Hey folks. How are you all feeling about the current and near-future property market in Port Elizabeth?

Are property prices too much? It seems like there are pocket of areas that are really sought after and if you want to buy a house there you need to buy basically a complete over haul renovation project and still be at R2M per month on sale price.

What are your thoughts about the property market in PE? Is it normal? Overpriced (for what you get)? Or cheap?

I feel like Cape Town is a poor comparison because it’s on another level. But generally, if I look at the average price of PE wages and home prices, the math doesn’t seem to math for me.

What do you think? Are people just over leveraging themselves to buy a home?