The post-lockdown property market

Writer: Stephen de Stadler Managing Director Fine & Country Hermanus, Arabella and Kleinmond.

At the time of writing this column, we are in our first week of Level 4 lockdown. Being released from the confines of our homes for a three-hour daily exercise routine was met with joyous abandon on the first morning.

Unfortunately, many people also forgot the cardinal rules associated with Level 4, including social distancing, the use of cloth face masks, and effective sanitation and hygiene at all times. I sincerely hope that all those enthusiastic runners, walkers and cyclists who chose to exercise in groups and without face masks will be more compliant in future, as the last thing we need is a return to full lockdown.

Now let us consider what is happening to the real estate market. As the regulations currently stand, commercial real estate agencies may begin operating from Level 3, whereas residential real estate may only begin operating at Level 2. For an industry that contributes between 4 – 5% of our annual gross domestic product, and is able to apply the cardinal rules as referred to above, these restrictions do seem rather harsh.

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