Thinking of investing in property? It’s not the craziest idea – and you’re not alone. We may be living through an economic downturn thanks to the pandemic, but record 50-year low interest rates and more houses on the market make this a good time to buy.
Data published by FNB on Tuesday showed that the commercial bank saw an incredible 46% increase in the number of consumers who purchased a second property in the fourth quarter of 2020, compared to the fourth quarter of 2019, Daily Maverick reported. First-time homebuyers are also on the rise. As Daily Maverick puts it, it’s a bright spot in an otherwise fragile economy.
This article appeared as part of The Wrap, 8 April 2021. Sign up to receive our weekly updates.