Real Estate and the Economy | What can SA expect?
With the national house price inflation forecast at just above 2% at the end of October, the industry as a whole may be wondering what to expect as we wind down 2020.
From forecasts of property market oversupply with an expected 'wave of distressed properties', the property market will continue to play an important role in boosting the economy - with few realising the extent to which real estate activity contributes to the South African GDP.
"Recent estimates place this figure as high as R191-billion, with a R46-billion direct contribution to national revenue. In light of the havoc that Covid-19 has wreaked on the South African economy, a contribution of this scale is nothing to be sneezed at, " says Schalk van der Merwe, franchisee for the Rawson Properties Helderberg Group.
He suggests there are still a few hurdles to be faced for real estate to reach its full potential as a force for good on the country’s path to economic recovery.
Emerging property trends for 2021 | Low interest rates will continue to drive the market
Industry experts share their insights into trends shaping the property market outlook for the new year ahead.
COVID-19 has accelerated change in the property industry, focusing sharply on safety, socio-economic disparity, and wellness amid a backdrop of global economic uncertainty. A PWC report highlights how the year ahead will be "a crucial moment" to showcase leadership and drive change.
The US report details how the pandemic has accelerated many existing trends like "retail footprint reductions, while it spawned new ones such as an increased focus on social justice and health and wellness, and stopped others in their tracks like the appeal of big cities".
Byron Carlock, PwC Partner and US Real Estate Practice Leader says, “Now, more than ever, the real estate industry has the chance to take the lead in using planning and development skills and investment capital to reshape our work and lifestyle environments. These tools can be used to address societal issues of safety, green space and racial equity. The gauntlet of responsibility is ours to embrace, and industry leaders see the opportunities and are responding with investment and leadership..
Survey reveals what workers want from the post-Covid-19 office
If 2020 has taught us anything, it’s that people have proven productive while working from home. And while they are increasingly keen to return to the office, it has also shown up just how the offices should adapt according to new research.
Linda Trim, Director at Giant Leap, one of South Africa’s largest workplace design specialists said the question is how to modify the physical office as a place for culture, connection, community-building, and innovation while still allowing for that flexibility. “When we design for connection and communication, then people’s individual experiences in the workplace becomes the most important measure of success,” she said.
Based on our research, here are six strategies and considerations that will shape the future workplace:
The office should remain mostly open
Despite concerns about the pandemic, 71% of workers we surveyed would like to go back to a mostly open office. Through our research over the years, we have found that mostly-open environments with on-demand privacy — like phone rooms or focus rooms — are most desired by employees and return the highest effectiveness and satisfaction ratings.
Buying a home? 5 questions you must ask an estate agent when viewing a property
Buying a home is a complex and exciting process, and there are often hidden costs than just the purchase of property – so it is vital that you do your research and prepare upfront for a much smoother journey.
It is quite easy to get side-tracked by financing and transferring issues when buying a property, says Steve van Wyk from Seeff Centurion.
Therefore, he says it is essential to address the factors below long before the actual buying process starts - and ensure no surprises await you once the transaction has gone through.
These are the questions first-time buyers must ask estate agents: