| From Engineeringnews.co.za: The economic slowdown, higher interest rates and tougher lending criteria have all led to a huge drop-off in the property development industry.
Selected building statistics of the private sector, as reported by local government institutions and released by Statistics South Africa in May, this year, indicated that the value of recorded building plans passed by the bigger municipalities (at current prices) from January to the end of May 2009 decreased by 24,4% (R8 525,4-million)..............Full Article: Source
|