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Real Estate in Southern Africa

  • Namibia: FNB Housing Volume and Value Index Retreated

    NAMIBIA, 2016/02/08 In the new FNB housing index Daniel Kavishe, Market Research Manager, FNB Group advises that the FNB volume and price index retreated in the eve of the fourth quarter 2015 as the housing market eased across the country. He added that the deeds office recorded a 40% drop in transactions year-on-time(y-o-y) due to a slowdown in purchases in the Northern and Central town. Transaction increase at the Coast remained steady at 10% y-o-y supported by development in Swakopmund while in the South, transactions at Luderitz doubled due to the low cost developments in Luderitz's Benguela area.
  • South African REITs outperform other assets

    SOUTH AFRICA, 2015/12/26 While real estate investment trusts (REITs) are relative newcomers to the South African market, with the regime governing the investment vehicle initial codified in 2013, they have outperformed other classes of assets in recent months. Looking ahead, the residential component of the property market, which has from presently on to be tapped by REITs, is expected to offer new opportunities for increase and provide a further boost to the investment appeal of trusts. Bucking economic trends REITs posted the highest year-to-date (YTD) return on investment (ROI) of any investment class in South Africa in October. Returns reached 15.6%, with a year-on-time(y-o-y) ROI of 20.2%, according to Cape Town-based Catalyst Fund Managers. Equities, meanwhile, posted YTD returns of 11.3%, with bonds trailing at 4%. Laurence Rapp, chairman of the SA REIT Association, which represents all listed REITs, said the segment had continued to gather momentum in terms of both earnings and capitalisation, despite the slower economic backdrop.
  • $50 Million Hotel Scam in Zimbabwe

    ZIMBABWE, 2014/02/23 The National Social Security Authority (NSSA) has become the new public entity to be rocked by allegations of graft, next it emerged Friday that the authority is embroiled in a $50 million dollar scam. Reports said the cost of a hotel built by NSSA in the border town of Beitbridge grew from $17m to $50m, in suspicious circumstances. The Herald said NSSA, which was awarded the $17m tender to build Rainbow Beitbridge Hotel on the basis that it had the money to finance the project, ended up using pensioners' funds to hire a construction firm. The development comes at a time at the same time as NSSA officials were due to appear before the parliamentary portfolio committee on public accounts next Monday to answer questions on other issues. But committee member Paurina Mpariwa told SW Radio Africa that the new scam will be 'top of the schedule.'
  • Hilltop Estate Development On Target in Namibia

    NAMIBIA, 2013/10/27 Earthworks have started on the Hilltop Estate development in Kleine Kuppe, where Demushuwa Property Developers are developing a shopping mall, private hospital, medical suites, and luxury apartments. The principal agent, Howard & Chamberlain Architects, have handed the site to contractors at the Lady Pohamba Private Hospital and the newly planned Pupkewitz MegaCentre. "We are pleased to announce that the earthworks will start at the Pupkewitz MegaCentre site and the construction will presently commence at the Lady Pohamba Private Hospital site," said Desmond Howard, director at Demushuwa Property Developers. The final completion and opening at both sites are scheduled for early 2015.
  • Global Commercial Investments Exceeding Forecasts

    EUROPE, 2013/10/08 World commercial real estate volumes were 16 % higher during the initial three quarters of 2013 compared to the same period last year, as the market continues to surpass expectations. Direct commercial world real estate investments reached $125 billion during the third quarter, increasing three % from the previous quarter and 25 % from last year, according to Jones Lang LaSalle, which tracks 60 nations and additional than 130 world cities. World transaction volumes have been higher than $100 billion for six consecutive quarters, prompting JLL to increase its 2013 projected transaction volumes from $450-$500 billion to $475-$500 billion.
  • World Habitat Day: UN officials call for improved urban resilience, mobility

    WESTERN ASIA, 2013/10/08 Un officials have stressed the need to ensure that cities become additional resilient to natural disasters inclunding provide their citizens with methods of alternative transportation to thrive. The PANA Correspondent in New York reported that the officials made the call in messages to mark the World Habitat Day, observed annually on the initial Monday of October. In his message, UN Secretary-General Ban Ki-moon stated: 'As the effects of climate change increase, urban resilience becomes ever additional necessary.' He said: 'All actors need to work together to save lives, protect assets and guarantee services at the same time as disasters strike', saying that, 'planning is essential to boost the resilience of cities.'
  • Zimbabwe’s Real Estate Market

    ZIMBABWE, 2013/06/01 Zimbabwe has been facing political and financial turmoil for additional than a decade, derailing the government’s ability to function and respond to crises, adding pressure to the country’s real estate sector. A recent Economic Statement for Africa mentioned that Zimbabwe is presently ranked part the top 10 economic performers in Africa. While this is good news, what does this mean particularly to those South African retail companies that are looking into investing in the country.
  • Property Investment performance in Botswana launched

    BOTSWANA, 2013/03/26 Investment Property Databank (IPD) released its prime-ever Botswana property performance statement in Gaborone today. The IPD Botswana Property Performance Statement for the year to December 2011 produced a total return of 20.9%. This figure represents the ungeared total return to due held standing property investments from one open market valuation to the next.
  • Namibia’s major single commercial property development

    NAMIBIA, 2013/03/26 The countrywide boom in the real estate sector is presently visible in Namibia, particularly in Windhoek, which any minute at this time will be getting a major commercial property development, the 54,000m² Mall of Namibia - The Grove.
  • SA struggling for home loans

    SOUTH AFRICA, 2013/02/08 The deteriorating creditworthiness and affordability among South Africans has affected the appetite for advance loans for affordable houses, according to Nedbank’s affordable-housing head Jeff Lawrence. Among the worst affected were those earning between R3501 and R15 000; they have been falling through the cracks when it comes to qualifying for mortgage finance.