Joburg property values not justified by the market, estate agents say
Market is stagnant and increase in Joburg’s property base is likely to be an attempt by the city to boost its coffers, they say
06 February 2023 - 05:06
Real estate companies, weathering a depressed market in SA’s richest metro, Johannesburg, are disputing the general valuation roll for 2023, which shows the property base rose 12% to R1.59-trillion in the past five years.
They say such a rise is impossible in the prevailing economic and market conditions. It comes amid suggestions that the city is artificially inflating the value of properties to make up for revenue shortfalls...
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