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David Chiwetu

16 July 2019

English

Alison Tshangana

Report

Centre for Affordable Housing Finance in Africa

South Africa

Downloads

Website References

Housing finance

Human settlements

Land

Markets

Nelson Mandela Bay

Property market

South Africa

Tenure

Urban

Nelson Mandela Bay Housing Market Report - 2018

As part of our series of reports on the eight metros in South Africa, this report on the residential property market in Nelson Mandela Bay Metro, Eastern Cape, provides a detailed analysis of government-sponsored properties, freehold and sectional title homes, new and resale transactions, lending, and first-time homeowners.

With a residential property market valued at R125.1 billion in 2017, over half (69%) of Nelson Mandela Bay’s residential properties are valued R600 000 or less. 42% of NMB’s residential properties are government-subsidised which represents the largest share of all the metros. The contribution of government housing programmes is evident in the entry market where 74% of houses are GSP. Of the  143 houses valued below R300 000 that were newly registered in 2017, 98%  were government-subsidised properties. Furthermore, there were 771 government-subsidised houses sold in the entry market in 2017, constituting 68% of the resale transactions in this market segment.

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