Wednesday, 27 May 2020 11:48

The success of online Property Auctions

The current state of the economy brought about by many factors including the Covid 19 Pandemic and the recent downgrade to junk status is having an unparalleled effect on the real estate industry in South Africa.

It is fashionable to have an opinion on how the COVID-19 Crisis is “changing the world”.

In a downturn, Property Market Values can deviate dramatically from the market “equilibrium” value, a value which can be far lower than market in recessionary times due to strong resistance by the market to dropping values to make the sales.

Urbanisation has been a major watchword of the 21st century, with 55% of the world’s population already living in urban areas and numbers expected to increase to almost 70% by 2050, however, the course of urbanisation is likely to be significantly altered by several forcible disrupters.

A slowing capital growth trend, into negative territory by 2019, has been in play in recent years. The Corona Crisis is likely to add momentum to this correcting trend in 2020.

Marc Wainer, founder, former Chairman and CEO of Redefine Properties, who started his career working in his parents' grocery and fish shop in Yeoville and went on to build one of the country’s largest and diversified Real Estate Investment Trust (REIT) listed on the JSE passed away earlier today at the age of 71.

Peter Gent, ex-RMB Chief Operating Officer, has been appointed as an independent, non-executive director to the board of directors of commercial property development company, Heartwood Properties, who are listed on the 4AX (4 Africa Exchange).

The data doesn’t lie: when women occupy positions of leadership, businesses are more resilient, employees more engaged, and bottom lines more robust.

JSE listed Spear REIT Limited announced the appointment of Mrs. Kim Pfaff-Karg as Chief Investment Officer who will join the business on the 1st of March 2020.

GoIndustry DoveBid SA (GoIndustry) is hosting another massive property auction on behalf of their long-standing client, Telkom.

Page 1 of 46

Most Popular

Sectional Title Trustees and Homeowners Association directors face COVID-19 liability

May 22, 2020
Marina_Constas_BM_Law
The Covid-19 pandemic and South Africa’s lockdown regulations are impacting all aspects…

Deeds office reopen their doors to the public

May 09, 2020
Carlize Knoesen
The Department Agriculture, Land Reform and Rural Development has announced the reopening…

Dipula drops vacancies by almost 30% and concludes R370m new leases for 29 Feb 2020 interim results

May 18, 2020
Izak_Petersen_mdos3o
South-African focused JSE-listed diversified REIT, Dipula Income Fund, today announced…

2020 Commercial Property Outlook –Why Property Price/Valuations Indices don’t tell the full story of market weakness during a deep recession

May 09, 2020
John LoosFNB
In a downturn, Property Market Values can deviate dramatically from the market…

Investec Property Fund delivers a solid performance in a challenging environment

May 20, 2020
CEO Andrew Wooler
Investec Property Fund Limited (IPF or the Fund) is pleased to announce H2 2020 earnings…

Please publish modules in offcanvas position.