Another solid year expected

Posted On Wednesday, 01 February 2006 02:00 Published by eProp Commercial Property News
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The listed property sector and the property industry as a whole have experienced a major boom over the past few years, with analysts expecting another solid year from this asset class.

Angelique de RauvilleProperty players have put stable interest rates and continued economic growth high on their wish lists for this year.

More specifically for the listed property sector, there is a desire to see more properties being sold into the listed sector and some of the larger unlisted property funds considering listing on the JSE.

Angelique de Rauville, MD of Investec Listed Property Investments, says her firm would like to see more properties sold into the listed sector from private clients, institutions and corporations.

De Rauville says it would like to see a property such as the Victoria & Alfred Waterfront come into the listed property sector, either to list separately or to be sold into one of the existing funds.

She says Investec Listed Property Investments would also like to see unlisted property companies such as Attfund and Zenprop list.

A challenge that has faced the industry over the past few years has been transfer delays due to backlogs at local councils’ transfer offices.

"We would prefer to see a more expedient transfer of properties and the backlog … being cleared," says De Rauville.

Property economist Francois Viruly says local government will continue to play an important role in the industry. It is the level of government with which the sector interacts most as it is at that level that town planning decisions get taken.

"It … provides the infrastructure that the property sector relies on. When we say for example that property is about location, location is determined by delivery of local government. You can have the best location, but if you don’t have transport accessibility and power and utilities, it can severely affect the attractiveness of a location.

"There will be increasing competition between land used for residential property development and land used for commercial purposes.

"It will be a challenge for local authorities to achieve a mix of those two types of development to ensure the optimal use of land."

Viruly says he would not be surprised to see developers choosing municipalities for their efficiency ability to interact with developers.

Last modified on Thursday, 08 May 2014 15:39

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