The third quarter has brought an increase in business confidence among SA’s commercial property brokers, the FNB Commercial Property Broker Survey shows.
The survey, which assesses a sample of brokers in the country’s six major metros (City of Joburg and Ekurhuleni, Tshwane, eThekwini, Cape Town and Nelson Mandela Bay), reveals that 44% of respondents found business conditions “satisfactory”, marking a jump from the 30% in the previous quarter.
Confidence has been boosted by the recent political developments, particularly the positive sentiment generated by the business-friendly outcome of the recent government of national unity (GNU) elections and hopes for significant rate cuts.
The survey focused on brokers operating in the “owner-serviced” market, with many also involved in the developer and investor sectors. Respondents rated their perception of the buying and selling market activity levels on a scale of 1 to 10, with 10 being the strongest.
As the property sector seeks to capitalise on the evolving political arena, Itumeleng Mothibeli, newly appointed president of the SA Property Owners’ Association (Sapoa), has emphasised the importance of planning and real estate in building a better future for the country.
Speaking at Sapoa’s annual convention under the theme “Resilience: Charting the Course”, Mothibeli called on the industry to seize this moment of co-operation and progress.
“There’s a sense that we’re finally rowing together towards a better SA for all. We dare not waste this moment,” Mothibeli said, referencing the optimism about the GNU and the country’s broader improvements.
However, he acknowledged the challenges that remain, noting that too many South Africans still lack adequate housing, jobs, and education.
Mothibeli reiterated Sapoa’s commitment to shaping SA’s future through its strategic pillars: advocacy, thought leadership, mentorship and partnership building.
“The greatest cities the world has ever known were built on the power of planning and smart real estate development. We can do the same. Not only by how we invest capital but also through Sapoa’s strategic pillars of advocacy, thought leadership, mentorship, guidance, and nurturing partnerships.”
Among the key initiatives is a mentorship and education programme aimed at increasing employment absorption within the property sector. The programme shows an 80% absorption rate for interns, excluding those who pursue alternative paths, he said.
“We are all trying our best. This is good, but we can still do better,” Mothibeli said.
He expressed optimism that the year ahead will bring more opportunities to improve employment within the sector, thereby supporting the broader economy.
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