“At the time, the higher-than-anticipated 50bps rate hike at the previous (March 2023) MPC meeting was widely thought to be the last – or at worst the penultimate – repo rate hike in the current interest rate cycle.

As South Africa continues gradually emerging from the national lockdown, the luxury residential property market is showing promising signs of increasing activity, says Dr Andrew Golding, chief executive of the Pam Golding Property group.

The fourth and final phase of the popular Willow Wood Office Park, developed by Heartwood Properties, in Fourways in Gauteng, is currently under construction and due for completion in March next year.

This is the second year in a row that Pinnacle Point Estate has taken the top spot, ahead of 24 other South African golf estates, including Steyn City, Fancourt (Montagu) and Pearl Valley.

The Gauteng Province is to upgrade William Nicol Drive up to the N14 freeway for R576 million as part of Gauteng’s infrastructure development plans.

According to John Truter, Chief Operating Officer, WSP | Parsons Brinckerhoff, Structures, Africa, there are three mega trends driving the commercial property industry.

The official opening of the multi-billion rand Steyn City Lifestyle Resort, north of Fourways in Johannesburg, heralds a new era in South African property circles with the 2 000 acre project representing Africa’s largest residential development to date.

Insurance tycoon Douw Steyn’s mansion in Fourways, recently completed at a cost of R250m, has set what is believed to be a new record for South African residential property values.

Douw Steyn, one of South Africa’s most flamboyant tycoons, is set to launch his own “private city” next year, the biggest development to hit Johannesburg in years.