Loos, a property economist at FNB Commercial Property Finance, has been a catalyst in SA’s residential property economy landscape for decades, analysing and breaking down complex property disruptor statistics into simpler, more understandable language.
The property market may ‘hope’ for interest rate cuts to boost short-term demand, and periodically, this happens, but in South Africa, new residential development remains mediocre.
Here’s a quick roundup of comments from the industry in response to the third consecutive repo rate hike of 75 basis points announced on Thursday.
Continued upward pressure on inflation is creating what looks to be a protracted increasing interest rate cycle.
There is a very real danger that the series of recent rates hikes, while coming off a very low base, will slow impetus across the property sector.
The conversion of commercial spaces into residential units is nothing new to the South African property sector.
Non-residential building statistics release showed positive growth for January 2022 in square metres of building plans passed, hinting at possible growth in completions in 2022.
South Africa’s housing property market has shown remarkable resilience in the past two years, emerging stronger from the pandemic and remaining robust during civil unrest and inflationary pressures
