Editor’s note
Caroline King
Head of Sales Absa Home Loans
Welcome to the third edition of The address, which we have named Real estate in flux
Whilst the concept of adapting to change was brought to life with a global pandemic that impacted us all, this concept of ‘flux’ in this edition is broader than just changes due to the pandemic. This theme expands to include mega trends from the rapid rise of digitisation that was ignited well before the pandemic, through to consumer behaviours, trends and innovations that reflect the human ability to adapt.
Contents
Contents
Caroline King Head: Strategy, Sales and Business Analytics at Absa Home Loans
Welcome to the third edition of The address, which we have named Real estate in flux
Whilst the concept of adapting to change was brought to life with a global pandemic that impacted us all, this concept of ‘flux’ in this edition is broader than just changes due to the pandemic. This theme expands to include mega trends from the rapid rise of digitisation that was ignited well before the pandemic, through to consumer behaviours, trends and innovations that reflect the human ability to adapt.
With rising inflation, shifting migration patterns, sustainability concerns and rapidly changing ways of living and working in existing spaces, real estate is experiencing major shocks globally. In South Africa, lack of investment and maintenance of major infrastructure, socio-political instability and concerns of economic growth present additional pressure points. Coupled with severe flooding, rising interest rates and other uncertainties (from loadshedding to increasing food and fuel prices), these issues mean the property sector can feel like a bit of a rollercoaster. It did, however, leave me with a question… 'so what can we do about it?… and what does Africanacity look like in the property industry?'
This theme has given us the space to look at how things are changing, as well as how they need to change. From how we can start to think differently about urban development to address issues of social inclusion, to exploring locally developed proptech solutions, smart townships and even the concept of digital land in the metaverse, the ideas we’ve explored have challenged and excited me.
Of course, I can’t ignore the difficulties our industry faces either, and we’ve looked at some of those too – from interest rates to understanding the implications of the new Property Practitioners Act. We’ve also focused our spotlight on how consumers’ needs are shifting and what the industry is doing to address changing demands.
At Absa, we believe we have a role to play in society, and that we should use our resources to create economic, social, and environmental value through our business, helping to shape Africa's growth and sustainability. Our industry partners are a key enabler in achieving this.
The address is developed with you in mind. We hope it will help to inform you and to inspire you to join us in imagining and contributing towards a better industry and a better world.
Caroline King Head of Sales at Absa Home Loans
PS: We’d love your feedback. Please do drop us a mail with your comments and suggestions.