Harcourts South Africa welcomes the announcement by The South African Reserve Bank (Sarb) to cut interest rates by a further 25 basis points, creating a rare opportunity for real estate investors and buyers in general. This takes the total cut in 2020 to 300 basis points, lowering the repo rate to 3.5% and the prime lending rate to 7%. The lowest rate implemented by the Bank in almost 47 years.
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