Tshwane 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 the City of Tshwane, Gauteng, (commonly known as Pretoria) 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 R501.1 billion in 2017, nearly half (49%) of Tshwane’s residential properties are valued R600 000 or less, and 23% of Tshwane’s residential properties are government-subsidised. In 2017 there were just 7 054 new properties added to the Deeds Registry, compared to 18 244 resale transactions in that year.
Notably, growth in the number of properties at the lower end of the market is almost entirely due to government housing programmes: of the 2 161 new residential properties valued below R300 000 that were registered in 2017, 93% (2 002) were government-subsidised properties (GSP). The report also indicates that 101 285 GSP, or 79% of all GSP on the deeds registry in Tshwane, are more than 8 years old and are thus eligible to be sold legally as part of the resale market.