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During the early 90's due to the changes in South Africa people took early retirement and many of them came to settle here as the Jeffreys Bay Property market were well known for its many characteristics.
Later in 1998 the interest rates soared to 25% and the residential sales became very slow, but at the same time people who had money invested, got high returns and could buy properties for relatively low prices from those who had pressure from their bond repayments.
Between 2000 and 2005 the market became very vibrant, in hind sight now we learned that news about the new credit act made banks soften their criteria to sell as much money/bonds as possible before the new credit act will dampen lending.
The value of property increased up to 4-fold during this period.
Then in 2007 the global financial crisis, triggered by Lehman Brothers hit the market, and values of Jeffreys Bay property were halved on average.
The end result was that property values calculated from 2000 to 2010 increased 4-fold and from 2007 - 2010 it was halved - in general, which still meant the nett effect was that it doubled in the 10 year cycle from 2000 - 2010.
Since 2010 it bottomed out and started to slowly increase in value .
The security complexes and neighbourhoods started to get more interest and values inside these developments started to increase in value faster than the general residential areas.