South Africa Real Estate Report Q3 2014

Business Monitor International
May 14, 2014
70 Pages - SKU: BMI5247068
Countries covered: South Africa

South Africa Real Estate Report Q3 2014

BMI View: We believe that the real estate sector in South Africa will remain stable but the market willcontinue to face pressure in different forms. This includes tepid growth, faltering macroeconomicconditions, a volatile currency and inflation. BMI sees the South African economy posting moderate growthwith real GDP expanding by just 2.2% in 2014. Despite these pressures, the real estate market in SouthAfrica remains one of the most profitable and attractive in the region.

South Africa's economic prospects have weakened due to inflation, inability to address corruption andweakening foreign investor confidence. Foreign direct investment into South Africa dropped to USD4bn in2012 from USD6bn in 2011, according to the latest data by the United Nations Conference on Trade andDevelopment. In order to consolidate support for the upcoming election cycle, the ruling African NationalCongress has passed bills that set quotas for local ownership in the private security and mining industries.

Ongoing labour disputes in the country's key mining industry have also adversely impacted economicgrowth. Poor economic growth affects the sector as it dampens both property fundamentals and capitalmarkets, putting downwards pressure upon tenant retentions, rental growth, yields, development activity,financing and asset values.



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