Here we are in South Africa, on day 88 of lockdown in the year 2020. It sounds weird the way I am saying it, but ‘weird’ is an apt description of what we are going through at the moment.
The Corona Virus that infected the world at the end of 2019, has spread across the entire world. The reaction of the majority of the countries was to declare a lockdown of the country, resulting in people being contained to their homes in order to curtail the spreading of the virus.
The countries are now emerging from this state of lockdown to survey the state of their countries and to assess the economic damage that this lockdown has inflicted.
And it is not a good sight!
Small business has borne the brunt of the damage and many businesses will not even be able to reopen, never mind return to the state they were in pre-lockdown.
Banks gave people and businesses payment holidays during lockdown but for many, this is not enough.
Employees of small businesses who closed down are without jobs and the businesses that were strong enough to re-open have to restructure their workforce to align with their post-lockdown revenue.
Because there is less income, there is automatically going to be less expenditure and thus trading will not be as vigorous as before for many businesses.
So everything is going to feel the effect of the lockdown, in varying degrees and at different times.
What is certain though is that we all emerged as different people and businesses from lockdown.
But we all need a place to stay. Whether we are going to buy the place or rent the place is irrelevant. The need for real estate is going to continue ad infinitum.
So here is to a great 2020 and a great real estate industry in South Africa!
Property for sale in South Africa and especially houses for sale in Cape Town will always be in demand because of the sheer beauty of Cape Town. Cape Town’s beauty is unrivaled and breathtaking. Cape Town grabs a hold of your heart and never ever gives it back to you again!