House prices and sales have slumped countrywide, except in parts of the Western Cape, since the 2009 recession, which coincided with the start of Jacob Zuma’s presidency and years of economic and moral decline.
Property developers believe the strong capital appreciation in Hillbrow’s property market will drive the demand for apartments among buyers. This has prompted property developers to erect construction cranes and build new flats in the inner-city suburb for the first time since the 1980s. Present-day Hillbrow is at the forefront of South Africa’s social challenges: There is a high incidence of unemployment, refugee influx, degradation, drug dealing and crime. But this has not discouraged property investors.
These developments are no flash in the pan as savvy developers have been investing consistently in the inner city for several years, refurbishing buildings and establishing neighbourhood improvement districts. Hillbrow’s positioning in the inner city is a developer’s dream. It is abundantly supplied with public transport , making access to northern suburbs easier. This is important, especially in a country such as South Africa, which faces a deeply worrying spatial inequality that sees people spending an inordinate amount of time and money to travel from home to work — a stubborn legacy of apartheid and the 1950 Group Areas Act.
Indluplace owns a portfolio of properties worth more than R4-billion, of which a third comprises residential flats in inner-city areas such as Hillbrow, Berea and suburbs on the eastern edge, such as Bellevue, Yeoville and Troyeville. Indluplace was an early backer of Hillbrow.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Business Maverick: Trump Picks Two Fed Nominees Likely to Support Easier PolicyAfter a yearlong assault on the Federal Reserve and its chairman, President Donald Trump has tapped two wildly different economists to the central bank’s board who seemingly have one important thing in common. They’re both likely to support the president’s call for lower interest rates.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Lagarde’s Exit Reopens the Question: Why Does a European Always Lead the IMF?Christine Lagarde’s premature exit from the International Monetary Fund would spark a fresh debate in global capitals over whether to maintain the tradition of appointing a European as its leader or look to an emerging market for the first time. 😔😭 Are you sure you want to get to the bottom of that question...
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Tesla Soars as Model 3 Paces Record Quarter of DeliveriesTesla Inc. shares surged in late trading as a record quarter of deliveries alleviated the worst fears about demand for the Elon Musk-led company’s electric vehicles.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: It’s official: Steinhoff is going hammer and tongs for JoosteTroubled retailer Steinhoff is suing former chief executive Markus Jooste and former chief financial officer Ben la Grange to recover salary and bonus payments. Lawyers are likely to be the only winners here. So they should the bloke is a fraud and thief
Source: dailymaverick - 🏆 3. / 84 Read more »
MAVERICK LIFE – DESIGN: A hot young talent with designs on business successAward-winning interior designer and young businesswoman Thabisa Mjo paves her way as a design entrepreneur mixing authenticity and creativity in her work.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK ANALYSIS: Why Shamila Batohi needs more moneyAfter years of hearing about corruption, reading about it, discussing it and debating it, South Africans are yearning for just one major corruption case to be brought to court and the culprits to be marched off in orange overalls. Government’s overall budget is massively stretched, but isn’t the National Prosecuting Authority (NPA) one area which really does need more money? What will you do about this tito_mboweni ? NPA_Prosecutes PresidencyZA Tsek!!! U deserve to be boycotted This new dawn crap we are still waiting for you to connect the dots and arrest criminals.
Source: dailymaverick - 🏆 3. / 84 Read more »