Is owning a home really a distant dream for South Africans? Here is why industry insiders say no

Many South Africans are feeling increasingly disconnected from the dream of owning their own property, but knowing how, when, and where to enter the market is more important than the cash in hand. Renting offers flexibility, short-term manageability, and a lifestyle stop-gap that may be necessitated by modern factors. Yet research shows almost 90% of tenants in South Africa would rather own their properties.

The cost of living, political uncertainty at home and abroad, as well as fluctuating career prospects, have made making the right decisions as early as possible as important as ever. No security without ownership The most recent Ipsos study on home ownership perceptions showed that South Africans were more optimistic than those surveyed internationally, with only 38% of local tenants believing they would never be able to afford their own property, compared with 56% globally. This still translated to an unfavourable perception among the youth, with 72% believing it was easier for previous generations to find a good home, citing higher property prices, high interest rates, and high taxes.

Crucially, 89% of tenants said it would be preferable to own their properties, with 74% believing it was difficult to attain true financial security without owning your own home. “Renting pays for the right to occupy a property for a specific period, whereas a bond repayment also includes a reduction of your home loan balance, giving you the opportunity to build equity in your home,” Michael Coulter, Head of Product Economics at Standard Bank Home Services, told The Citizen. Early steps, big rewards Acknowledging that not everyone was at the point in their financial and personal journeys to want or need the commitment of ownership, he noted that the average age of first-time buyers had dropped from 41 in 2020 to 38 in 2025.

But aspirant homeowners are advised to look beyond the statistics and consider their own circumstances and financial ambitions. “Potential buyers have this idea of a home that they want to have, but that dream home might only be 10 to 15 years down the road. “If you buy what is suitable now, you build up equity so that when you buy your dream home the second time round, you have the equity to fund you into that second purchase,” said Coulter.

He urged buyers to understand the potential of an entry-level property, taking into account the state of the m… Many South Africans feel increasingly disconnected from the dream of owning their own property, but knowing how, when, and where to enter the market is more important than having cash in hand. “Starter houses tend to maintain value quite well because they are in a marketable section of the housing market.