After a year and a half of pandemic conditions made worse by South Africa’s crippled economy, rising municipal rates and tariffs, violent protests and looting, it’s safe to say the commercial and industrial property sectors have had a difficult time of late.

Wednesday, 25 August 2021 13:55

What to make of negative interest rates

A decade ago, few of us would have contemplated the idea of negative monetary policy rates, let alone negative market-determined bond yields.

Emira Property Fund (JSE: EMI) has acquired its eleventh grocery-anchored dominant open-air shopping centre in the USA, growing its equity investments in thriving states of the world’s largest economy to R1.55bn (US$105m).

Brokers continue to see all 3 major commercial property buying/selling markets as substantially oversupplied, but the perception is that the Industrial Property Market’s oversupply is the least significant.

Second quarter oobarometer statistics released by ooba, South Africa’s foremost home loan comparison service, show how the fresh perspective on home and work life brought about by the COVID-19 pandemic has influenced home buyers to buy real estate that suits their new found needs, at a higher average price. 

Given the vulnerability of South Africa’s economy in the wake of last week’s unrest, as anticipated, the Monetary Policy Committee adopted an accommodative approach by deciding to keep the repo rate steady at 3.5%, which leaves the prime rate at 7%, says Dr Andrew Golding, chief executive of the Pam Golding Property group.

The South African economy continues to rebound from the 2020 recession, albeit at different growth rates across sectors, the South African Reserve Bank’s Financial Stability Review (FSR) has revealed.

Thursday, 20 May 2021 23:11

Repo rate remains unchanged at 3.5%

The Monetary Policy Committee has decided against changing the repo rate, once again keeping it at 3.5% per annum, said Reserve Bank Governor Lesetja Kganyago.

Despite less than 300km separating the Eastern Cape cities of East London from Gqeberha (formally Port Elizabeth), the contrast in the residential rental property market could not be more significant.

The residential property market continues to strengthen, as interest rates remain at record-low levels after a year in which the repo rate remained below 4%, says Carl Coetzee, CEO of BetterBond.

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