The demand for affordable housing in South Africas traditional township areas is driving the township property market boom.
According to data, it has recently been found that first-time buyers are snapping up township homes, with 65% of registered bonds falling within the R750,000 price range.
This surge in demand is a significant shift towards affordable housing options, indicating a growing need for access to affordable housing.
Trendy areas in GautengLess than 14% of BetterBonds registered bonds in township areas between January and May this year were above R1 million, and only one was more than R2 million, said interim Chief Executive Officer of BetterBond, Bradd Bendall.
This data suggests that the majority of buyers in these areas are price-sensitive and seeking affordable options.
