Property market goes through lean spell

12 January, 2009 in Botswana, Business

source: BOPA
12 January, 2009

GABORONE – After several years of strong and often spectacular growth, commercial real estate markets in the country are beginning to show the effects of an economic slowdown that has quickly spread far and wide across the globe.

Phakalane Properties Real Estate Agents and Management Properties Valuers Managing Director Mr. Lesang Magang concurred that the market value of all the products and services produced including housing properties, are faced with a sharp decline in the event of an economic recession.

“Unless you are in the business of selling houses, low prices are not good news, however if you are somebody who is planning on investing and buying property, a period of economic recession will help you have choices that you want. It is a good time to look for investment properties,” said Magang.

He pointed out that as the global markets adjust to the change in [continue reading]