Latest News & Developments
South Africa's Finance Minister announces a phased 1% VAT increase over two years, drawing mixed reactions from leading economists. While some praise the fiscal consolidation efforts, others criticize the 'messy' implementation and impact on consumers.
In a bold statement on an EFF podcast, an independent economist has urged for the resignation of the Finance Minister ahead of the March Budget Speech.
The cancellation of South Africa's 2025 Budget Speech due to internal disputes within the Government National Unity raises concerns about the coalition's stability and the country's economic future.
As South Africa approaches the highly anticipated budget speech, economists, Dawie Roodt and Ulricht Joubert, have painted a bleak picture of the country’s economic future, warning that the Minister of Finance faces a difficult and challenging task ahead.
“Despite experiencing drought conditions for much of 2024, we expect a rebound in agriculture thanks to improved rainfall patterns across many regions,” he said.
In his SoNA 2025, President Cyril Ramaphosa said they will set up a transformation fund worth R20 billion a year over the next five years to fund black-owned and small business enterprises.
Added to that, inconsistency of service delivery has imposed additional costs on property owners, who are forced to invest in alternative electricity supplies and water backups, among other solutions.
The effect of rising transport costs directly impacts household budgets and the disposable income available for home loans and costs associated with purchasing property, says property expert.
While land reform remains a crucial national imperative, the new Expropriation Act introduces significant risks that could undermine property rights, deter investment, and create economic uncertainty - Sapoa
Just hours before President Ramaphosa is set to address South Africans in the SONA, many South Africans still don’t even have title deeds to their homes - which means they will never be able to create generational wealth. Added to that ailing municipalities and clunky red tape is hampering the affordable housing sector and White Papers don’t address important sectors.
Professor François Viruly, University of Cape Town associate professor and director of the Urban Real Estate Research Unit, said it is becoming increasingly clear that delivery of housing by different tiers of government does not meet the required demand.
And, retail developments are likely to follow in areas where residential growth occurs, says economist John Loos.
In a response to Independent Media Property enquiry, the estate agency’s CEO Richard Gray, said if municipalities continue to fail in this respect, it will directly impact the value of properties, affordability and the availability of housing a few years down the line.
Pick n Pay's latest trading update reveals a tale of two retailers: while Boxer demonstrates remarkable 11. 4% growth, the core Pick n Pay brand faces ongoing challenges amid its transformation journey.
The new Act is very specific in terms of the conditions for expropriation, and, importantly, the protection of the “property clause” under Section 25 of the Constitution remains in place, says Seeff. Others agree, saying it is not, on the face of it, the disaster some say it is.
Trump has sent shock waves through the international markets and his actions could lead to disruptions in global trade, reshape supply chains, and send investors scrambling to reassess their strategies.
Academic says no case for optimism regarding the economy’s outlook based on the most recent interest rate cut but property group says it will bring relief.
Don’t forget to fill up your tanks tomorrow as a steep petrol price increase is on the cards
A saving of a mere R170 for those owning a R1m home, will hardly make a dent in the pockets of hard-hit South African consumers.
2025 may not pan out to be the year of major interest rate cuts, but there is still some hope for a better year in the property sector, say economists and property experts.
An interest rate cut is likely this week, say economists, but will it be enough to get consumers to buy property?
Ithala SOC stands as a crucial partner in KwaZulu-Natal’s economic development, despite facing significant legal challenges that threaten its future.
Speaking to Independent Media Property recently, Neil Gopal, CEO of SAPOA (South African Property Owners Association), said despite recent positive trends in the property market, the ongoing issues at the municipal level threaten to possibly derail the commercial and industrial property sector’s recovery.
The survey suggests that although some structural economic impediments may be resolved, the poor economic performance at present is preventing trade from reaching its more optimal potential.
Survé reveals how WEF 2025 could transform South Africa's technological landscape, boost youth entrepreneurship, and advance climate solutions. Learn how AI innovation and global partnerships could reshape the nation's future.