The UK and EU have traditionally been strong economic partners of South Africa? Will the market troubles there exacerbate any issues in South Africa?
1 comment:
Anonymous
said...
An anecdote: I regularly check the property market in the area I currently live in the UK (North East Scotland) and the area I used to live in in Cape Town (Southern Suburbs). I am seeing larger falls in prices (10%-25%) in the Cape Town area than in the UK (5%-10%). The market here has stagnated completely at present - there are double the number of properties for sale than at this time last year with very little being sold. There are newspaper articles daily concerning the imminent recession and the large % layoffs from building companies. I don't see the same pessimism yet on the Business day and Cape Times front pages.
1 comment:
An anecdote: I regularly check the property market in the area I currently live in the UK (North East Scotland) and the area I used to live in in Cape Town (Southern Suburbs). I am seeing larger falls in prices (10%-25%) in the Cape Town area than in the UK (5%-10%). The market here has stagnated completely at present - there are double the number of properties for sale than at this time last year with very little being sold. There are newspaper articles daily concerning the imminent recession and the large % layoffs from building companies. I don't see the same pessimism yet on the Business day and Cape Times front pages.
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