Literally, every sales transaction was halted or cancelled when the pandemic struck, and while we have salvaged some, many sizeable transactions are lost, comments Anthony Mcguire, licensee
for Seeff eSwatini. eSwatini is now a super buyer’s market for various reasons and
sellers need to be cognisant of price as even the “traditional” buyers in the R2 million to R3 million range remain cautious.
There is good activity at the lower (under R1.6 million) and upper end and in the commercial and industrial space, he says further. Business has remained resilient with many industry leaders whose cash flows were relatively unaffected by the pandemic taking advantage of the opportunities in the market.
The rental market seems to be recovering with a slowdown of the high default rates, but with foreign nationals have left the country or had contracts put on hold, premium rentals have declined. For landlords, it is now important to hold onto good tenants and where necessary, halt escalations, or consider rental reductions, especially since rates have remained relatively high contrary to expectation.