Property to facilitate economic stability

Posted On Monday, 07 June 2004 02:00 Published by
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THE property boom in South Africa has the potential to create economic and political stability if it is sustained, says senior economist John Loos.
THE property boom in South Africa has the potential to create economic and political stability if it is sustained, says senior economist John Loos.

"A boom in this asset class may not only boost certain key economic sectors... it may also be helpful in acquiring a more equitable distribution of wealth," he said.

"If it is sustainable, it may also be helpful in acquiring a more equitable distribution of wealth than would a boom in equities for example.

This could be positive for economic and political stability," Loos said.

He said residential property arguably has the widest ownership in value terms among individuals compared with the other major asset classes like bank deposits and shares.

"Therefore the marketable wealth of a far larger section of the population is boosted in value than in the case of booms in other asset classes." - Sapa

This article was originally published on page 7 of The Cape Argus on June 05, 2004

Publisher: The Argus
Source: The Argus

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