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News broke last week that The Fitch ratings agency could affirm SA’s rand-denominated credit rating one level above junk at BBB-, a move that no doubt makes us question what this means for the property development and real estate sectors.
While house price growth in Gauteng has shown tentative signs of recovery in the last 12 months, the residential property market in the greater Midrand region has, in terms of demand, steadily continued its upward trajectory on the back of rapid development in the area.
South Africa’s largest bond originator, ooba, has released its property statistics for the first quarter of 2017 (Q1 2017).
A low growth economy and a rising cost of living has given property investors pause for thought.
Real estate consulting firm, JLL SSA, has released its 2016 Investment Review of the South African property market with analysis reporting a R28.8bn increase in investment (from 18,5bn in 2015), and a similar 52.8% increase in gross lettable area (2 million square metres).
At New Vantage Properties we pride ourselves on understanding the importance of selecting the optimal location and premises for your business.
There are a few significant changes on the cards for the South African property sector in 2017.
The raising of the threshold for transfer duty on properties sold for less than R900 000, up from R750 000, as announced in today’s National Budget, is positive news as it provides some relief for first time home buyers, says Dr Andrew Golding, chief executive of the Pam Golding Property group.
During his State of the Nation address on Thursday evening, President Jacob Zuma commented on the property market saying that, “This sector in our country is valued at approximately R7 trillion, with the subsidised sector being valued at R1.5 trillion”.
If Sandton, the financial centre of South Africa, has been impacted by the national economic slowdown, the city appears, at least physically, to show little sign of this.