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Johannesburg - Black property ownership has increased by more than 63% in the past decade, according to a report in Sake24 on Monday.
Thirty-six percent of all property owners now registered with the deeds office are black, read the report, quoting data released by Lightstone Risk Management.
That is an increase of 63.4% over the past 10 years. Also, 47% of first home buyers currently are black.
Kura Chihota, CEO of Leapfrog Property Group, which would soon open offices in Khayelitsha and Soweto, said most transactions by black home owners were in townships.
Only about 10% of black buyers bought new developments and only 2.4% bought property in expensive areas, Chihota told Sake24.