Understanding the property industry's predictions and trends for the coming year can be as vital as finalising a lease with a tenant or securing your next investment. In either case, if the former is not clear, it will be detrimental to the salient terms of the latter. Prior to delving into 2023, it is necessary to examine market attitudes from the fourth quarter of 2022. “The global economy has been characterised by rising interest rates, energy supply limits, climate change, and volatile geopolitics,” says Andrew Dewey, MD of Swindon Property. A reflection on the industrial market The industrial real estate market had a prosperous 2022, with national nominal rents per 500m2 increasing by 5.3%, a significant increase from 2021's 2.2%. Building cost inflation of 11% will however put pressure on re-developments and new build costs which in turn will see industrial rentals continue to rise. Comparing the survey results of Q4 2021 to Q4 2018, shows that rental growth stayed constant at approximately 5.7%. This indicates that the industrial sector continues to enjoy a commanding advantage over the other three economic sectors. Dewey says the market has been bolstered by sustained low vacancies, particularly in logistics-related warehouses. “This has been as a result of the robust online retail sales sector and consolidation measures taken by large national companies.” A rejuvenated market In 2023, Dewey anticipates a surge in demand for commercial rental properties, which would stimulate the market. “Although loan rates that plummeted dramatically during lockdown have steadily risen over the past 18 months, the market remains mainly robust,” he says. Therefore, the outlook for the South African real estate market in 2023 is fairly positive. Important market trends for 2023 Dewey forecasts that the majority of trends that will emerge in 2023 will be a continuation of market adjustments that began in the post-pandemic climate …
Defending champions return to Satellite Classic after two-year hiatus
Satellite Classic, presented by Everything.Insure, defending champions David Maree and Joanna van de Winkel will have their eyes on another win when the road race takes place at Hoërskool Bekker, Magaliesburg, on October 1. This year marks the 18th edition of the event, which was first hosted in 2003. Due to Covid-19 regulations, the race last took place in 2020. The event also consists of an MTB Relay (October 2). Now in its third year, it provides four hours of cross-country off-road fun and takes place on the former SA Schools Final trail. Maree's track background came to good use when he sprinted to victory in the 2020 race, to get the better of Flavio Venceslau and Jaco van Dyk. The Team DMS rider said it was a great feeling to be back at one of the country’s iconic races. "Having my big disappointment in 2018 and winning in 2019 makes it special. Winning the last event, I'd like to successfully defend the title." He added that having won a few races and getting to the end of his career soon, he would use another win as an opportunity to teach the younger riders. The 33-year-old felt that it was "quite a hard race" with a few climbs, but it always turned out to be one for the riders who put in the work. "Hekpoort will always be tough - it's the big one. "Once I make it over there in the front group, I know I have a chance with the tricky sprint finish." Maree, who lives in Fourways, felt that this event was great preparation for the end of the year. "It also has some great scenery, and the weather is always great." Van de Winkel captured her third straight Satellite Classic title at the last edition. The Sandton City Cycle Nation rider crossed the line half a minute ahead of Parys Edwards. Azulde Britz finished third. "I'm excited to be back on the start line of this Classic. The last time I raced it, I had just come back from a stint of racing in Europe and the UK, so I was in good form. "They say 'pain is temporary …
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Barrett, Oberholzer add another Berge & Dale title to palmares
Travis Barrett and Carla Oberholzer added a second and third Everything.Insure Berge & Dale title to their respective palmares when the 22nd edition of the event took place in Krugersdorp on February 26. After having had to cancel the event last year due to Covid-19 restrictions, there was great excitement regarding its return. The event saw a great turnout, and entries almost reached capacity. Cape Town Cycle Tour champion Barrett finished the 109km road race in 2:31:04, with Tiano da Silva and Jaco van Dyk completing the podium. "I'm extremely happy to have won this weekend's Berge & Dale," said Barrett. "All wins are important, but being able to defend my title after winning the previous edition, which was held in 2020, made this one extra special." The 22-year-old said going into the race, being able to defend his title was always in the back of his mind. "But after a week of racing in Namibia, followed by a hard training week in the days leading up to the event, I wasn't quite sure how my body would react. "With that in mind, our team had a few plans to ensure that one of us would end up on the top step of the podium," said the Honeycomb Pro Cycling rider. Barrett said the team had quite a lot of depth, in terms of riders with different strengths, so they had a few different strategies and cards to play for different scenarios, depending on how the race played out. "I decided to roll the dice and try to get in the early breakaway as I did in 2020 and see if it would stick to the finish. "The race had a shocking resemblance to the 2020 edition in the way things played out. I once again managed to get into the winning breakaway early on, on a fast stretch of road at around the 15km mark (which was exactly what happened in 2020). "The riders in the break immediately started working well together and quickly established a gap of around one minute." He said the group consisted of strong riders, such as Da Silva, Van Dyk, …
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Travis Barrett targets vital second Berge & Dale title
Professional cyclist Travis Barrett is aiming for a second Everything.Insure Berge & Dale title when the 22nd edition takes place on February 26 at Protearif Primary, Krugersdorp. The 2020 Cape Town Cycle Tour winner said it was definitely a goal to win the race again. "Another title is my objective, especially coming in as the defending champ. "Any result and race win is important for me, especially as a young rider, so a second title really would help me gain recognition as one of the better riders in South Africa." The 22-year-old added that mentally he was excited and ready for the season ahead, but physically he was not in his best shape yet. "Although, after a promising ride at Gauteng Champs recently and with a few weeks still to go before Berge & Dale, I think I’ll have some good form on race day." After having had to cancel last year's event due to Covid-19 uncertainties, organisers Slipstream Events will welcome riders back to this iconic West Rand event, which is renowned for its challenging and hilly route - and in particular the sting in the tail climb to the finish. "I'm really excited for the return of Berge & Dale this year," said Barrett. "The last two years have been filled with so much uncertainty regarding road races in SA, so it's good to see the calendar getting fuller." The Team Honeycomb Pro Cycling rider said Berge & Dale was always one that he enjoyed and looked forward to. "It's never a completely flat route. I usually perform better in races that are hilly, especially since I’m one of the smaller riders in the bunch. "The route is always challenging, and quite different to many other local races which always makes it exciting." The Edenvale resident added that in all of the editions he had participated in, the organisation, as well as the vibe had always been great. "I definitely urge those who haven't yet entered or those who are still indecisive to get their entries in, to enter - …