Share of property sales in South Africa 2016-2022, by purchase band

In 2022, the majority of property transactions in South Africa occurred among the purchase band ranging from one million to three million South African rand (around 54,523 to 163,570 U.S. dollars) at 35 percent. This presents a significant increasing trend since 2016. In contrast, the 500 thousand South African rand (27,262 U.S. dollars) purchase band decreased considerably from a share of 42 percent to 31 percent in the period under review.
This indicates that the challenging economic conditions, likely exacerbated by the COVID-19 pandemic, have negatively affected those within the purchase band of 500 thousand South African rand and under. However, it has had a rather positive effect on the one million to three million South African rand purchasing group.