November hotel revenues - strong year-on-year growth off a low 2020 base, but still far weaker than 2019.

The unrest and looting that took place in many parts of KwaZulu-Natal and Gauteng in July this year is little more than old news to many South Africans.

JSE listed REIT Fairvest Property Holdings Limited (“Fairvest”) today reported its results for the full year ended 30 June 2021.

The civil unrest seen in KwaZulu-Natal and parts of Gauteng in July had a devastating impact.

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.

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.