About Me

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I am a qualified Attorney. I specialise in Property Law, Commercial Law, Corporate Law and Trusts.
 
Please visit our website at www.prop-law.co.za for more details.
 
I am an elected Committee Member of the Property Committee of the Association of Pretoria Attorneys and through my involvement, I like to ensure that I am constantly at the "sharp-end" of Conveyancing Practice.

I am the elected Chairman on the Gauteng Council of SAPOA. The South African Property Owners Association (SAPOA) is the biggest and most influential institution in the property industry. SAPOA members control about 90% of commercial property in SA, with a combined portfolio in excess of R150 Billion (about $22 Billion). I am also on the National Council and the National Legal Committee of SAPOA.
 
Member of the Institute of Directors South Africa and Member of the Sirdar Governance Panel.

18 December 2012

Rise in new wealth bodes well for residential property

Rise in new wealth bodes well for residential property


Recent reports of current annual growth of 31% in the ranks of the wealthy in South Africa (compared with 19% in 2010) is good news for prime residential property says Gauteng luxury homes marketer Ronald Ennik.

"Firstly, it will create a welcome new layer of buyers of luxury homes. Secondly, the sustainability of the top end of the market will be reinforced as more and more of the new wealthy buy into it.

"Thirdly, it will compensate for the (hopefully temporary) withdrawal of foreign investors who, in spite of the attractions of the weaker Rand, seem to be adopting a wait-and-see strategy based on recent negative socio-economic and political developments in South Africa," says the CEO of Christie's-affiliated Ennik Estates.


•Meanwhile, in the recently published global Wealth Report 2012, Renato Grandmont, chief investment officer for Citi Wealth Management and Citi Private Bank in Latin America, picks Johannesburg as one of the world cities of the future (along with Cairo, Lagos, Mumbai...and other well-established centres such as London, New York and Moscow).

"This comes as no surprise," says Ronald.

"With its world-class infrastructure, Johannesburg remains the port of entry for foreign business visitors to Africa - and particularly the fast-growing Southern African region.

"As a result, upmarket Sandton, is now by far the most favoured base for foreign corporates intent on establishing operating footholds in the region," says Ronald.

"This has hugely favourable implications for Johannesburg's luxury residential property market," he concludes.

Ennik Estates Press Release

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