As the second-biggest economy on the African continent, with an estimated population of 57.7 Million, South Africa is undoubtedly the powerhouse of the Sub-Sahara region. As South Africa’s economy has been hit by a recession, the COVID-19 pandemic in 2020 and the latest July 2021 destruction of property and looting, there is still optimistic sentiment in the commercial and industrial property sector comments Rainer Stenzhorn, of In2assets the commercial and industrial brokerage firm.
The latest upward trends since early 2021 in the warehouse and logistic sector is showing signs of meeting supply and demand, driven by the consumer. The economy may be weak currently, but the long-term outlook remains positive and growing and the latest huge increase in property transactions experienced at In2assets serves as a barometer of a market that is moving with foresight. South Africa has faced several economic and social challenges in the past, such as the global recession and increasing unemployment rates, but the country’s ability to overcome this is central to its survival.
The success of our economic and social recovery lies in all our hands including government, individuals, businesses – especially commercial and industrial operations which play a key role in growing the economy and providing employment. We, as citizens, owe it to ourselves and the future generations to dig deep and remind ourselves of the country’s power and tenacity.
Property will always be in demand, and it is at all times a good time to buy real estate. In fact, real wealth is created by buying when everyone else is selling and vice versa. Whilst many are talking about a recession, the market is strong, with increasing prices and volume of transactions. “South Africa has been through a variety of challenges before, but it is important to realise that when everything seems to be falling apart, our true strength lies in our resilience and pulling together”, concludes Stenzhorn in his statement.