SA property market grows to R5.8trn
Cape Town – The South African property sector is worth R5.8trn according to results from the latest study undertaken to determine the size of the country’s property sector.
The Property Sector Charter Council released a reviewed market size estimation this week that provides a snapshot of the South African Property Sector using figures from the financial year 2014/2015.
It reveals the property sector’s size at R5.3trn with a further R520bn land officially zoned for commercial and residential development. The study was compiled by MSCI for the Property Sector Charter Council.
This report builds on baseline research that measured the size of the property market in SA at a massive R4.9trn at the end of 2010. It shows a meaningful increase of nearly R1trn in four years.
The study also supplements the Property Sector Charter Council SA Property Sector Economic Impact Report that estimates the property sector’s contribution to GDP at a significant R191.4bn in 2012 in terms of annual income and expenditure flows generated by the sector and a R46.5bn contribution to the fiscus.
The research is part of a larger project by the council, which provides a point of departure against which various transformation charter imperatives can be assessed.
