PODCAST | Energy uncertainty signals a shift in SA property market

The impact of interest rates and energy uncertainly on SA’s property market is the focus of this edition of the Business Day Spotlight.

Our host Mudiwa Gavaza is joined by Mitesh Bhawan, MD of Broll Property’s energy, water and sustainability division. 

The discussion starts by focusing on how the real estate sector performed in the first quarter of 2023 compared with earlier predictions, and trends that have emerged in the period. 

In assessing emerging trends Bhawan says energy and sustainability are issues that have risen in importance for the local property sector. This is mainly due to the ongoing crisis of electricity uncertainty, which has resulted in rolling daily power outages.

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Bhawan explains that property developers and managers now have to be aware of and control their power usage and needs. While many commercial properties have power systems such as solar and diesel generators, these were mainly intended as backup in the case of emergency. 

As load-shedding becomes a normal part of operating, such systems have to be rethought, also taking into consideration new technologies and efficiency, the energy says. 

Topics of discussion include: the state of SA’s property market in the first quarter of the year; implications of a high interest environment on the sector; and the impact of power cuts on effective property management practices. 

Business Day Spotlight is a TimesLIVE Production.