Despite President Ramaphosa’s optimistic analogies of fynbos re-emerging after fire, 2021’s State of the Nation Address made it clear that South Africa has a long, and largely undefined, road to recovery ahead.

Hyprop, the retail-focused REIT with a R45.4 billion portfolio of shopping centres in South Africa, Eastern Europe and sub-Saharan Africa, improved its distributable income by 18% in the six months to 31 December 2020 compared with the six months to 30 June 2020.

There is a need to achieve greater scale in delivery and improve conditions for private-sector investment in social housing, National Treasury pointed out in its 2021 Budget Review.

Yael Geffen, CEO of Lew Geffen Sotheby’s International Realty, welcomed the government backtracking in this budget speech on its earlier decision to increase personal income tax, as well as providing a further R2.2 billion in tax relief through raising personal income tax brackets and rebates by 5%.

Relief at no increase in personal tax, says Dr Andrew Golding, chief executive of the Pam Golding Property group

Thursday, 25 February 2021 09:38

Optimistic budget masks a number of key risks

Finance Minister Tito Mboweni’s budget has been received very positively, as demonstrated by the reaction from markets.

We continue with the 4th quarter 2020 results of our FNB Commercial Property Broker Survey, which surveys a sample of commercial property brokers in and around the 6 major metros of South Africa, namely, City of Joburg and Ekurhuleni (Greater Johannesburg), Tshwane, Ethekwini, City of Cape Town and Nelson Mandela Bay.

The Minister of Human Settlements, Water and Sanitation, Lindiwe Sisulu has issued a clarion call to potential investors including the banking institutions to assist government’s efforts in meeting the demand for social housing units by investing into social housing projects. Sisulu says the investment opportunities are spread across the country’s metros. 

In this note, we continue with the 4th quarter 2020 results of our FNB Commercial Property Broker Survey, which surveys a sample of commercial property brokers in the 6 major metros of South Africa, ie. City of Joburg and Ekurhuleni (Greater Johannesburg), Tshwane, Ethekwini, City of Cape Town and Nelson Mandela Bay.

Real estate has long been a rewarding sector of the financial markets. Like all sectors, share prices and the underlying fundamentals of commercial property assets weakened in early 2020, as South Africa and the rest of the world came to grips with managing through the pandemic, with some sectors suffering more than others.

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