Happy Friday – What a Week at REI!
In a move we anticipated, the South African Reserve Bank has cut the prime lending rate from 11.75% to 11.5%, marking the first reduction since November 2021. Property owners and landlords can breathe a little easier as the repo rate drops to 8%, providing welcome financial relief. While some experts call for a more aggressive cut, the industry is buzzing with optimism
The glamorous 2024 Investor of the Year Awards lit up Johannesburg last weekend, and I was honoured to be on the judging panel. The quality of entries was the highest yet, with 10 categories celebrating outstanding achievements. Keep an eye on Real Estate Investor Magazine for upcoming features on these inspiring winners.
REI also attended the Morningstar Conference and API Summit this week to bring you the latest trends in financial services, hospitality, and Proptech. Stay tuned for key insights!
Have a fantastic restful, sporting, and property-filled weekend!
NEALE PETERSEN
Your Property Afficionado
