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Property experts weigh in on Ramaphosa’s #SONA2019

 

Property bosses used words like “optimistic”, “inspiring” in reaction to the president's speech, but these have mostly been followed by “buts” and “howevers”.

 

For more than a year South Africa’s property market has been furiously treading water against very strong economic tides, so it is understandable that real estate bosses were desperately digging for oysters in this week’s State of the Nation Address.

 

And while they did find a few in President Cyril Ramaphosa’s speech, only time will tell whether they contain any pearls of recovery, not only for the market but the country.

 

Words like “optimistic”, “inspiring”, “exciting”, and “good news” have been used in the reactions of property moguls, but these have mostly been followed by “buts” and “howevers”. Plus, the fact that this is an election year cannot be overlooked when evaluating just how thick the layer of SONA’s glossiness is.

 

Yael Geffen, chief executive of Lew Geffen Sotheby’s International Reality feels that while, on the face of it, Ramaphosa’s second SONA was upbeat and would most likely be broadly hailed as good news for the country, it would take just a single scratch to the glossy coat of paint to reveal the sharpness of the precipice below.

 

Read more: Property experts weigh in on Ramaphosa’s #SONA2019

 
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