Economic plan to benefit CT property market

The long-term outlook for property in the Mother City has brightened thanks to a comprehensive plan to stimulate economic growth and development.

The plan, recently published by the City of Cape Town, holds great promise for the local property market, says property stalwart Denis Quayle, owner of Homenet Maynard Burgoyne.

"Council has come up with a brilliant plan to counter rising negativity and its five-year plan, which will address business services, trade, transport, communication, tourism accommodation and catering, is to be welcomed."

The plan also aims to streamline the paperwork necessary for building and development approvals and Quayle says if the process is decentralised to the seven planned "super-offices", the property sector stand to benefit greatly.

"Bottlenecks and long delays due to red tape are a major headache for planners and developers because of the long lead times in the industry - it is very difficult to quickly respond to market needs if the approvals process is drawn out."

He also welcomed the proposal to improve the business environment through sharing information with local businesses, reducing the cost of doing business, and enhancing safety and security.

"Safety and security are key elements for a prosperous city and at the moment there are concerns about crime levels in many quarters. If council indeed manages to get crime under control I foresee a brilliant future for the city and the local property market - a safe environment is a desirable environment, and that will undoubtedly lead to increases in property values."

Quayle adds that the plan, published on the city's website, is comprehensive "and my feeling is that all Capetonians should read, study and understand this site to see just what is going on around them and for them. The city has a vision and a group of hardworking people making a great effort towards that vision. They need our support."

The plan can be viewed at

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