South africa budget 'will boost property sector'

The latest budget to be unveiled by South Africa's finance minister Pravin Gordhan has been described by some commentators as a boost to the country's real estate market.

Chairman of Sotheby's International Realty in South Africa Lew Geffen highlighted the new housing subsidy scheme as one proposal that will have a quick impact on the sector.

"This will give the lower end of the market much-needed impetus and no doubt have a positive knock-on effect," he asserted.

Mr Geffen also praised the level of finance set aside for new infrastructure projects, noting it will create new jobs, as well as benefit the country as a whole.

Source: PropertyShowrooms.com