This report focuses on the real estate industry, which comprises commercial, industrial, and residential properties, as well as property development, property valuation and bond origination. The report includes information on the size and state of the sector, ners, JSE-listed companies, construction value add, completed buildings and value of transactions, mortgage activity, investment in new developments and price increases. There is information on affordable housing, student housing and the clampdown on Airbnbs, affordability, notable players and new developments. The report includes profiles of 127 companies including major players such as Growthpoint, Hyprop, Vukile, Calgro M3, Redefine and Attacq, and many other property developers, managers, valuers and bond originators.
Challenges
Affordability is a major hurdle for many house buyers. Continued above-inflation municipal rates increases. Cybercrime and crime. Declining municipal governance. Declining political sentiment if reforms fail to take off and the Government of National Unity collapses. Expropriation Act. Government has been slow to put infrastructure projects out to tender. Increasing operating costs. Pending clampdown on Airbnb’s. Slow economic growth and the poor construction sector performance. The construction mafia is holding back the development of new infrastructure. The property sector has experienced above inflation costs increases in recent years. Water and power challenges.Introduction
- Residential property sales accelerated in the first five months of 2025 on the back of interest rate cuts and lower inflation.
- Total returns on the commercial property sector in 2024 were strong.
- Challenges include low economic growth, which has limited sales, and the rising cost of living, which has made property unaffordable to many.
- Declining municipal governance and continued above-inflation property rate hikes are other major challenges.
- The luxury residential property market in Cape Town is booming, but there is growing concern that the city is becoming increasingly unaffordable.
Opportunities
Affordable housing developments. Demand by building owners for energy and water efficiency installations. Development of student housing. Medical campuses. New regulations compel owners of non-residential buildings to display energy efficiency certificates. Retirement complexes. The development and sale of luxury property, including estates. Township shopping centres.Outlook
- The outlook remains optimistic following recent interest rate cuts.
- All property types, including the office sector, are showing signs of improvement.
- Listed property companies were expected to increase earnings in 2025.
- The outlook hinges on improving sentiment.
- Risks such as decaying infrastructure and crime, fewer interest rate cuts and increasing municipal charges could affect the sector.
Trends
Growing luxury residential property sales, particularly in Cape Town. In the residential market developers are favouring the construction of flats and towns houses over free-standing homes. Interest rate cuts are driving residential and commercial property sales. IoT and AI has propelled a growth in smart buildings. Property has become unaffordable for many first-time home buyers, particularly in Cape Town. Property owners facing rising cost increases are looking at water and energy efficiency measures to contain costs. Semigration, which drove sales in coastal areas, has slowed. The construction sector continues to struggle. The government and private sector are investing in student housing. The green building trend continues as owners look to lower operating costs. There has been a long-term shift from buying to renting.Table of Contents
1. INTRODUCTION4. AFRICA5. INTERNATIONAL8. INDUSTRY SUMMARY9. OUTLOOKANNEXURE 1 - Relevant LegislationAPPENDIX 1 - Commercial Property Investment and Management CompaniesAPPENDIX 2 - Property DevelopersAPPENDIX 3 - Sustainable Human Settlement (Previously RDP Housing)APPENDIX 4 - Development of Leisure Resorts and HotelsAPPENDIX 5 - Industrial Development ZonesAPPENDIX 6 - Residential Real EstateAPPENDIX 7 - Property ValuationsAPPENDIX 8 - Bond Origination
2. DESCRIPTION OF THE INDUSTRY
3. LOCAL
6. INFLUENCING FACTORS
7. COMPETITIVE ENVIRONMENT
10. INDUSTRY ASSOCIATIONS
COMPANY PROFILES - Commercial Property Investment and Management Companies
COMPANY PROFILES - Property Developers
COMPANY PROFILES - Sustainable Human Settlement (Previously RDP Housing)
COMPANY PROFILES - Development of Leisure Resorts and Hotels
COMPANY PROFILES - Industrial Development Zones
COMPANY PROFILES - Residential Real Estate
COMPANY PROFILES - Property Valuations
COMPANY PROFILES - Bond origination
Companies Mentioned
- Accelerate Property Fund Ltd.
- Acsion Ltd.
- Afhco Holdings (Pty) Ltd.
- Attacq Ltd.
- Atterbury Management Company (Pty) Ltd.
- Beare Properties (Pty) Ltd.
- Benchmark Group (Pty) Ltd.
- Broll Property Group (Pty) Ltd.
- Burstone Group Ltd.
- Castleview Property Fund Ltd.
- City Lodge Hotels Ltd.
- Collins Property Group Ltd.
- Delta Property Fund Ltd.
- Dijalo Property Management (Pty) Ltd.
- Dipula Properties Ltd.
- Divercity Urban Property Group (Pty) Ltd.
- Emira Property Fund Ltd.
- Enyuka Prop Holdings (Pty) Ltd.
- Equites Property Fund Ltd.
- Eris Property Group (Pty) Ltd.
- Excellerate Real Estate Services (Pty) Ltd.
- Exemplar Reitail Ltd.
- Fairvest Ltd.
- Fieldspace Property Managers (Pty) Ltd.
- Fortress Real Estate Investments Ltd.
- Free State Development Corporation
- Gap Infrastructure Corporation (Pty) Ltd.
- Giflo Holdings (Pty) Ltd.
- Growthpoint Healthcare Property Holdings (Rf) Ltd.
- Growthpoint Properties Ltd.
- Hammerson PLC
- Heriot Reit Ltd.
- Hermans and Roman Property Solutions (Pty) Ltd.
- Hyprop Investments Ltd.
- Inframax Holdings (Pty) Ltd.
- Ingenuity Property Investments (Pty) Ltd.
- Jhi Retail (Pty) Ltd.
- Legacy Hotels and Resorts (Pty) Ltd.
- Liberty Holdings Ltd.
- Life Healthcare Group Holdings Ltd.
- Maxprop Holdings (Pty) Ltd.
- Mediclinic Group Ltd.
- Netcare Ltd.
- Oasis Crescent Property Fund
- Oasis Crescent Property Fund Managers Ltd.
- Octodec Investments Ltd.
- Old Mutual Ltd.
- Orbvest SA (Pty) Ltd.
- Orion Real Estate (Pty) Ltd.
- Pareto Ltd.
- Passenger Rail Agency of South Africa
- Public Investment Corporation Soc Ltd.
- Putprop Ltd.
- Redefine Properties Ltd.
- Renprop (Pty) Ltd.
- Resilient Reit Ltd.
- Rmg Management Group SA (Pty) Ltd.
- SA Corporate Real Estate Ltd.
- Sanlam Ltd.
- Sargas (Pty) Ltd.
- Spear Reit Ltd.
- Stor Age Property Reit Ltd.
- Strategic Real Estate Managers (Pty) Ltd.
- Talis Property Fund (Pty) Ltd.
- TCI Properties (Pty) Ltd.
- Texton Property Fund Ltd.
- Tourvest Holdings (Pty) Ltd.
- Tower Property Fund (Pty) Ltd.
- Trafalgar Property Management (Pty) Ltd.
- Transnet Soc Ltd.
- Visual International Holdings Ltd.
- Vukile Property Fund Ltd.
- Zenprop Property Holdings (Pty) Ltd.
- Abfund (Pty) Ltd.
- Acsion Ltd.
- Afhco Holdings (Pty) Ltd.
- Atterbury Management Company (Pty) Ltd.
- Benchmark Group (Pty) Ltd.
- Divercity Urban Property Group (Pty) Ltd.
- Eris Property Group (Pty) Ltd.
- Free State Development Corporation
- Gap Infrastructure Corporation (Pty) Ltd.
- Giflo Holdings (Pty) Ltd.
- Growthpoint Properties Ltd.
- Ingenuity Property Investments (Pty) Ltd.
- Investec Property (Pty) Ltd.
- Keystone Investments (Pty) Ltd.
- Montagu Homes (Pty) Ltd.
- Rabie Property Developers (Pty) Ltd.
- Renprop (Pty) Ltd.
- Rpp Developments (Pty) Ltd.
- Summercon Holdco (Pty) Ltd.
- Swish Property Group (Pty) Ltd.
- Visual International Holdings Ltd.
- Wbho Construction (Pty) Ltd.
- Westbrook Country Estate (Pty) Ltd.
- Zenprop Property Holdings (Pty) Ltd.
- Zotos Brothers (Pty) Ltd.
- Calgro M3 Holdings Ltd.
- Inframax Holdings (Pty) Ltd.
- Nu-Way Housing Developments (Pty) Ltd.
- Power Development Projects (Pty) Ltd.
- Trustgro Developments (Pty) Ltd.
- City Lodge Hotels Ltd.
- Kat Leisure (Pty) Ltd.
- Legacy Hotels and Resorts (Pty) Ltd.
- Peermont Global (Pty) Ltd.
- Southern Sun Ltd.
- Sun International Ltd.
- Atlantis Special Economic Zone Company Soc Ltd.
- Coega Development Corporation (Pty) Ltd.
- East London Industrial Development Zone Soc Ltd.
- Richards Bay Industrial Development Zone Company Soc Ltd.
- Aida National Franchises (Pty) Ltd.
- Electronic Realty Associates (South Africa) (Pty) Ltd.
- Everybody Wins Real Estate Franchising (Pty) Ltd.
- First Realty Central (Pty) Ltd.
- Firzt Realty (Pty) Ltd.
- Geffen International Realty Franchises (Pty) Ltd.
- Jawitz Properties (Pty) Ltd.
- Just Property Group Holding (Pty) Ltd (The)
- Leapfrog Property Group (Pty) Ltd.
- My Africa Properties (Pty) Ltd.
- Pam Golding Properties (Pty) Ltd.
- Property Referral Network (Pty) Ltd.
- Rawson Residential Franchises (Pty) Ltd.
- Realty One International Property Group (Pty) Ltd.
- Seeff Property Services (Pty) Ltd.
- Wakefields Real Estate (Pty) Ltd.
- Appraisal Corporation Cc
- Broll Valuation and Advisory Services (Pty) Ltd.
- Corporate Valuations Cc
- Ddp Valuers (Pty) Ltd.
- Eris Property Group (Pty) Ltd.
- Mills Fitchet (Gauteng) Cc
- Mills Fitchet (Kzn) Cc
- Mills Fitchet Africa (Pty) Ltd.
- Mills Fitchet Valuations (Pty) Ltd.
- S a Appraisers and Valuers Cc
- Spectrum Valuations and Asset Solutions (Pty) Ltd.
- Betterhome Group Ltd.
- Mortgagemarket (Pty) Ltd.
- Multinet Home Loans (Pty) Ltd.
- Ooba (Pty) Ltd.
- SA Home Loans (Pty) Ltd
