The document summarizes Erwin Rode's presentation at a Moneyweb seminar on October 6, 2011. It indicates that below-average economic growth is expected in South Africa for many years, residential property remains overpriced, shopping center cash flows face ongoing pressure, quality non-residential properties have moderate oversupply nationally but are not overpriced, listed funds' distributions over the next 3 years will slow to around 4% annually and may be negatively re-rated along with long-term bonds.
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Erwin Rode on Prospects for Property (Cape Town presentation)
27. The American locomotive has run out of steam Expect below-average economic growth in SA for many years to come Residential property is still overpriced Shopping-centre cash flows will remain under pressure, especially the smaller ones Nationally, quality non-residential properties are moderately oversupplied but not overpriced Taking a 3-year view, listed funds’ distributions will decelerate to … say, 4% p.a. and a negative rerating may take place in tandem with long bonds
