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.

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.

Cape Town’s new apartment and mixed-use property development The Harri is selling off the last of its 48 studios and lofts to South Africans wanting to put their tax liability to good use by investing in a Section 12J tax investment scheme.

The Property Industry Group has announced an industry-wide assistance and relief package for retail tenants that are hardest hit by complying with South Africa’s lockdown in the face of the COVID-19 pandemic.

Estienne de Klerk has been elected Chairman of the SA REIT Association, which represents the South African listed REIT (real estate investment trust) sector.

Growthpoint Properties today announced 5.9% growth in distributable income to R3.1bn with revenue from the group increasing 4.3% for its half-year to 31 December 2018, representing dividend growth of 4.5% per share for investors.

Texton Property Fund today reported a total dividend of 36.18 cents per share for its half-year ended 31 December 2018.

“Climate change is real,” Minister Mboweni’s budget speech statement is a fact. But now what? We need to be smart, diligent and brave to reach the low carbon future the National Development Plan plotted out for us, says Dorah Modise, CEO Green Building Council South Africa.

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