South Africa's residential property sector has seen a decline in home loan applications as high interest rates push them out of reach for more consumers. But industry players foresee a recovery this year, albeit a slow one.

“The property market is very much led by interest rates and confidence and I think over the last year both of those moved against the market,” Rob Kelso, CEO of SA Home Loans, South Africa's biggest nonbank mortgage lender, told Business Times. ..

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