Budget comment property - Harcourts

The most positive aspect of today's Budget is the news that spending on infrastructure elements such as electricity supply, roads and water systems will continue for many years after the Soccer World Cup, says Harcourts Africa GM Jeanne van Jaarsveldt.

"Although the people visiting the country will primarily be coming to watch sport and not to look for property or business opportunities, it does present us with a fantastic chance to showcase SA - and to persuade many people to return over the next two or three years to invest here. It is thus very important that they should see continued development and upgrading.

"Even more importantly, these measures will directly address unemployment and poverty among South Africans, and combined with the additional expenditure and focus on education and training, health, housing and social protection, should finally bring about real improvement in the lives of millions of people.

"In the short-term, we also welcome the news that government intends to clamp down on corruption, put systems in place to capacitate better service delivery by municipalities, and clean up procurement systems. This will help to rebuild consumer confidence, which is a critical element in the recovery of the property market."

Article by: www.harcourts.co.za