State Of Transformation Report For The South African Property Sector 2017/2018

Description

South Africa's (SA's) economy was traditionally rooted in primary sectors as a result of a wealth of mineral resources and favourable agricultural conditions. However, recent decades have seen a structural shift in output.

Since the early 1990s, economic growth has been driven mainly by the tertiary sector, and now SA is moving towards becoming a knowledge-based economy, with a greater focus on technology, e-commerce as well as financial and other services. The financial sector is among the key sectors that contribute significantly to SA's gross domestic product (GDP) and keepingSA’s economic engine running.

The property sector or real estate is currently classified under financial and business services. The financial, real estate and business service sector accounted for 22% of the country's real value added (value of total production) in 2006 and, together with other services sectors, has proved to be a pillar of the country's economic growth over the years. The property sector plays a critical part at an individual level, business and other areas in the SA economy.

South Africa's (SA's) economy was traditionally rooted in primary sectors as a result of a wealth of mineral resources and favourable agricultural conditions. However, recent decades have seen a structural shift in output.

Since the early 1990s, economic growth has been driven mainly by the tertiary sector, and now SA is moving towards becoming a knowledge-based economy, with a greater focus on technology, e-commerce as well as financial and other services. The financial sector is among the key sectors that contribute significantly to SA's gross domestic product (GDP) and keepingSA’s economic engine running.

The property sector or real estate is currently classified under financial and business services. The financial, real estate and business service sector accounted for 22% of the country's real value added (value of total production) in 2006 and, together with other services sectors, has proved to be a pillar of the country's economic growth over the years. The property sector plays a critical part at an individual level, business and other areas in the SA economy.