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The optimism expressed on the direction of the economy and the property market post the Ramaphosa victory and SA’s dodging the debt downgrade appears to have faded. The economic realities of slow economic growth, a deeply divided society and the anxiety around the Expropriation without Compensation “debate” are increasingly taking centre stage. Economists, journalists, political analysts, politicians and event organisers are having a field day on the expropriation issue. Whilst the “debate” may make for engaging conversation, the backdrop of land invasions and violent protests, add deepen the anxiety.
SA and the world often take their cue from the US where commentators point to property prices having got dangerously ahead of inflation and an imminent correction. Similar opinions (sometimes supported by indicators) about the residential market in SA generally and in certain specific areas being overheated are also gaining popularity. Against this background it is hard to explain the insatiable demand for sectional title office and industrial units in key nodes across the country. Central Cape Town, North Durban/Umhlanga and the northern suburbs around Sandton continue to provide office investment opportunities for smaller investors or end users. Similarly high quality small and medium sized industrial units in prime locations are attracting record prices.
What many of these successful sectional title schemes have in common is that their locations are meticulously selected by astute developers. They are located in places that investors and end-users find extremely desirable places to locate their businesses.
Location, location, location!