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Budget comment property - Chas Everitt

Although the Budget did not contain many direct benefits for the real estate industry, we welcome it as largely positive and confidence boosting, which will undoubtedly have a spin-off in the property market," says Berry Everitt, CEO of the Chas Everitt International property group.

"Especially encouraging aspects are the fact that the GDP this year will be higher than initially expected at 2,3%, and that government's budget deficit will be cut to 7,3% of GDP.

"In addition, it looks like most spending will be taking place in all the right areas to support a developing economy - job creation, especially for young people; health; education and skills training, affordable housing and most of all infrastructure development, particularly in rural areas. All these considerations are vital if SA is to become more productive and comeptitive and take its place among the leading nations of the world.

"And finally, we cheer the Minister for finding enough in the Budget to even offer R6,5bn worth of tax relief to individuals - and for taking a strong stance on corruption and tax evasion."