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Single women buyers are at a disadvantage  Â Lightstone figures show single women purchased about 72 000 homes in South Africa last year, compared to couples who purchased about 65 000. 
Real estate buyers becoming environmentally aware  More people are installing green features in their homes to avoid the threats of load-shedding and Day Zero.
Estate life a dream for many Agents indicate there are now walled developments to suit a range of budgets. 
Residential apartments are no longer a safe bet  Residential apartments are seeing slower rental growth across the country.

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Tough environment persists for commericial property

With businesses under ongoing financial pressure, commercial property owners are feeling the pinch too.

Rising vacancy levels have been plaguing commercial property owners for more than a year as businesses feel the pressure of ongoing economic decline. Some people even believe “this is one of the toughest property sector environments in two decades”, says Gregg Huntingford, chief executive of Spire Property Management.

South African Property Owners’ Association (Sapoa) statistics showed the national office vacancy level to be at 11% during the first three months of the year which, although it was a slight improvement of 0.1%, was also on the back of declining rental growth. “[This is] indicative of the level of excess stock still present in the market,” the report says, also stating that only eight of the past 35 quarters have seen improvements in the level of the overall office occupancy rate.”

The country’s industrial and retail property rates were 3.6% and 4.2% respectively as at December 2018, Sapoa research reveals. Even though the economy is expected to start improving by the end of the year, the challenge of commercial vacancies will not just disappear.

Huntingford advises landlords to adapt and come up with “unique and different” approaches to reverse the rising vacancy trend. One solution could be found in rental structuring, which he says “speaks to the heart of any business owner”.

Read more: Tough environment persists for commericial property

 
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Business

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The annual rate of producer price inflation for final manufactured goods rose to 6.5% in April, up from 6.2% in March, according to Stats SA.This was above the expectations of most economists. Ahead of the announcement, NKC African Economics projected a year-on-year...

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Now that South Africa’s cabinet has been announced, the rand can join its peers in being whipsawed by a trade war that has subdued markets worldwide.The currency swung between gains and losses, a sign that while investors are relieved over President Cyril Ramaphosa’s...

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Politics

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The Economic Freedom Fighters says it intends to appeal a defamation ruling against it, after the South Gauteng High Court found the party had made defamatory and unlawful comments against former Finance Minister Trevor Manuel.Earlier on Thursday the court  Read More...

Mike Waters, who was the DA deputy chief whip in the 5th Parliament, will not return to the position for the next parliamentary term, after he lost the DA caucus' leadership election to Jacques Julius.The DA elected its caucus leadership on Thursday morning.As...

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Sports

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Cape Town - Steven Kitshoff will captain the Stormers in their Super Rugby encounter with the Lions in Johannesburg on Saturday.Kitshoff takes over the captaincy from regular skipper Siya Kolisi who will miss the clash which kicks off at 17:15 at Ellis...

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Sydney - Former Australia off-spinner Gavin Robertson has revealed he is battling brain cancer, with high-profile ex-players rallying around him.The 53-year-old, who played four Tests and 13 one-dayers before becoming a commentator, was rushed into surgery...

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