INVESTMENT: Realtors Turn Attention To IPD Index
Recent Western Cape Business News
On Wednesday 31 March 2010, the South African real estate community will come together to analyse the 2009 SAPOA/IPD South Africa Property Index results for direct investment property.
The first analysis of the drivers behind the headline investment performance of South African real estate will be provided by IPD at two events, to be held in Johannesburg and Cape Town sponsored by Eris Property Group.
Given the market context, the state of the domestic economy and the relationship between the global downturn and real estate markets, the results themselves are likely to provoke much debate and analysis among investors, both national and global.
Compared to other major global property markets, South Africa appears to have been relatively resilient following plummeting property values and rising yields internationally. While the UK market seems to have passed its nadir, returns in many other markets still appear to be declining further, notably the US.
“Pressure on income; including, severe operating cost increases and tougher debt conditions will have impacted returns,” explains IPD SA managing director Stan Garrun. “South Africa lags the international cycle and the tentative signs of recovery in the economy have not yet filtered through.”
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