eProperty News
Thursday, 19 November 2020 16:02

Repo rate remains unchanged at 3.5%

The South African Reserve Bank (SARB) has for the second consecutive cycle kept the repurchase rate unchanged at 3.5% per annum.

Gerhard Kotzé, MD of the RealNet estate agency group, says that while the real estate sector is currently performing very well in spite of the major contraction in the economy this year.

Berry Everitt, CEO of the Chas Everitt International property group, says the most positive news to emerge from the Medium-Term Budget Policy Statement delivered by Finance Minister Tito Mboweni today is that the economy is expected to “rebound” in the final quarter of 2020, and return to positive growth next year of 3,3%, following an expected decline of 7,8% this year.

Spear REIT Limited (SEA:SJ), the only regionally specialised Real Estate Investment Trust (REIT) listed on the JSE, reported its interim financial results today.

Despite a challenging year that has seen the retail sector facing unprecedented headwinds, Exemplar REITail has released a healthy set of interim results for the period ended 31 August 2020.

Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with South African real estate company, Millat Properties, for the first Hyatt-branded hotel in Cape Town.

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