1st Quarter 2021 FNB Property Broker Survey of Rental Market Conditions – Brokers perceive recovery in Industrial and Retail market activity, but little sign of rising activity in the Office Market.

In this note, we continue with the 4th quarter 2020 results of our FNB Commercial Property Broker Survey, which surveys a sample of commercial property brokers in the 6 major metros of South Africa, ie. City of Joburg and Ekurhuleni (Greater Johannesburg), Tshwane, Ethekwini, City of Cape Town and Nelson Mandela Bay.

In this report, we discuss the 2nd quarter 2020 results of the rental market component of our FNB Commercial Property Broker Survey, which surveys a sample of commercial property brokers in and around the 6 major metros of South Africa, namely, City of Joburg and Ekurhuleni (Greater Johannesburg), Tshwane, Ethekwini, City of Cape Town and Nelson Mandela Bay.

In the midst of a rapidly contracting economy in limbo under an extended lockdown, today’s (21 May 2020) announcement of a further reduction of 50 bps in the repo rate will have a positive effect on the residential property market, albeit deferred until potential buyers can begin transacting in earnest, says Dr Andrew Golding, chief executive of the Pam Golding Property group.

Slight improvement in transaction volumes alongside mortgage advances.

Bridge City is set to become the centrepiece of an affordable housing development that will see more than 350 units being developed with the first ones being up for sale towards the end of next year.

There have been signs of significantly improved economy-wide sentiment early in 2018, an improvement that many link to the change in the ruling party’s leadership, which translated into a change in the country’s President too.

Property owners in Johannesburg, Ethekwini and many other municipal areas only have a short time in which to lodge any objections to the new municipal valuations of their properties – and to the new municipal rates based on these valuations that they will be charged from July.

In his Budget Speech 2018, Finance Minister Malusi Gigaba used Bridge City as an example of a successful public-private partnership which is leading to social and economic transformation.

The owners of Durban hotels, restaurants and other businesses are laughing all the way to the bank after the Durban July this past weekend.

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