Renprop Commercial grows despite market forces

During the past five years the South African commercial property market has been in the doldrums. This is according to Mike Walters, Divisional Head of Renprop Commercial. “Although we did not reach the same lows that Europe and the US did in 2008, we have also not seen the same level of recovery as the US is currently seeing,” he says.

On a macro level, Southern Africa is still attracting multinational investment as a launch pad for the continent. But, says Walters, it’s anyone’s guess as to how long will this last now that Nigeria has taken over the top position.  

Predictions for property in 2013

Chris Renecle: MD, Renprop

While there are signs of recovery in the traditional market where homes are typically priced between R800 000 and R1,5million, access to finance remains a challenge in the current property market place, especially in those market sectors that rely heavily on 100% bonds.

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