Many experts are talking about a 10-year recovery period for our economy
It seems the next decade will be tough going but optimists within the industry predict a strong uptick after that in the property sector and the economy.
While tough times have seen some locals consider leaving our shores, there are others who believe South Africa is a country full of potential and that if you’re willing to take the ride for the next decade you will be richly rewarded.
For those with cash or access to bonds, buying property during these times makes sense, as history has shown as much as things go down they will most certainly go up again. The W scenario — or the rollercoaster scene — is the one most predicted for the next few years.
Many a fortune has been made by the wise investor with guts (and some money) in recessionary times.
On the other hand, there are those who are really struggling to hold onto a roof over their head, and this means some really innovative ways will have to be found to keep South Africans housed.
Not only that but a growing housing issue, with more people without homes or access to homes, calls on the industry to assist with the promise of housing for all.
Already we are seeing developers step up in the affordable housing scene.
There are many big opportunities for doing things differently, and possibly better, in these unusual times — both for individuals and the property industry.
I’m excited about the things we are yet to discover and create.
Warm regards
Vivian Warby
vivian.warby@inl.co.za