Commercial property hit hard by rising interest rates
Commercial property market is already experiencing slowing demand for property and mortgage finance
28 May 2023 - 16:10
Thursday’s interest rate hike is likely to place further strain on the commercial property market, which is already experiencing slowing demand for property and mortgage finance.
The Reserve Bank raised its benchmark repo rate by 50 basis points (bps) to 8.25%, meaning the prime rate — which commercial banks charge for retail customers — will rise to 11.75%...
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