A series of cuts to interest rates in SA have led to increased interest from potential buyers of its assets, Property group Fortress Reit said on Monday.
On March 5, the date of the group’s release of results for its six months to end-December, the group had property held for sale worth R389m, but transfer of properties valued at R234.5m had taken place, the group said. “The reduction in interest rates by 275 basis points since the start of 2020 is encouraging and has led to increased interest from potential buyers,” the statement reads.
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