Covid-19 – Assessing Impact Of SA Real Estate
There are many articles being written and webinars taking place with debates about the short and potential longer term impacts of Covid-19, not least as it pertains to real estate. Whilst much of the focus is on more established markets, the emerging markets in sub-Saharan Africa have greater underlying vulnerability and present both magnified and different challenges, with potentially deeper and more longer-term impacts.
Whilst we would all like to have a crystal ball to see into the future and what it holds, there remains significant uncertainty as to what the new normal will look like and when that will be. However, there are a broad-range of discernible impacts, both in the immediate short-term (6 months) and into the longer term (> 12 months), as well as conjecture as to the future “new normal”, not least in a post-vaccine environment.
This House View document provides a high-level overview of some of the key short and longer term impacts, in an easily digestible format. We have taken soundings from Investor and Occupier clients and other stakeholders, as well as across a broad spectrum of CBRE Excellerate professionals in advisory, transactions, valuations, property management and project management. The focus is principally on South Africa, however many of the impacts, trends and characteristics are equally applicable across the sub-Saharan Africa economies and property markets as a whole.
We continue to work proactively with our clients across the continent in responding to the impacts of Covid-19, identifying initiatives, opportunities and solutions to address both new challenges and previous issues which have become magnified in recent months. We look forward to sharing more insights as the journey progresses.