggest reasons homes sit unsold is that they’re overpriced. Today’s buyers are savvy and have access to countless online listings. If your property is priced too high, it will be skipped over — or worse, linger on the market and become “stale.” Ironically, this can lead to price reductions and ultimately a lower final sale price than if it had been correctly priced from the outset.
  3. Rejecting a Quick Offer: It’s easy to assume that a fast offer means the home was underpriced. In reality, it often indicates the price is on point or that market conditions are favourable. Agents frequently have pre-qualified buyers lined up, and a quick sale can save time and holding costs. Dismissing an early offer out of fear that the agent is pushing for a fast commission could cost you in the long run.
  4. Letting Emotions Cloud Judgment: Sellers naturally have emotional ties to their homes, especially after investing time and money into improvements. However, custom features and personal finishes don’t always translate into added value for buyers. Seeff advises sellers to view the transaction as a business decision — listen to the market and trust your agent’s guidance.
  5. Being Too Involved in the Sale: While enthusiasm is great, sellers who hover during showings can make buyers feel awkward or pressured. Buyers need to imagine themselves in the space, which is easier without the seller present. Leave viewings to the professionals — a seasoned agent knows how to showcase your home and vet interested parties effectively.
  6. Waiting for a Better Offer: There is an old adage in property which states that your first offer is often the best offer, said Johan Meyer from Seeff Pinelands who noted that waiting in hopes of something better can lead to missed opportunities. Just because you’ve received one offer doesn’t guarantee another will follow — or that it will be higher. Every serious offer deserves careful consideration.

Cape Town’s top suburbs see price increases of up to 93% in just 5 years

Sales of luxury trophy homes priced above R20 million reached a record high in the first quarter of this year, with the majority of these transactions taking place in Cape Town’s prestigious Atlantic Seaboard and Southern Suburbs, according to the Seeff Property Group.

Propstats data reveals that 53 high-value properties were sold, collectively worth over R1.6 billion, during the first three months of the year. Notably, half of this total came from just 25 sales in the Atlantic Seaboard area.

One standout sale was a luxury 383 sqm apartment in The Aurum, Bantry Bay, which fetched R65 million, sold by Seeff to a local buyer, said Ross Levin, licensee for Seeff Atlantic Seaboard.

Seeff completed nine high-value sales in the quarter, and Levin notes that wealthy buyers are viewing Cape Town property as a reliable store of wealth.

Properties are selling faster than ever, with sole mandate homes averaging only five weeks on the market.

Adrian Mauerberger and Bryan Ginsberg report that the majority of buyers are local, though there remains significant interest from the semigration market. The location and lifestyle are drawing buyers from across the globe, the agents noted.

“We’re witnessing an influx of locals as well as buyers from Gauteng, KZN, the UK, and Germany, with many paying in cash.”

Other notable sales include three homes in Camps Bay for R45 million (local buyer), R21 million (German buyer), and R33.75 million (UK buyer, shared sale).

Additionally, properties in Fresnaye sold for R20 million and R23 million (both local buyers), while the Waterfront saw sales of R29.5 million (local buyer), R33 million (KZN buyer), and R29 million (German buyer).

Luxury Suburbs Ranked by Average Price for Q1 2025:

SuburbPrice in 2025 (R million)Price in 2020 (R million)Percentage Change
CliftonR42 millionR37 million+13.51%
BishopscourtR24.65 millionR15.84 million+55.6%
Camps BayR24.14 millionR13.18 million+83.2%
LlandudnoR23 millionR20.06 million+14.7%
WaterfrontR21.61 millionR11.20 million+92.9%
Bantry BayR21.58 millionR20.45 million+5.5%
HiggovaleR21.51 millionR22.51 million-4.4%
ConstantiaR21.07 millionR12.565 million+67.7%
FresnayeR17.4 millionR15.07 million+15.5%
OranjezichtR16.56 millionR9.97 million+66.2%

Source: Propstats/Seeff – Average Price 2025 vs 2020

Seeff also recorded six high-value sales in the Southern Suburbs, primarily in Bishopscourt and Constantia Upper.

Francois Venter, lead agent for Seeff in the area, reports a healthy mix of both new and old listings selling, with his team securing six significant transactions.

These include a vacant plot in Bishopscourt sold for R20.25 million (local buyer) and several homes in Constantia, including sales for R42 million (Polish buyer), R24.7 million (German buyer), and three local sales at R36 million, R31 million, and R20.5 million.

“We’re seeing tremendous confidence in the property market right now,” said Venter. “Cape Town remains the only city in the country that regularly ranks among top global destinations for visitors and property value growth.”