Benaters sees increased property transfers as SA’s prime lending rate drops to 11.25%

Benaters sees increased property transfers as SA’s prime lending rate drops to 11.25%.

JOHANNESBURG, GAUTENG, SOUTH AFRICA, December 11, 2024 /EINPresswire.com/ -- Benaters, a leading property conveyancing law firm, has reported a surge in property transfer activity as South Africa’s prime lending rate continues to decline. With the current rate standing at 11.25%, homebuyers and investors are seizing the opportunity to secure affordable borrowing terms before anticipated further cuts.

Buyers Moving Fast to Secure Low Rates
“As the prime lending rate fell from 11.75% in May 2023 to 11.25% now, we’ve seen an influx of inquiries from homebuyers eager to act before rates fluctuate again,” said Shaun Benater, Partner at Benaters. “Market conditions favour those ready to move quickly, and having a conveyancing attorney lined up ensures that transactions are completed efficiently.”

Benaters has noted a particular increase in demand from first-time homebuyers and property investors who want to capitalise on favourable lending conditions. With projections suggesting the rate could drop even further by mid-2025, more buyers are entering the market, confident in the potential savings on interest payments over the life of their mortgages.

Efficiency and Transparency in a Fast-Paced Market
Benaters conveyancing attorneys offers a streamlined process to handle residential and commercial property transfers, sectional title schemes, and deceased estate transfers. The firm’s free Conveyancing Fees Calculator gives buyers a clear breakdown of costs based on property value, helping them plan their budgets with confidence.

“Our goal is to eliminate uncertainty in property transactions,” said Roxanne Benater, Partner and Conveyancer at Benaters. “Tools like the Conveyancing Fees Calculator ensure transparency and clarity, making it easier for clients to understand the costs involved and proceed without hesitation.”

Anticipated Rate Cuts: A Window of Opportunity
With economists predicting further cuts in the prime lending rate, buyers have a limited window to secure properties under current conditions. As borrowing becomes more affordable, the property market is expected to remain buoyant through 2025.

“Buyers who act now can potentially save thousands in interest payments,” added Shaun Benater. “Being prepared with a conveyancing attorney allows them to take swift action and avoid missing out on this favourable market.”

About Benaters
Benaters is a trusted Johannesburg-based conveyancing law firm with over two decades of experience in South African property law. The firm is known for its meticulous approach, client-focused service, and commitment to handling property transactions smoothly and professionally.

J MARANEY
Top Click Media
+27 11 440 6268
info@topclick.co.za