Repo Rate increased once again
The global economic and political climate has put immense pressure on the international supply chain of resources. This pressure has meant that Inflation continues to be a concern which is one of the many factors the Monetary Policy Committee took into account when increasing the repo rate by 25 basis points. This leaves the repo rate at 4.25% and the prime lending rate at 7.75%, 2.5% below the highs of 2019.
"This expected interest rate increase is unlikely to have much impact on the property market in the Western Cape, which is very active. There is growing interest from other parts of the country through semigration as well as international buyers who still see tremendous value in Cape Town and the surrounding areas. With interest rates still at low levels we expect the property market to continue to perform well through 2022" says Mike Greeff, CEO of Greeff Christie's International Real Estate.
24 Mar 2022
Author Greeff Properties
