According to Lightstone, residential buyers are opting for sectional schemes and estates in greater numbers as security, convenient living and greater availability across price bands drive sales.
“Sectional schemes and estates make up less than 20% of South Africa’s more than 7 million registered residential properties, but account for 30% of their value,” said Hayley Ivins-Downes, head of digital at Lightstone.
While estates make up just 7% of the properties – between 430,000-460,000 properties in 5,000 estates – the category accounts for 17% of the market’s value.
