Leapfrog CEO on Budget 2022
Category Property market overview
"Finance Minister Enoch Godongwana's Budget Speech, tabled on 23 February, recognises that structural changes are needed to effect real economic growth in South Africa. The commitment to narrowing the budget deficit and stabilising debt is very positive. In order for the property industry to grow - and thrive - we need a buoyant economy and an economically active population, and this is an important first step.
We are particularly pleased that transfer duty and VAT scales on property transactions remain unchanged. The former bodes particularly well for first-time buyers, while the latter will help ensure that we keep seeing growth in the property sector in general. The property sector remains a significant contributor to the overall GDP, which is why efforts such as these are crucial."
- Bruce Swain, CEO Leapfrog Property Group
Author: Leapfrog Property Group
