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IOL News
26-06-2025
- Business
- IOL News
Bridging the gap: essential insights on property ownership for young black South Africans
Many black citizens have been denied the opportunity to fully understand the benefits and pathways to property ownership. The reality is that many segments of South African society have been historically disadvantaged when it comes to access to property ownership and understanding how it can be used to build generational wealth, says Stefan Botha, the Director at Rainmaker Marketing, in response to an enquiry from "Independent Media Property". Many younger black South Africans were unable to learn about property ownership from their parents, as it had not been a legal or practical option for previous generations. As an example, he said black South Africans were officially allowed to own property throughout the country in 1991 with the repeal of the Land Act and the Group Areas Act. He said that consequently, property ownership was rarely, if ever, discussed around the dining room table. 'This remains a significant issue in South Africa. Many citizens have been denied the opportunity to fully understand the benefits and pathways to property ownership, and we must work to change that. "One major consequence of this history is a widespread lack of understanding about good versus bad debt. As a result, many South Africans are heavily burdened by debt and have little disposable income, often due to acquiring short-term debt for cars and luxury goods. "This puts both individuals and the broader economy at a disadvantage,' Botha said. Last week, "Independent Media Property" reported that many young people do not understand the mechanics of buying or investing in property or how to plan financially for long-term ownership. Tsekiso Machike, spokesperson to the Minister of Human Settlements (DHS) Thembi Simelane, said the country must enhance financial literacy and property education, "therefore, incorporate property and financial literacy into high school and tertiary curricula". Machike said the country must also encourage entrepreneurship in real estate. 'Youth entrepreneurs in real estate are underrepresented but can unlock job creation and innovation in the sector.' The department said youth representation in South Africa's homeownership and property sectors is currently limited, adding that there is a noticeable shift towards investment-focused property purchases. 'Economic challenges remain a significant hurdle, but initiatives and advocacy efforts are emerging to support and empower young individuals in these sectors.' The ministry, which facilitates the creation of sustainable human settlements and improved quality of household life, said there is also a need to improve access to financing; promote First Home Finance to be more accessible, better publicised and easier to navigate for the youth, since many youths are excluded from traditional lending due to low or irregular incomes, lack of credit history or student debt. The property and lifestyle marketing agency said that a key aspect of this problem is that people often over-extend themselves financially by taking on the wrong kinds of debt, which leads to poor credit records. It said this creates a vicious cycle, making it even harder for individuals to enter the property market. There is also a critical need for greater education around improving and rebuilding credit scores and financial histories. This kind of knowledge is essential to helping more South Africans qualify for property financing in the future, it added. Botha, an experienced property expert, said he believes the responsibility lies with both the private sector and the public sector in working together to drive meaningful change in the local property and economic sector. He said from a private sector perspective, education around property ownership is absolutely critical. 'It starts with helping people understand the basics of property ownership - how debt can be acquired, how it works and how it can be used as a tool to build long-term wealth through property.' He said that from a public sector perspective, there needs to be a more unified and coordinated approach to promoting property ownership across South Africa. 'In my view, the government can play a much greater role in supporting and funding initiatives that provide property education and access, ensuring these efforts are rolled out nationally and reach all market segments.'
The South African
26-05-2025
- Business
- The South African
2 seaside towns in SA where households earn R100K on average
A 2025 property market report by Rainmaker Marketing has highlighted some areas in South Africa, and seaside towns in KwaZulu-Natal (KZN) in particular, as highflying property areas. According BusinessTech , the report showed that average monthly household income in the seaside towns of Salt Rock and Ballito along KZN's beautiful Dolphin Coast has increased to over R100 000 per month. This indicated an increase by an average of 645% and 504%, respectively, showcasing Salt Rock as the top performing town in terms of income growth in the region. The report also revealed that in Salt Rock, average monthly household income rose from between R12 500 and R25 500 per month to a whopping R115 000 – R145 000 per month, the highest growth recorded in the region. Ballito followed closely behind, with monthly household income increasing from similar base levels to R91 500 – R124 000 per month. Salt Rock also now has a concentration of 70% of its households in the 'wealthy' and 'super-wealthy' brackets. While Ballito has 50% of households classified in the high-income categories and the rest spread across upper-middle and middle-income groups. 'The increase in average household income indicates consistent improvement in living standards and wealthy individuals moving into these areas,' the report stated. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1. Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
IOL News
08-05-2025
- Business
- IOL News
KZN North Coast sees massive population and income growth: what it means for property investors
uMhlanga and Ballito are becoming premier luxury living destinations for high-net-worth individuals, driven by stunning coastal views, exclusive properties, and a vibrant lifestyle. Image: Supplied The "North Coast Property Market Report" reveals that there is a massive population and income growth across key regions that include Ballito, KwaDukuza Non-Urban (NU) and Salt Rock. The report recently launched by Rainmaker Marketing noted that with record numbers of high-income families, professionals, and retirees relocating to the area-and developers racing to meet demand with large-scale residential estates-the report offers timely, data-backed insights into who is buying, where they're settling, and what is driving long-term demand within this coastal property hotspot in South Africa. Rainmaker marketing director Stefan Botha stated that their latest report demonstrates the agency's emphasis on high-growth regions and providing investors, developers, homeowners, and buyers with resources to understand changing market trends. This empowers them to make well-informed choices in the dynamic property market. 'Our quarterly reports are designed to bridge the gap between data and opportunity, offering research-based insights that help stakeholders across the property ecosystem unlock the true potential of powerhouse regions like the North Coast,' Botha said. The latest report reveals that since 2011, approximately 290 adults (close to 200 families) have moved into the region each month. Salt Rock is said to have seen an extraordinary 208% increase in its adult population. However, the agency said the deeper story lies in the profile of those relocating. Botha explained, 'It's a combination of young professionals, families, empty nesters, active retirees and first-time homebuyers. What they all have in common is a desire for security, access to top-tier schools, lifestyle value, and community-centric living.' These demographic shifts are echoed in the financial data. Salt Rock's household income has increased by more than 600% since 2011, and 70% of homes in the suburb are now classified in the wealthy or super-wealthy brackets. Botha said the key takeaway here isn't just based on the influx of people moving to this region but rather about a higher calibre of buyer driving deeper demand for quality estates and amenities. In Salt Rock, 57% of the stock is located within estates. Some of the residential estates contributing to this statistic include Seaton Estate, Elaleni Coastal Forest Estate, Zululami Coastal Luxury Estate alongside other established estates that continue to hold strong market positions-including Simbithi Eco-Estate and Brettenwood Coastal Estate. Ballito remains a consistently high-performing node, with developments such as Ballito Hills, Zimbali Lakes Resort and Zimbali Estate maintaining strong appeal. KwaDukuza NU is also gaining traction among first-time buyers and professionals looking for long-term value and lifestyle quality, as seen in the popularity of estates like Ballito Village, Bliss Ballito, Lalela Estate, Springvale Country Estate and Palm Lakes Family Estate. The report noted that estate living continues to command a premium. Sectional title properties located within estates have significantly outperformed those located outside of estates-exceeding them by 64% in Ballito, 62% in Salt Rock and 38% in KwaDukuza NU. 'We're seeing that buyers are cleverly willing to pay more for the security, lifestyle amenities and sense of community that come with estate living,' Botha said. This report sheds light on sales trends, noting that while the period between 2021 and 2022 delivered the strongest overall results, more recent data points to Salt Rock as a standout performer. Over the past year alone, the area accounted for 47% of all property sales in the region, with transactions rising from 552 in 2023/2024 to 665 in 2024/2025, largely driven by transactional activity in Zululami Estate, Simbithi Eco-Estate and Seaton Estate.
