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News & Press: 2017 News Items

Semigration, not real growth, may be driving W Cape economy - expert

Friday, 15 December 2017   (0 Comments)
Posted by: Bert vd Heever
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SA's latest statistics on the value of recorded building plans passed for the private sector may indicate an economic shift to the south of the country, according to Bert van den Heever, past president of the Association of SA Quantity Surveyors (ASAQS).

The reality is that economic growth in the Western Cape could be driven more by semigration (people relocating from other provinces) than by real new economic growth, according to Deon van Zyl, chair of the Western Cape Property Development Forum.

"What is desperately needed is investment that will lead to job creation. Property development remains a bellwether industry, reflecting the economy at a point in time. Investment is a direct response to confidence,” commented Van Zyl.

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