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Biggest obstacle for SA residential property market this year will be unemployment, expert predicts

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The struggling economy means lower house price growth. (Getty Images)
The struggling economy means lower house price growth. (Getty Images)

The biggest obstacle for South Africa's residential property market in 2021 will be a predicted increase in the country's already very high unemployment rate in the wake of the Covid-19 pandemic, according to Berry Everitt, CEO of the Chas Everitt International property group.

He expects the number of distressed sellers to increase this year, bringing more inventory to the market, along with landlords who have been struggling for months with non-paying tenants and have now decided to offload some of their rental properties.

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