How many people in South Africa own a property?

There are over 17 million estimated properties in South Africa in 2021, showing an increase in the number of property owners in the country living in formal dwellings.

South Africa is one of the most impoverished countries in the world. As a developing country, South Africa has a long way to go to achieve a strong and inclusive economy where poverty is eradicated, and all citizens are part of and contributing to the country’s economy.

Many South Africans are still living on the streets with no shelter to call home. While the number of households/properties have increased over the years, this still does not account for those who cannot afford to put roofs over their heads and that remain confined to the streets and to poverty.

Owning property in South Africa

To own property or to have any form of accommodation to call home in South Africa is a huge blessing when you look at the vast amount of people who lack this. South Africans have a right to shelter and access to basic services supplied to their homes, but this is something that is still an issue for some even with a place to call home. Some people still have a scarce supply of basic services in their homes, which only adds to the struggle of trying to live a decent life. But how many people in South Africa actually own property?

How many people in South Africa own a property?

The South African Constitution clearly states that every citizen has a right to access to adequate housing and basic services but, with the state of the economy and the increased costs of living decently, it has become quite difficult for people to own property in South Africa. People are struggling to maintain their lifestyles financially and are finding themselves sunken in accumulated debt from increased expenses, which makes it more difficult for them to purchase and own property since financial organisations check if someone can afford to buy and own property amongst other things.

Checks are conducted in line with the National Credit standards and due to increased debt, the weak economy, and the lack of employment, banks are extra weary of who they allow to secure property in their name.

According to the latest Statistics South Africa General Household Survey of 2021, the estimated number of households increased from 11.2 million in 2002 to 17.9 million in 2021. This could mean that more South Africans have shelter and possible access to the basic services that they need in their living spaces. The Gauteng province was said to have the highest number of households, followed by KwaZulu-Natal, Western Cape, and Eastern Cape, and the Northern Cape has the lowest number and is also the lowest populated province.

Households living in formal, informal, and traditional dwellings per province

More than 83.6 percent of South African households were living in formal dwellings, 4.2 percent lived in traditional dwellings, 11.7 percent were based in informal dwellings, and 0.5 percent lived in other conditions. Provincially, the percentages are higher for South African households in formal dwellings with Eastern Cape having the lowest percentage of 72.4 percent and Limpopo having the largest number of households based in formal dwellings.

Households living in dwelling units by tenure status and province

A large portion of South Africans choose to rent properties as opposed to buying them. Households that are living in rented dwellings were most common in Gauteng, followed by the Western Cape, with the least common rentals being in Mpumalanga, Limpopo, and the Eastern Cape. In South Africa, 18.7 percent of households were rented, 7.7 percent were owned but were not paid off, 62.0 percent were owned and paid off, and 11.6 percent were occupied rent-free.

Percentage of households in formal, informal, and other dwellings according to the metro