Repo rate reaction: Property Sector Yael Geffen, CEO Lew Geffen Sotheby's International Realty

Posted On Thursday, 27 January 2022 11:00 Published by
Rate this item
(0 votes)

According to Yael Geffen, CEO of Lew Geffen Sotheby’s International Realty, the decision by the South African Reserve Bank’s Monetary Policy Committee (MPC) to raise the repo rate by 25 basis points to 4% is not unexpected.

 Yael_Geffen_CEO

“Economists predicted the increase in the last quarter, they predicted this one and they predict further increases by the same increment each quarter for the remainder of the year. Coming off a base of historically low interest rates we’ve known for a year now that increases were due and it’s certainly no cause for concern because it hasn’t affected the turnaround in the property market, which is looking bullish across all sectors.

“And despite the encouraging revival in recent months, the market still very much favours buyers who have their choice of properties across certain price bands, while stock shortages are beginning to appear in others. Banks are competing for the mortgage market, though, and they’re offering very attractive rates, so with the real estate sector increasingly active, the time to dive in is now.

Last modified on Thursday, 10 February 2022 11:06

Most Popular

Impact of fuel price increase on commercial property

Jun 02, 2022
John Loos
It is well-known that the cumulative fuel price increase has added significantly to…

Fluxmans signs long lease with Growthpoint Properties for Illovo Corner offices

Jun 02, 2022
Illovo Corner
South African law firm Fluxmans has signed a long lease with Growthpoint Properties (JSE:…

Rebosis Property Fund bids farewell to Dr Anna Mokgokong, the founding independent non-executive director and chairperson

Jun 02, 2022
Dr.-Anna-Mokgokong
Rebosis Property Fund, a JSE listed real estate investment trust (REIT) with a…

Rebosis reports improved operational performance for six months to end February 2022; focus remains on portfolio optimisation

Jun 01, 2022
Otis Tshabalala Rebosis Property Fund
Rebosis Property Fund, a JSE listed real estate investment trust (REIT) with a…

Please publish modules in offcanvas position.