Property Markets Has Not Felt Any Recession

Monday, November 23, 2009

The local property market has not been hit by the world economic recession. This is according to the newly elected president of the Real Estate Institute of Botswana (REIB), Outule Bale.

Speaking in a wide ranging interview, Bale said when the market is in a recession, there would be a lot of vacant properties. "You wont have rental growth. Prices would drop dramatically," he said.

Bale said they do not have any empty properties. "I would not say the impact has been huge. We have not really seen much of that as it is still difficult to get a house or an office around here," he said.

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