Message from the MD - February 2017
Category Newsletter: Message from MD
Dear Friends, Property Investors and Enthusiasts
It feels as if my last newsletter sent out at the beginning of December 2016, was written a mere two weeks ago: yet two months have passed since that communication!
Renico Construction quickly picked up the pace at the beginning of 2017 with the commencement of a number of projects. Information on all may be viewed on our website.The perseverance, diligence and hard work displayed over the last few months, by all the departments within Renico, will manifest in the launching of a record number of projects during the course of this year.
During the month of January we have experienced a welcome increase in activity in both sales and rentals.
Final offers on the last few remaining townhouses within our Park Royal development in Wilgeheuwel have been accepted, and once finance is secured the development will be 100% sold out! Hopefully the increased activity within the market will be carried through in the months to come.
Many economists predict that the prime lending rate will remain unchanged for most of 2017. The Monetary Policy Committee once again did not adjust the prime lending rate during January 2017. It was the 5th consecutive time that rates were kept unchanged. We hope that this will pave the way for rates to move into a possible downward cycle towards the end of 2017.
The industrial segment of the market is still showing signs of strain with several warehouses/ factories spending a number of months on the market before being leased to tenants.
Author: Nico Louw
