Money Matters: Why it is so difficult for young people to buy property

The best property advice for young South Africans at the moment is to stay with family to rent property.

This is according to Igshaan Higgins, Attorney at De Klerk & Van Gend Attorneys, as it becomes increasingly difficult for South Africans who are under the age of 40 to buy property.

It has recently been suggested that the average first time property buyer in South Africa is now in their early forties.

Higgins spoke to #NightTalk's Gugs Mhlungu to contextualise the difficulties of buying property in South Africa today.

Listen to the conversation below:

In 2014, the Minister of Human Settlements was adamant that government won't give free housing to people under the age of 40. That leaves out a huge chunk of people that will be recipients of free housing

Igshaan Higgins, Attorney at De Klerk & Van Gend Attorneys

When young people go to banks, there is a lot of issues they need to get around when buying a house

Igshaan Higgins, Attorney at De Klerk & Van Gend Attorneys

Even the rentals at the moment are becoming astronomical

Igshaan Higgins, Attorney at De Klerk & Van Gend Attorneys

Are there any young people earning 40 000 rand per month, to afford a million rand house?

Igshaan Higgins, Attorney at De Klerk & Van Gend Attorneys

Single story housing is becoming a problem. Cities should cut the red tape for creating two and three story housing

Igshaan Higgins, Attorney at De Klerk & Van Gend Attorneys
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