• Road to riches

    Taxpayers keep funding structures with big plans but who knows what efficacy, says Mandi Smallhorne.

  • Don't fall for Ponzi scams

    An expert unpacks the tell-tale signs to watch out for.

  • Inside Labour

    A smokescreen of misleading rhetoric won't make SA's problems go away, says Terry Bell.

See More

SA property worth trillions

Sep 18 2012 18:39 Sapa

Related Articles

Vunani Property increases revenue

Hout Bay castle sells for R23m

AfriForum to probe Mathale

Sharemax et al: brokers to pay up

Gauteng to rent despite owning property

Global housing market declines further

Johannesburg - The South African property sector is worth R4.9 trillion, the Property Sector Charter Council said on Tuesday.
CEO Portia Tau-Sekati said this emerged from a new study to determine the size and value of South Africa's property.
"Establishing the scope of the property sector is important for an accurate overview of the economy, taking into account that in 2009 the property sector contributed 8.3% of SA's GDP," she said.
She said the research - the first of its kind - created a "hub of knowledge" of the property sector.
It consolidated information by developing a common and consistent understanding of property in the country.
"We are moving towards a proper baseline measure to assess market size and its components," she said.
"The scale of different services and activities within the sector and ultimately BEE transformation figures (are) in line with the Property Sector Code scorecard."
The study found that 1% of land in the country was urban and residential, over 73% was natural pasture, and 12% agricultural.
Two-thirds of property owned in South Africa was residential and estimated to be worth R3 trillion, while the commercial property totalled R780bn.
The research combined various studies which estimated the size of the country's residential market.
The number of houses in the country varied between eight and 13 million in the studies.
"Besides being a benchmark to monitor and evaluate the progress of transformation of the sector each year, this study marks the beginning of an ongoing research process, which will update information on the property sector annually," Tau-Sekati said
The study would be a useful tool for understanding the South African property market and its dynamics, she said.

*Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.



Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Add your comment
Comment 0 characters remaining

Company Snapshot

We're talking about:


Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

People who fall victim to Ponzi scams are:

Previous results · Suggest a vote