During the second quarter of 2022, the TPN Residential Rental Monitor indicated that there are concerns about the state of the property market, which is balancing a fine line between demand shifts and the ability of consumers to rent any formal accommodation.
While there are economic challenges in the world today, tenants are still paying their monthly rental obligations in good standing. This number improved from 80.78% in the first six months of the year to 82.22% in the second quarter. The credit bureau added, “The rental bracket of this category typically experiences a drop in the second quarter of every year — with the exception of the second quarter in 2019, 2020 and 2021 — but it then strengthens again in the third quarter.”
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Every landlord forgot we just come out of lockdown .. Some of them are overpriced
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Good news for the rental market in South Africa – except the wealthy segmentRental payments remain a high priority in South Africa, despite the economic challenges faced by tenants, notes TPN Credit Bureau.
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Nigeria Exploring Debt Restructure - Finance MinisterNigeria is considering restructuring its debt and extending the repayment period of its credit obligations. In a recent interview, Finance Minister Zainab Ahmed said the government has appointed consultants for advice on its rising debt-service burden. The minister said that the government also plans to refinance domestic debt obligations that are due this year and in 2023, while the country's U.S.$45.4 billion in outstanding borrowings from the central bank will be bundled into government bonds. "It is a fact that Nigeria's debt has increased over the last three to four years", the minister said. She added that the debt increases were as a result of various exogenous shocks that the country faced. The minister also disclosed that the country was considering borrowing from the recent window created by the IMF Food Security Package for countries facing urgent balance-of-payment needs related to the global food crisis. The new window would be available for a year to provide additional access to emergency financing for countries facing urgent balance-of-payment needs related to the global food crisis.
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