Growthpoint Properties Limited (JSE: GRT) delivered 5.4% growth in revenue and R5.5bn in distributable income for its full-year to 30 June 2020.

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).

The further reduction of the repo rate by 25 basis points to an all-time low of 3.5% takes the prime interest rate down to 7%, says Dr Andrew Golding, chief executive of the Pam Golding Property group.

The South African Gross Domestic Product (GDP) decreased by 2.0% in the first quarter of 2020, Statistics SA has revealed.

“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.

On Sunday evening, the President announced a relaxation in COVID-19-related lockdown measures, from level 4 to level 3 as from 1 June, which means the opening up of most retail activity, excluding restaurant and pub facilities.

Thursday, 21 May 2020 16:34

Repo rate cut by 50 basis points

The South African Reserve Bank (SARB) has cut the Repurchase (repo) rate by 50 basis points.

In a recent note, we indicated that, in the “post-lockdown” recessionary period we would likely see the direct economy-related pressures being more severe on the Industrial Property Sector, via a very weak.

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.

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.

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