The consequences could be catastrophic for nearly 65% of the real estate agencies in the country.
It seems that more and more Saffas are keen to give up the big city hustle and grind for a slower life in a small town.
A single property has sold for R200 million in Greyton in the Overberg, setting an all-time record high for agricultural real estate sales in the Western Cape.
“Horrible, horrible, horrible,” is how the seller of a lavish Bel Air mansion described the recent auction.
The luxury property market in South Africa has taken a dive, which is bad news for property sellers but good news for bargain hunters.