Tag: property sector
The South African property sector is seeing the repo rate cut last week as the tool that is needed to set the industry on the road to recovery. According to industry experts there has been an uptick in first time home owners and new investors and joining CNBC Africa for more is Carl Coetzee, CEO of Betterbond and Andrew Golding, CEO of Pam Golding Property Group.
Mozambique is seen as a growth potential for investment opportunities, according to the International Monetary Fund its GDP is predicted at 5.5 per cent in 2020 and inflation projected to remain low, increasing slightly to 5 per cent at the end of the year. Ettiene Erasmus, Entrepreneur of Mozambique Property Developments & Investments joins CNBC Africa for more.
Some parts of the property market are operating per usual during the current lock-down level 3, which has seen some movement in the sector but, is this enough for companies and consumers? Joining CNBC Africa to unpack the trends and an outlook of the property sector is Tim Akinnusi, Founder and CEO of Mortgage Market.
Retail, office and industrial tenants have been knocking on their landlord’s doors asking for rental discounts to weather the economic downturn of Covid-19. Landlords themselves have been asking for relief from their banks to protect their financial walls from the wrath of the pandemic. For more insight on the business of property in a Covid-19 world, CNBC Africa spoke with Norbet Sasse, CEO of SA’s largest landlord, Growthpoint Properties.
Balwin Properties has followed in the steps of other property companies and has not declared a full year dividend due to uncertainty amid the Covid-19 crisis. Group revenue increased by 11 per cent whilst profit and headline earnings per share dropped by 9 and 8 per cent respectively. Balwin Properties CEO, Steve Brookes joins CNBC Africa for more.
“It is not rocket science, which is why we can do it. We don't have MBAs, we have MBWAs - Management By Walking Around."
South Africa’s property sector will be one of the hardest hit industries due the COVID-19 pandemic and lock-down regulations. Consumers are currently facing unemployment and a financial strain on their livelihoods amid the COVID-19 crisis and the housing market will not only experience a decline in prices but also sale volumes. Joining CNBC Africa to unpack what this will mean on the forefront of the property sector is Steve Brookes, CEO of Balwin Properties, Carl van den Berg, Business Development Executive at Private Property and Michelle Dickens, Managing Director and Founder of Tenant Profile Network.
South Africa’s worst performing asset class in 2019 was once again the property sector. This was despite the Real Estate Investment Trust (REIT) sector recovering to modest growth after it fell by 25 per cent in 2018. Keillen Ndlovu, Head of Listed Property Funds at Stanlib joins CNBC Africa for more on what lies ahead for the sector in 2020.