The Covid-19 pandemic and rising interest rates have both impacted many people in South Africa. While both have affected incomes and affordability, buyer activity in certain property sectors remains robust. Urban Soup's Ray Harli observed that 'there are some positive signs that suggest a more optimistic outlook.
For one thing, there has been an increased interest in real estate investment from both domestic and international buyers - I believe the South African property market has the potential for growth and prosperity moving forward. Investors who approach the market with caution and a long-term perspective could see promising returns on their investments in the years to come.” Factors influencing the market “One significant factor that I believe will drive the property market is the growing trend of remote work… As more and more people realise that they can work effectively from anywhere, there is likely to be increased demand for properties that offer flexible working arrangement
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South African Post Office Business Rescue Plan Endorsed by CreditorsThe South African Post Office (Sapo) business rescue plan has been endorsed by creditors, but it includes substantial job cuts. Economist Dawie Roodt discusses the financial feasibility and sustainability of the plan, which has received R2.4 billion from National Treasury.
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