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'Opportunities exist' in South African commercial property market

Date : (News Section: South Africa)

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'Opportunities exist' in South African commercial property market There are significant opportunities for investment in South Africa's commercial real estate sector.

Speaking to the Bizcommunity website, chief financial officer of Tintswalo Property Group Gaye Corbett said she is optimistic about the future of the industry, following "impressive results" in some of the country's markets over the past few years.

Among the top performing locations are Johannesburg and Cape Town, both of which have experienced strong capital value growth in the last decade.

"We maintain that substantial opportunities will gradually become available in the near future - including greater viability of the property market in other provinces," Mrs Corbett asserted.

Last month, Gary Palmer, chief executive officer of Paragon Lending Solutions, told All Africa that one of the biggest barriers to commercial real estate investment in South Africa is funding.

He stressed that secondary, secured lenders are vital to the industry if projects are to receive asset-backed financing, as many of the large banks are unwilling to provide the necessary loans in the current economic climate.
 

Article by +Danny Bance on behalf of Propertyshowrooms.com News Desk ()

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