Gloomy road ahead for construction

Tujoromajo Kasuto Analysts have predicted pipeline construction activity will be less promising in 2022, as rising interest rates and the possibility of another 100bps repo rate hike before the end of the year that will put a strain on household budgets that are already stretched due to high food and fuel prices. According to Simonis Storm Securities, Economist Theo Klein this will have a major negative impact on the middle income residential market. ‘’This could negatively impact buyer demand, especially in the low to middle income residential market. We do also expect demand for office/commercial property to be subdued owing…