In the midst of a rapidly contracting economy in limbo under an extended lockdown, today’s (21 May 2020) announcement of a further reduction of 50 bps in the repo rate will have a positive effect on the residential property market, albeit deferred until potential buyers can begin transacting in earnest, says Dr Andrew Golding, chief executive of the Pam Golding Property group.

Thursday, 21 May 2020 16:34

Repo rate cut by 50 basis points

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

It is vital that the entire construction industry be allowed to return to work as soon as possible.

Investec Property Fund Limited (IPF or the Fund) is pleased to announce H2 2020 earnings available for distributionof 75.7cps (H2 2019: 73.5cps) representing 3.0% year-on-year growth.

The Master Builders Association (MBA) North is calling on government to assist the industry by proactively engaging with the industry to firm up the lockdown regulations as they pertain to the construction industry as timeously as possible.

Spear REIT Limited (SEA:SJ), the only regionally specialised Real Estate Investment Trust (REIT) listed on the JSE, reported its annual financial results today, posting 6.06% earnings growth amidst some of the toughest trading environments in recent years for the South African listed real estate sector.

In a recent note, we indicated that, in the “post-lockdown” recessionary period we would likely see the direct economy-related pressures being more severe on the Industrial Property Sector, via a very weak.

The City is aware that during these difficult times, property owners are finding it difficult to pay their municipal rates and services in full, as their monthly income has been impacted due to the announcement of a national lockdown and we recognise the massive impact this will have on our already fragile economy. 

During the Corona Crisis-related lockdowns, many residential rental tenants would have seen their incomes decline sharply, and in certain instances even drop to zero.

Citizens and businesses wishing to move premises during the COVID-19 lockdown can now do so.

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