The bank’s survey data shows that ‘downscaling because of life stage’ dominates as the most prominent reason for selling a property in South Africa, with such sales accounting for 23% of all sales in the second quarter of 2019.
GBP/ZAR Exchange Rate Edges Higher on SA Economy Woes
The Pound South African Rand (GBP/ZAR) exchange rate rose by 0.2% today and is currently trading around R17.7236 on the interbank market. The South African Rand (ZAR) fell against the Pound (GBP) today despite yesterday’s South African business confidence index figures for June, which rose from 93.0 to 93.3.
South Africa has just eased visa access for seven countries – including New Zealand, which had a controversial tit-for-tat visa imposed on it back in 2016.
According to reports from emigration assistance groups and local banks, South Africa is experiencing a sharp rise in people emigrating. Pew Research estimates that at least 900,000 people born in South Africa were living in other countries in 2017, with many of these people being skilled and educated.
President Cyril Ramaphosa shared an optimistic lookout on the future for the Business and Government sectors within South Africa, at his State of Nation Address (SONA) on 20 June 2019.
