Property – a key investment during and post COVID-19

The impact of the COVID-19 pandemic has been seen across all factors of life, from employment to the way we socialise. While it has been a difficult time, there have been various positive realisations regarding how we want the future to go. The need to prioritise communication with loved ones, cultivate hobbies and most importantly, having a home you love spending time in.

The financial implications of COVID-19 have led to the South African Reserve Bank (SARB) making changes to the interest rate, resulting in the lowest interest rate in almost 50 years. This has resulted in the relief of some economic burden on debtors, however proved to be unfruitful for many individuals that hold funds in interest affected accounts, leading to the consideration of other options to grow their money. In light of this, property investment has become the primary choice to take advantage of during this period.

The interest rate has also affected the way in which we borrow funds, giving you greater freedom on bond repayments and consideration into property you might have not thought possible before. “68% of Ooba’s home loan applications were for 100% bonds, with an approval rate of over 80%. New investors are now looking to breakout into the property market while seasoned investors are taking advantage of investment opportunity in strategic locations for higher rental yields,” shares Rhys Dyer, CEO of Ooba.

Lifestyle changes have been implemented with the surge of work-from-home programmes and an increase in online shopping, resulting in many individuals requiring bigger spaces or proximity to essential facilities. Boasting an ideal location, lifestyle and price-point, Ridge Town Central provides the ultimate property investment opportunity within the sought-after Umhlanga Ridge Town Centre area.



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All relevant information regarding COVID-19 can be found on https://sacoronavirus.co.za/