select
|

South Africa’s gated estates generate 65 000 jobs

A national survey shows SA gated estates generate 65 000 jobs and probably pay at least R3,9-billion a year in salaries and wages 

About 65 000 people are employed directly and indirectly on secure gated estates and sectional title residential developments in South Africa.

Of the total, 9 864 are employed directly by Home Owners Associations (HOAs), while other stakeholders on the estates (such as clubs and schools) account for 23 376. The remaining 31 680 people are employed on an outsourced basis in services such as security and landscaping, the survey shows. 

“On a conservative earnings estimate of R5 000 per job per month, the organised and managed community sector accounts for an annual payment in salaries and wages of at least  R3,9-billion,” says Jeff Gilmour, President of the Association of Residential Communities (ARC), which conducted the nationwide survey.

“If the front-end costs of construction and development are taken out of the equation, as well as direct employment by individual households, the biggest ongoing generator of formal employment in the residential property sector in South Africa is the management and maintenance of community estates and complexes,” he adds.

The survey was conducted by ARC across 80 of its membership of 130 estates countrywide, which represents about 45% of the market in terms of number of homes. 

“The data supplied by the participating ARC members were then extrapolated across the rest of our membership, as well as non-ARC-affiliated estates, to provide a comprehensive national picture,” says Gilmour.

Organised communities account for 8,3% of South Africa’s developed land and are home to around 5-million people, he adds. 

ARC is focused on assisting HOAs to manage residential estates more efficiently. In the process, the primary aim is to protect and grow the value of residents’ homes. 

Home Owners Associations (HOAs) in gated estates have assets of R800-billion under their management – more than a quarter of the R3-trillion total current market value of residential property in South Africa,” Gilmour concludes.



  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 22 Feb 2018
      An excellent credit score is one of the most priceless assets a potential home buyer can have. This tool has the power to secure favorable mortgage and refinancing rate, influencing everything from the size of the loan repayment to the interest rate on the home loan.
    • 22 Feb 2018
      What do you do if you love your home’s location and the area, but the home no longer fits your growing family’s needs? Do you stay and renovate your existing home or find a home that meets your developing criteria?
    • 22 Feb 2018
      While every owner wants to sell their property at the best possible price, overpricing a home can be the kiss of death for a sale.
    • 21 Feb 2018
      Given the hand they were dealt, government has performed a delicate balancing act which it is hoped will serve to reignite confidence in investment in South Africa, regain our global credibility and satisfy the credit ratings agencies, says Dr Andrew Golding, chief executive of the Pam Golding Property group.
    • 21 Feb 2018
      The real estate mantra, ‘location, location, location’ remains a strong market influence regardless of the prevailing economy, with suburbs like Rondebosch enjoying the buffering benefit of being ideally situated.
    • 21 Feb 2018
      These days most buyers are using online property portals like Private Property when house hunting due to the convenience, up to date information and variety on offer. “The property portals have revolutionised the way buyers shop, but they do need to be cautious – viewing photos online is no replacement for viewing the property in person,” says Bruce Swain, CEO of Leapfrog Property Group.
    • 20 Feb 2018
      Owning a home is a milestone that most South Africans aspire to. Becoming a homeowner is a step towards growing personal wealth and owning an asset that appreciates in value over time, provided of course that the correct principles are applied during the buying stage of the process, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
    • 20 Feb 2018
      The suburb of Greenstone in Johannesburg east came to be over the last two decades. “In the beginning, it was literally just a hill with not so much as a shopping centre,” says Michael Levy, Property Consultant at Jawitz Properties Bedfordview. Today it has plenty shopping facilities and is fully built, boasting high-density, upmarket housing and residential estates, though still has a few pockets poised for commercial development.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK