The Month In Review
We’ve made it through January, and it has been an unusual start to the year – for everybody! The 2nd wave of Corona impacted us too, with one family having 2 members down and two of our marketing team members affected.
As far as the commercial property market is concerned, it is also stretched with share prices flat in January after a sharp decline last year. FNB is expecting a small recovery in the commercial property sector in 2021.
The Commercial Exchange team did manage to finalize the sale of a property we have struggled with for some time in the Sandton CBD, closing at R9 million. We also saw the transfer of 3 transactions concluded in the latter part of 2020.
A number of new interesting properties have come into the market, particularly in the high-density residential development space for Morningside as well as Lanseria.
We anticipate a tough year for the industry as a whole, with the overall economy struggling – but where other see obstacles, we see opportunities.
If you’re a property investor, these are good options to look at:
- Discount zoned development land
- Unit trust companies selling off office space that can be repurposed for alternative use