PROP­ERTY WAIT­ING FOR 2019 28.58%

Finweek English Edition - - In Brief -

Ac­cord­ing to Busi­ness Day, the SA Listed Prop­erty (SAPY) in­dex has al­ready lost 28.85% this year, due to what the pa­per called “weak eco­nomic growth, low busi­ness con­fi­dence, strug­gling con­sumers and the sell-off in the Re­silient group of com­pa­nies”. The lat­ter lost R120bn in mar­ket cap­i­tal­i­sa­tion when it ex­pe­ri­enced a share price col­lapse at the be­gin­ning of the year. Ac­cord­ing to the pa­per, as­set man­agers are ex­pect­ing the sec­tor to re­cover next year, with Gar­ret El­ston from Reit­way Global ex­pect­ing a to­tal re­turn of be­tween 10% and 15%.

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