From 2013 to 2023, South Africa's Real Estate Gross Value Added (GVA) consistently increased, albeit with varying growth rates. Notably, growth peaked in 2017 at 8.74%, then followed a gradual decline to a 2.43% increase in 2023. Over the past five years, the Compound Annual Growth Rate (CAGR) indicates an average annual growth of 2.4%.
Overall, while the historical growth has been robust, future trends suggest a more moderate expansion, with a forecasted CAGR of 1.73% from 2024 to 2028, culminating in an 8.94% growth rate over this period.
Future trends to watch for include the impact of economic recovery post-pandemic, governmental policies affecting real estate investments, and the influence of technological advancements in property management and sales.
