During the Corona Crisis-related lockdowns, many residential rental tenants would have seen their incomes decline sharply, and in certain instances even drop to zero.

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.

JLL, one of the world’s leading real estate investment and advisory firms, today released its Q1 South Africa Real Estate Market Performance report which outlines the implications that Covid-19 will have on major sectors across the country.

In line with market expectation, the Reserve Bank has cut the repo rate by 100 basis points to 5.25% per annum, Governor Lesetja Kganyago announced on Thursday.

Indluplace Properties, the first and largest rental residential REIT, listed on the JSE, with a portfolio in excess of 9 500 units reaffirmed the position of its portfolio in an investor update published to the market today.

The coronavirus outbreak has rapidly approached global pandemic levels, and given the knock-on effects of the virus on economic growth, the fireworks in markets were inevitable.

Fairvest Property Holdings Limited (“Fairvest”) today again announced solid results for the six months to December 2019, with above market distribution growth of 5.1%, net property income growth of 2.2%, 5-year lows in vacancy rates and consistently low arrears.

Apart from the tax reprieve announced by Finance Minister Tito Mboweni in the National Budget, with no major tax increases and even personal income tax relief across the board.

Wednesday, 26 February 2020 20:27

Economic growth revised downward to 0.9%

South Africa’s economy is expected to grow by 0.9% in 2020, National Treasury said on Wednesday.

As anticipated, President Cyril Ramaphosa spoke to the urgency for economic growth and the need for a serious and sustainable increase in the employment rate in his State of the Nation address last night. 

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