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What experts predict for property in 2019
The country’s real estate market has struggled this year, but is expected to lift after next year’s elections
This year has been challenging for the country’s property market with political instability, rising inflation, recession and record fuel prices the major hurdles.
While the situation is predicted to improve in 2019, experts say this is likely to occur in only the mid to later part of the year.
“Despite all the challenges, the real estate sector has remained more buoyant than many expected,” says Mike Greeff, chief executive of Greeff Christie’s International Real Estate, adding that the outlook for 2019 “seems quite promising”. He says the results of the election will provide more clarity.
“Foreign investor confidence is also gradually on the rise due to Moody’s rating the country as stable. The Cape water crisis, which dampened the market, has been averted and the Reserve Bank has kept repo rates stable for the time being, despite calls for an interest rate increase.”
Business
Eskom, South Africa’s struggling power utility, expects to report a loss of more than R15 billion in the year to March 31, a record for any state company.The anticipated loss, revealed by Chief Financial Officer Calib Cassim at a tariff application hearing in...
Read More...The Automobile Association said on Tuesday that the fuel price would likely fall in February, based on unaudited mid-month fuel price data released by the Central Energy Fund.The AA said the projected drop in the price of petrol, diesel and illuminating paraffin...
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The National Union of Mineworkers will march to the Union Buildings on Wednesday, asking government to take on the Optimum colliery and establish a state-owned mining company to protect the jobs of mineworkers left stranded by Tegeta’s fall into business rescue.The...
Read More...Former South African Airways board chairperson Dudu Myeni allegedly handed confidential NPA documents to ex-Bosasa chief operations officer Angelo Agrizzi and Bosasa CEO Gavin Watson during a meeting at a hotel in Pretoria.This was revealed at the judicial commission...
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Cape Town - Bulls wing Rosko Specman is eager to prove that he belongs in the XV-man code.Specman made headlines in sevens rugby over the past few seasons and was a vital member of the Blitzboks team that won consecutive World Rugby Sevens Series crowns.But the...
Read More...Cape Town - Chris Morris is running out of time to put his hand up for the Proteas' 2019 World Cup squad, and there was a moment of concern on Tuesday when he left the field with an injured finger during day two of the Titans' 4-Day Franchise Series clash against...
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