Property market is riding the Corona chaos wave
Category Blog
All great changes are preceded by chaos"- Deepak Chopra.
These were, indeed, wise words. Not least when considered against the Lockdown tsunami that has now rolled out across South Africa - and its residential property market - in the slipstream of the Corona-Virus chaos.
As much as the epidemic threatens our basic humanity - i.e. to hold, hug and kiss - we need to find a way to embrace the changes that confront us, rather than batten down the hatches, or hide in a hole and continue to be threatened....and then constantly complain about it.
Instead, we should rather focus on ferreting out, and consider pursuing, whatever positive opportunities and indicators do arise. After all, President Cyril Ramaphosa did say, in a recent Q and A session, that opportunities now exist to re-boot our country.
More active State-owned enterprises
In line with that, it has already become clear that activity is starting to gain momentum in some State-owned enterprises - which is good for sentiment.
For instance, power utility Eskom is back on its feet under new management, and now, thanks to a recent court judgement, it is no longer tainted by 'the Zuma-era claim that it was run by a 'Rogue Unit'.
The nose-diving South African Airways (SAA) seems set to be saved and re-emerge as a recalibrated national airline with specific focus on Africa.
The National Prosecuting Authority (NPA) could now be well poised to roll out some long-awaited consequences relating to the Zonda Inquiry cases.
The best time in a lifetime
Meanwhile, the current interest rate is reportedly at its lowest point in 50 years. So, now could well be the best time - in a lifetime - to buy a home in South Africa. Not least for first-time buyers.
Furthermore, the Rand has bounced back, and foreign investors are reportedly "streaming" back into South Africa. This is reflected in news of a R7-billion inflow of foreign investment in our country in the past month.
Author: Ronald Ennik
