Golf Estates Decline In Value

Here's a first. An article actually talking about a decline in property prices.

Golf estate prices in the rough
Five years ago golf estates were setting new price records in South Africa. However, that seemingly insatiable appetite for big-ticket properties in luxury developments appears to have waned somewhat, with price growth in many of the more established golf estates slumping to less than 10% over the past year.

The recent slowdown from the dizzy heights seen two to three years ago has admittedly been off a high base. Nevertheless, latest house price data of the Knowledge Factory's SA Property Transfer Guide (SAPTG) shows that in some estates prices have even dropped.

But property only goes up!?!