Boardroom Talk – Comfirmed: Joburg house prices fell the most of 219 cities since 2018

By Alec Hogg

Having sold our Joburg property last year, I'm painfully aware of how property prices in SA's commercial hub have fallen. Now comes confirmation that it's worse than even I imagined: over the past five years, my long-time hometown has posted the biggest house price drop of 219 global cities surveyed by UK-based Online Mortgage Advisor.

To compare apples with apples, the researchers compared how many square metres a local could buy in a one-bedroom apartment with 2022 and 2018 average take-home pay. The table above shows the average Joburger's salary bought 23.2 sq/m in 2022, up from 14.6 sq/m five years earlier — the most significant difference of any city surveyed.

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