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Lower Interest Rates Benefit the Property Market
South African currently has the benefit of experiencing lower interest rates.
After the release of news regarding the current global and local outlook, the South African Reserve Bank has locked the repo rate 5%.
Now the struggling nest of South African consumers are being encouraged by the South African banks to take advantage of the low repo rate to repay their debt faster.
Retail Demand in Eastern Cape
Eastern Cape has seen a rise in demand for retail properties in the quieter and unexpected areas.
The demand for retail space across remote towns in Eastern Cape such as Sterkspruit, Mthatha and Tsolo formerly known as the Transkei has accelerated, according to JHI Properties.
Retail developers and Financiers are looking forward to another good year this 2013 on the back of the country’s robust economic development, which has been driven by consumer spending.
Amanda De Lange, portfolio manager of JHI Properties in Port Elizabeth reports that currently JHI has been receiving a high number of enquiries for retail space in Sterkspruit and Mthatha, mainly as a result of a pent-up demand as well as growing passing trade.
No Surprise | Economy Under Pressure
SOUTH Africa’s leading indicator of business activity fell for the first time in eight months in March, signalling a weak economic growth trajectory in the months ahead.
The indicator, which provides a guideline for economic growth for at least six to 12 months ahead, was released by the Reserve Bank on Tuesday.
It fell by 1.1% in March compared with the preceding month, and rose by 0.3% in March compared with March last year.
The 0.3% growth slowed from a 0.9% year-on-year increase in February. The indicator is now at a level of 101.9 from 103 in February.
Rental Market Looking Positive
A recent survey was conducted by Torus Capital in order to research the forecast for the property rental industry in South Africa for the current year, 2013 and moving forward.
In a burst of good news the property rental market is showing great potential for positive growth. Even though these results are against the current trends.
There is a show of growth in the industry and the prediction is that this growth will continue.
Friday Funny!
Co-Working Trend in Cape Town
Cape Town’s CBD is seeing a rise in coworking, a trend that describes consultants, freelancers and entrepreneurs sharing office space.The numbers of young entrepreneurs choosing to be based in the central city is climbing, attracted by the vibrancy of the CBD, cost effectiveness, readily available office infrastructure, convenience and the knowledge, sharing and networking opportunities. read more…
Distribution Property Sector arrives in SA
A new property sector is opening up in African markets as retailers growing their presence there are now in need of or building their own distribution warehouses, according to Belinda Clur, managing director of Clur Research International.
Costs of running the Cape Town Stadium – R436 million
The City of Cape Town released the costs of running the Cape T own Stadium – R436 million since construction.
While it is the perfect venue for rock stars like Bon Jovi and younger new comers like Justin Beiber – the Cape Town Stadium is losing Cape Town mass amounts of money.
Since construction completed in 2009 until June of this year, 2013, operating costs were projected at more than R300 million.
However, Deputy mayor Ian Nielson’s office said the figures were incorrect.
At the time Kevin Jacoby, chief financial officer for the City of Cape Town, said the financial results for the various financial years were presented unclearly.
He would review the report and present it at the next finance portfolio committee meeting.
The new figures were presented on Monday. And instead of being less than the disputed figure of R300m, the new total is R436m.
Friday Funny
