“South Africa’s residential market is in for an interesting time in 2019, but our predictions for the year are all positive, and we believe that home buyers and investors who take the plunge and buy early will be well-rewarded.”

Poor GDP figures released today revealed that South Africa has entered a technical recession following two consecutive quarters of negative economic growth, heightening the country’s risk of suffering yet another credit downgrade in the second half of the year, says Citadel Chief Economist and Advisory Partner Maarten Ackerman.

The Monetary Policy Committee (MPC) has unanimously decided to keep the repurchase rate unchanged at 6.5% per annum.

Last year’s consumer spend left a lot to be desired. The fluctuating rand, economy as well as the political landscape may have affected the bottom lines of many retailers and shopping centres alike.