The Impact of Political Transformation on the South African Commercial Property Market
||Viruly, Francois; Elizabeth Pienaar
||The Impact of Political Transformation on the South African Commercial Property Market
||14th Annual European Real Estate Society Conference in London, UK
||This study considers the impact that the transformation of the South African socio-political environment has had on locational decision making in the South African commercial property market. A central theme of the apartheid policy was to underpin and promote the economic viability of homelands and specific areas in metropolitan areas through a national decentralization policy and more specifically the provision of financial locational incentives. In addition, townships in close proximity to major metropolitan areas were primarily seen as “dormitory towns” and little attention was given to the development of a vibrant commercial built environment in such locations. The result of such policies is that post apartheid South Africa inherited a specific urban form and related location of commercial properties. The central question posed in this study is whether a decade of democracy has significantly altered decision making in the commercial property sector or whether inherited trends persist. Based on historical data and case studies, the paper assesses the transformation of the built environment in the Johannesburg central business district, Soweto, and in the former homeland of Bophutatswana.
Post discussion ...
||Session H5: Land and Property Markets in Emerging Locations II
These pages are best viewed with any standards compliant browser (e.g. Mozilla).