19 June 2012

South Africa: Are the Property and Construction Sectors Improving?

Only 49% of firms in the property and construction sector are optimistic about the outlook for the coming year based on figures compiled by Grant Thornton's International Business Report, according to a Business Report report.

According to the Business Report report, Lee-Anne Bac, head of property advisory at Grant Thornton, said that these low levels of optimism were a reflection of harsh trading conditions that are constrained by regulations and red tape, the lack of skills and a shortage of demand for new projects.

She says that over-regulation has created a stranglehold for this sector and could lead to further stagnation if it is not addressed.

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