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Covid leaves a long shadow on economy
South Africa’s economy looks set to recede “well into 2025” and this will impact on the country’s property market in particular ways, says Merle O’Brien, principal futurist and head of foresight and innovation at at Cape Town-based Creation iLab – the African Innovation Institute for the Future.
Property stock will increase in waves over the next six months to six years as cash-tight property owners sell and, in the short-term – six months to a year, more tenants will cohabit instead of renewing their leases.
These occurrences are all the result of Covid-19.
She says long-term drivers of change include economic contraction and this will result in:
♦ People moving and emigrating more.
♦ Baby boomers downsizing.
♦ Millennials battling to buy homes.
♦ Gen Z showing greater propensity for risk.
♦ Rising female empowerment and “huge loss” of consumer confidence among men.
Business
JOHANNESBURG - The World Bank has said that South Africa will experience a weaker economic recovery this year compared to its peers in southern and east Africa due to delays in implementing structural reforms. The lender said in its Africa’s Pulse report published...
Read More...JOHANNESBURG - Eskom chief executive Andre de Ruyter said yesterday that the arrears debt by municipalities had spiralled to R31.4 billion at the end of August. Speaking to delegates of the virtual 2020 Joburg Indaba De Ruyter said that municipal debt was an undisputed...
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Cape Town - Eskom hopes to see significant system improvement by September 2021, after resuming its long-term maintenance programme in July, CEO Andre de Ruyter said on Thursday....
Read More...Cape Town – Public Protector Busisiwe Mkhwebane has lost her application to stop the parliamentary process to conduct an inquiry into her removal from office. In a scathing judgment by the Western Cape High Court on Friday, it found the national legislature...
Read More...Sports
JOHANNESBURG - Cricket South Africa will press ahead with handing the full Fundudzi forensic report to the parliamentary portfolio committee for sport at the same time as it continues making progress on a “road map” leading up to its rescheduled annual general...
Read More...JOHANNESBURG - The Lions will play their opening match of Super Rugby Unlocked against the Sharks on Friday night (kickoff 7pm). As confirmed by the union, the match will count as each player’s first cap and will not be added to their current Super Rugby...
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The office as we knew it is dead The coronavirus crisis has proved that companies can remain productive...
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