Property News - March 2022
Welcome to our Property Investment Newsletter, the aim of which is to keep you up to date and informed as to the most recent property trends and news.
Please feel free to contact us with regards to all your Residential, Commercial and Industrial sales, lettings, auction and property management requirements. We look forward to being of service to you!
Portfolio Property Investments (PPI) is fully online via our Unique business platform that can be accessed by us as your agents, yourself as clients, your partners and you auditors “24/7” no matter where you may be.
The Covid-19 pandemic and its associated lockdowns and restrictions have impacted negatively on many businesses, and there has been much uncertainty as to whether commercial tenants of leased property are entitled to claim a remission of rental if their trading activities are curtailed.
Brokers continue to see all 3 major commercial property buying/ selling markets as substantially oversupplied, by segment the Office Market being the most oversupplied, and by major metro Johannesburg being the most oversupplied.
From wearing face masks in public to socializing from two meters apart, society is adapting to the rather unusual circumstances that have been brought about by COVID-19. As with all industries, real estate has had to adapt to the new normal across the globe.
Putin’s invasion of Ukraine has brought down a new iron curtain across Europe. Airspaces are closed, sanctions enacted, nuclear forces placed on standby, weapons piled into Ukraine, nearly a million refugees already… the second iron curtain is here. It is sharply dividing Russia and countries in its influence sphere from members of the North Atlantic Treaty Organisation (NATO) and the European Union (EU) (the two blocs are not the same). It is very unlikely that this curtain will fall down any time soon.
“… a property is an asset to enhance economic activity, growth and development…” (extract from preamble to the Property Practitioners Act)