The Effects of Badly Run Municipalities on Commercial Property Demand
Loading player...
GUEST - John Jack, CEO of Galetti Corporate Real Estate
Badly-run municipalities do more than just annoy residents and lead to rubbish pile-ups – they can also be a slippery slope to wide-scale economic decline. For urban centres in particular, the signs of a badly run municipality soon become impossible to ignore, symptomatic of a loss of confidence in the economic viability of the area and fears that crime rates will rise as opportunists capitalise on vacant buildings, “The stark contrast between Cape Town and Durban’s CBDs illustrate the detrimental impact that inadequate service delivery can have on surrounding commercial real estate businesses,” shares John Jack, CEO of Galetti Corporate Real Estate. “While there is still a significant amount of economic potential in the city, sustained efforts will be needed to restore Durban to a thriving and safe hub for businesses and consumers alike.”
Badly-run municipalities do more than just annoy residents and lead to rubbish pile-ups – they can also be a slippery slope to wide-scale economic decline. For urban centres in particular, the signs of a badly run municipality soon become impossible to ignore, symptomatic of a loss of confidence in the economic viability of the area and fears that crime rates will rise as opportunists capitalise on vacant buildings, “The stark contrast between Cape Town and Durban’s CBDs illustrate the detrimental impact that inadequate service delivery can have on surrounding commercial real estate businesses,” shares John Jack, CEO of Galetti Corporate Real Estate. “While there is still a significant amount of economic potential in the city, sustained efforts will be needed to restore Durban to a thriving and safe hub for businesses and consumers alike.”
