It remains one of the best times in decades to buy property, says Samuel Seeff, chairman of the Seeff Property Group.
The key driver of the market, he says, is the five-decade low interest rate which currently provides about a 30% saving on borrowing costs. At the same time, the banks are still keen to lend and first-time buyers can find favourable conditions.
In this episode of Business Talk with Michael Avery, Seeff talks through the challenges of having to change an industry that is traditionally face-to-face, into a digital one.
He walks Michael through some of the property trends South Africans can expect in the coming year, for both buyers and sellers, across the country.
Seeff says that the curve ball thrown by the arrival of Covid-19 has seen a big change in the industry as a whole, and mostly for the good. “What we have seen, and what we have done, is move in the space of eight – nine months what might have taken us three to four years.”
He believes many of these technological changes are expected to remain in the group as employees have changed their skill sets.
The full interview is embedded below. You can find all the Business Talk with Michael Avery interviews here.