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While the local commercial property finance market has been constrained by poor economic growth, rising operating costs and low business confidence in the first half of this year, it remains buoyant, continuing the strong trend seen over the past few years, according to Nedbank Corporate and Investment Banking (NCIB) managing executive of property finance Robin Lockhart-Ross.

Listed property share prices rally about 5% over the past two weeks, on better than expected results reported by real estate counters this month.

Redefine Properties acquires Macsteel property portfolio for R2.7bn in cash.