South Africa’s House Price Bubble
The property market is getting depressed in most places. Now South Africa which has exprienced a boom in propoerty prices is starting to feel the pinch.
“House price growth peaked at more than 35% near the end of 2004 and has been declining ever since as property became relatively expensive and demand dropped off.”
Its not just SA suffering, Austrailia too is expriencing negative equity. First to loose out was Sydney and now Brisbane is expriencing negative equity. America is also reeling with prices falling.
Zimbabwe seems to be one of the few one with prices on the up (I mean in real terms) and this trend is likely to continue. Because of hyperinflation investors have been buying property
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