Real Estate Investor Magazine South Africa February 2016 | Page 48

COMMERCIAL

SA Commercial

Property Legislations

Impacting the South African Commercial Property Market
BY JOHN SHEPARD

T

here are very few, if any investment decisions
that can have such a massive impact on a
person’s financial well being as buying property.
For the large majority of the population who are able
to purchase property, it is likely to be the largest single
financial investment they ever make in their lifetime,
says Adrian Goslett, chief executive officer of RE/
MAX of Southern Africa.
“The fact that property is often a consumer’s largest
asset that accounts for possibly the biggest portion of
their personal wealth is true for both those who live in
South Africa as well as those abroad.”
In fact, a large portion of the South African
population value property ownership over nearly every
other kind of investment available to them. Bearing
this in mind, it is important to understand the various
factors that could influence the property market and
possibly impact on consumers realising their dreams of
becoming property owners, says Goslett.
He notes that there are a number of external
factors that affect the property market and change the
dynamics that aspiring homeowners find themselves
in. Knowing what to look for and how these factors
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FEBRUARY 016 SA Real Estate Investor

relate to the property market could assist consumers to
adapt and make the necessary changes in order to turn
their property ownership dream into a reality.
While a portion of factors that impact the market
and buying behavior stem from internal influences
such as a buyer’s needs, knowledge of the market and
their personal preferences, other external factors that
are beyond the consumer’s control will play a role.
Goslett explores some of the external factors that will
have an influence on the property market:

Legislation

Just as the introduction of the Consumer Protection
Act (CPA) proved government legislation