The past decade has seen South African property developers and investors forge their way up the African continent and then pull back.

Today’s repo rate reduction of 25bps (to 6.5%), coupled with early indicators of recovery in the South African residential property market augur well for the balance of the year and underscore the opportunity for home buyers to capitalise on the current favourable market conditions before the market enters a decisive upturn.

Increased over the past two years, contributing to excess supply predominantly in the upper-ends of the property market.

Investec Property Fund (IPF) has acquired an additional 23% interest in the Investec Argo Property Fund (UK Fund) for GBP25 million, increasing its shareholding to 33% and its total investment in the UK Fund to GBP36.7 million.

New Mortgage Lending continued its year-on-year decline in the 1st quarter of 2019, with the Commercial Mortgage Lending and New Building Mortgage categories being the major “drag”

Texton Property Fund has secured leases over more than 10,000sqm of industrial space at its Hermanstad Industrial Park in Pretoria.

JSE specialist shopping centre REIT, Hyprop, today announced progress on its strategy communicated to the market in March this year, where it stated its intention to reduce its exposure to sub-Saharan Africa excluding South Africa to focus its attention and capital on its South African and Eastern European businesses. 

The FNB Property Barometer for 2019 indicated a low 3.7% year-on-year growth in Feb this year, compared to the 4.2% year-on-year CPI for the same period and the 3.8% annual average recorded in 2018.

JSE listed Balwin Properties, a developer that cares about environmentally responsible building practices and the delivery of high-quality apartments to its valued clients, today announced a major achievement in its ongoing drive to fight climate change through the mainstreaming of green lifestyle developments.

A new, 100%black-owned hotel operator is to soon enter the local market following a multi-million rand deal signed this week between Afrirent Holdings, Top Toyo Investments and Indalo Hotels & Leisure Management in terms of which an R280 million, focused service Hampton by Hilton hotel will be built in Sandton, Gauteng.

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