What a Week – Top News Highlights!
Happy Friday, everyone! We’ve had an action-packed week with plenty of news to keep us on our toes.
First up, Donald Trump has been appointed as the 47th US President. While his victory could have short-term implications for the rand, JSE, and South Africa's economy, the longer-term impact remains to be seen, especially with his hardline policies on trade rivals like China and AGOA. We’ll be keeping a close eye on developments – stay tuned!
In property news, we're seeing a shift in the private buy-to-let market. There’s a noticeable decline in investors buying in their own names, with more opting for companies and trusts. It seems the more than 3-property owners are exploring other opportunities. Curious? Get the full details here.
The latest TPN report shows rental escalations have slowed to 4.29% in Q2 2024, as landlords make adjustments to keep vacancies at bay. Additionally, squatting rates have increased to 3.71%, highlighting the growing challenge of non-paying tenants for property managers and investors. Want the full scoop? Download the report here.
On a more positive note, REITs are enjoying impressive recoveries, with returns soaring over 50% in 2024. This indicates a rising confidence in the commercial property market, driven by economic recovery and fewer load-shedding disruptions. Great news for the sector!
A special shout-out to Newinbosch Neighbourhood Estate in Stellenbosch, which won the Transforming Tomorrow award for its exceptional work in asset design. It’s inspiring to see such forward-thinking developments shaping our future.
Don’t forget to join us next Thursday for an exciting webinar at 12:00 PM on ‘The Construction Mafia in South Africa: Risks and Implications for Property Developers, Investors, and Security.’ Be sure to click here and book your spot!
And of course, let’s all support our Boks as they take on Scotland this Sunday evening. It’s a great time to be a South African
Together ,we’re shaping the future!
NEALE PETERSEN
Your Property Afficionado
