The property market could be seeing tough times for a few but the elite few are having a blast. There is no reason to get bent out of shape about it however, this is not exactly a new sort of situation concerning the property.
South Africa is not unique in this respect, it's called survival of the fittest and it is happening all over the place. To know about bamako real estate visit https://www.myafric.com
The costs of property have dropped down since people still can not afford luxuries, despite the assumed recovery from the depression, but wages have not precisely skied rocketed either.
What this means in practical terms is that the middle class and the lower class are fighting to keep their property – or selling off it outright.
The banks are not big on making loans right now, or at least not the sort of loan that you would want to accept who's scoring each the property?
You guessed it! The usual suspects, the famously wealthy are scoring once again as the rates are low (in relevant terms) and they do not have to take out loans to make a purchase.
The tendency here is to allow them to purchase all of the property which they can at a significantly lower cost, wait for the market to stabilize and sell them off in a massive profit, or just rent them out to the identical outcome.
The rich get richer and the poor stay ever poor. Once again though, this is only survival of the fittest and nothing to get upset over.