Apart from the tax reprieve announced by Finance Minister Tito Mboweni in the National Budget, with no major tax increases and even personal income tax relief across the board.

Standard & Poor's Global Ratings has again downgraded SA's foreign and local currency ratings by one notch each to BB and BB+ respectively.

Real estate consulting firm, JLL, has released its South African Q3 2017 market reports for the office markets in Johannesburg, Durban and Cape Town; the industrial markets in Johannesburg and Durban; and an outline of the South African retail market.

The International Monetary Fund (IMF) has raised South Africa’s growth forecast to 1% this year.

The 2017 national Budget was tabled in the South African Parliament by the Minister of Finance, Pravin Gordhan, on Wednesday, 22 February 2017.  

The raising of the threshold for transfer duty on properties sold for less than R900 000, up from R750 000, as announced in today’s National Budget, is positive news as it provides some relief for first time home buyers, says Dr Andrew Golding, chief executive of the Pam Golding Property group.

South Africans can expect growth of 1.3% in 2017, which is expected to improve moderately to over 2% in the medium term, Finance Minister Pravin Gordhan said on Wednesday.

Wednesday, 22 February 2017 19:01

Good news for affordable housing market

As Finance Minister Pravin Gordhan tabled what appeared to be a pro-poor budget, he has announced that relief will be given to the affordable housing market.

The ratings agencies have been circling for months with many fearing a downgrading to junk status, and South Africa’s economic growth rate has been narrowed from 0.8% in February to 0.5%.

Ratings agency Standard and Poor’s will today make its decision public on South Africa’s credit rating.

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