As the country emerges from COVID-19-related lockdowns, the hard lockdown having been in April and May 2020, high frequency data points to quite a lengthy road back to “full” recovery for the economy.

During the third quarter of 2020 (Q3 20), South Africa’s COVID-19 lockdown moved from Alert Level 3 through to Level 1.

The rand has been surprisingly strong since early April, with a few reversals along the way. What is driving this and how long can it last?

Returning from a nationwide catchup with their network of brokers and lending partners, Paragon Lending Solution CEO, Gary Palmer, says despite banks’ and landlords’ considerable help during lockdown, South Africa should prepare for a very bumpy few months as lenders and landlords run out of runway and eviction notices begin to pile up. 

The South African economy contracted by a staggering 51% in Quarter 2 of 2020, as the country reeled from the consequences of the COVID-19 enforced lockdown, Statistician-General Risenga Maluleke has revealed.

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

Kim Pfaff-Karg, BSc Property Studies (Honours) is the Chief Investment Officer at Spear REIT Limited, a Real Estate Investment Trust (REIT) listed on the Johannesburg Stock Exchange (JSE).

The Monetary Policy Committee (MPC) of the South African Reserve Bank (SARB) has cut the interest rate by 100 basis points.

With the South African Reserve Bank’s announcement of interest rates cut of 100 basis points and earlier transfer duty exemption for properties below R1 million by the Minister of Finance, local regulations have made it attractive for first-time home buyers to enter the market.