#AVC2024 Presentations & Photos Available It was 3 days of knowledge sharing and networking at the Africa Valuation Conference 2024 held from 16th to 18th April in Johannesburg, South Africa. In it’s second edition, the annual event also known as the most comprehensive mega-gathering of property professionals on the African continent featured 2 separate sessions, […]
Category: Commercial
The South African township where property values have doubled over the last 10 years
Soweto has one of the fastest appreciation rates in Johannesburg, with homes in the area doubling in price over the past ten years. This is according to Seeff Property Group, which highlighted the growth in demand for property in Soweto and why this is the case. Licensees for Seeff Soweto Khosi Sibiya and Phindi Mphahlele […]
Mashaba Unveils ActionSA’s Plan Reclaim Hijacked and Abandoned Buildings
ActionSA today unveiled our plan to ignite South Africa’s economic growth and address the country’s housing crisis by reclaiming hijacked and abandoned buildings and factories across the country. The plan builds on the work I did as the City of Johannesburg Mayor where, during my tenure as Mayor, the Council approved the release of 154 […]
SA commercial property sector still under pressure in 2024, CEOs say
Due to high finance costs unless the central bank starts to aggressively cut interest rates, executives of the country’s top two property groups said. Earnings growth in South Africa’s commercial real estate industry will still be under pressure in 2024 due to high finance costs unless the central bank starts to aggressively cut interest rates, executives of the country’s top two property groups said on Thursday. Commercial real estate […]
Constitutional concerns over controversial expropriation bills in South Africa
Government departments and parliamentary committees might duly invite members of the public to lodge written comments and representations on legislative Bills proposed by the government, but comments and representations received from the public risk being brushed aside. The national Constitution stipulates that government administration should conform to the democratic fundamental that the public must be encouraged to […]
New R1.4 billion shopping mall for South Africa starts taking shape
Construction of the new 50,000 sqm Westown Square is picking up pace after the easing of heavy rains. Westown Square is an R1.4 billion retail centre being built in the Westown Precinct, which will form part of the broader R30 billion Shongweni Urban Development project. Westown Square is set to offer a high-street retail experience, […]
How load shedding is impacting the property market in South Africa
This is according to Renier Kriek, managing director at Sentinel Homes. “Enjoying one’s home to the greatest extent possible during blackouts and maintaining its future value have become closely intertwined,” he says. So, it is essential that those in the market understand how their efforts to minimise the severity of power cuts can benefit or […]
Almost 90% of municipalities are ‘distressed’ or ‘dysfunctional’
229, or 89.1%, of the country’s municipalities are not working properly. Minister in the Presidency responsible for Planning, Monitoring and Evaluation Maropene Ramokgopa has painted a grim picture of the state of municipalities in the country, revealing nearly 90% are in trouble. Answering a parliamentary question on the implementation and progress of the Medium-Term Strategic […]
Repo rate ‘cut of 1%-2% needed to revive property market
‘All the people we speak to do believe that in 2024 we’re likely to see rate cuts of ideally somewhere between 50 basis points and 150bps. So I do think there will definitely be some respite next year as inflation reaches that mid peak,’ says Rhys Dyer, CEO of ooba Home Loans. JEREMY MAGGS: A warm […]
Massive R3.6 billion development boom in Cape Town
A recent report shows that Cape Town CBD’s post-Covid economy is on the rebound, with property investment in the inner city in 2022 exceeding R3.555 billion while the retail, hospitality and eventing sectors are all experiencing major growth. This is according to the latest edition of the State of Cape Town Central City Report 2022 […]