Find a safe haven in property in these uncertain times

Responding to the repo rate hike of 75 basis points, High Street Auctions director Greg Dart says the government is placing the South African economy in an extremely perilous position.

“Load shedding isn’t the exception anymore, it’s the norm, and it’s costing South Africa an estimated R4 billion a day. “How can the private sector sustain itself and its workforce under these conditions, especially given the added pressure of headline inflation remaining high and growth forecasts diminishing almost daily? “The government clearly has to hedge against inflation, but that must be weighed against what the population can bear without the economy going into freefall. Where is the government going to draw the line; a line it should have thought to draw five years ago?”

It’s clear the corporate sector is going to have to look inwards to safeguard commerce and employment.

“Investment in uninterrupted power supplies will be costly in the short term, but essential to longterm commercial sustainability.

“The private sector should also actively promote partnerships to boost technological development that will broaden our market horizons and capitalise on the international appetite for generous forex purchasing power. South Africa is open for business and we need to tell the world.” Dart says with such economic uncertainty, investors should be looking at property as a safe haven long-term investment. “Real estate is a tangible asset. It’s bricks and mortar. Anyone with funds at their disposal right now should consider the value of property, which is likelier to deliver far greater returns in the long term than other investments.” –

Real Estate is a tangible asset