Most South African property buyers are now buying small houses rather than big luxury homes.
Lightstone data and analytics director, Paul-Roux De Kock, says economic pressure is the major reason for this change.
If you look at the trends on the new stock coming on the market for the first time, the high value and luxury markets is down from about 5000 new stock per quota to about 4000 a year, the mid value market is relatively stable and the low value market is up from about 9000 to 10000 per quota.— Paul-Roux De Kock, Lightstone data and analytics director
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This article first appeared on 702 : South Africans are buying smaller houses - research