South african property price rises to slow down

South African property price rises are forecast to slow down this year, according to Fitch Ratings.

The credit ratings agency's latest report predicts that despite strong growth of 10 per cent in the past two years, South Africa's booming real estate values will soften in 2014. Demand remains high, notes Property Wire, but subdued economic growth and a lack of increase in disposable income will hold back house prices.

Property prices are expected to grow at approximately 6 per cent per year for the near future.