Interest in property in Johannesburg maintained throughout June

Activity in the residential property market in Johannesburg remained buoyant in June and during the World Cup, according to the latest property show day attendance figures.

The report, which was released by Johannesburg estate agent Vered Estates, contradicted many other estate agents' predictions that interest in property would slow down during the World Cup.

During the month, the company recorded an average of 12.4 visitors per show house. This is slightly higher than the 12.3 recorded in May.

The highest number of visitors to a single show house on any one day in June was 32, according to the data.

Jonny Novick, managing director of Vered Estates, said: "The successful hosting of the tournament means that primarily South Africans are a lot more comfortable making long term capital investments in South Africa."

According to South African property researcher Rode's Report on the State of the Property Market, due to the low loan-to-value ratios traditionally enforced by South African banks, landlords in South Africa are generally under little duress to sell.

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