In a thought-provoking virtual seminar hosted today, over 200 industry stakeholders joined the Social Housing Regulatory Authority (SHRA) Investment Seminar to discuss the urgent solutions needed to address South Africa’s high-density social housing challenges and revitalise the country’s economy.

Latest GDP figures have laid bare the grim reality of COVID-19’s economic effects, revealing an unprecedented 51% decline in economic activity in the second quarter of this year (quarter-on-quarter, seasonally adjusted and annualised).

All eyes will be watching to see how the latest GDP figures impact the MPC’s interest rate decision next week, as well as eagerly awaiting the upcoming October Medium-Term Budget Policy Statement (MTBPS).

So asks Dr Andrew Golding, chief executive of the Pam Golding Property group.

Against the backdrop of ongoing measures to address the Covid-19 pandemic in South Africa, the Supplementary Budget 2020 highlighted several key aspects, says Dr Andrew Golding, chief executive of the Pam Golding Property group.

“The COVID-19 Crisis has changed the world a lot, perhaps less through introducing new trends and more through speeding up old trends,” said John Loos, FNB Economist at an FNB Commercial Property Finance (CPF) webinar earlier today.

During the Corona Crisis-related lockdowns, many residential rental tenants would have seen their incomes decline sharply, and in certain instances even drop to zero.

In a downturn, Property Market Values can deviate dramatically from the market “equilibrium” value, a value which can be far lower than market in recessionary times due to strong resistance by the market to dropping values to make the sales.

A slowing capital growth trend, into negative territory by 2019, has been in play in recent years. The Corona Crisis is likely to add momentum to this correcting trend in 2020.

JLL, one of the world’s leading real estate investment and advisory firms, today released its Q1 South Africa Real Estate Market Performance report which outlines the implications that Covid-19 will have on major sectors across the country.

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