Economists agree that as the global recession takes hold and economic growth comes under threat, interest rates are set to drop spurring a revival in South Africa's property market by early 2010, writes Michael Appel.
While the United States sub-prime mortgage collapse plunged the global economy into a liquidity crisis, South African banks, considered to be some of the most secure in the world, were hardly affected.
The National Credit Act (NCA) which came into effect on 1 June 2007 made getting a loan from any bank more difficult than in the past.