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South Africa: Johannesburg's R2-Billion Roads Plan is Good News for Home Values
Source: SA - the Good News
Source Date: Friday, November 29, 2013
Focus: Knowledge Management in Government, Institution and HR Management
Country: South Africa
Created: Nov 29, 2013

Ennik is the founder and CEO of Ennik Estates – the exclusive affiliate in Gauteng of London-based Christie’s International Real Estate.
“The announcement is particularly welcome given the serious weekday peak-hour gridlock that has taken hold in key areas north of the City as commercial development and redevelopment continues to outpace infrastructural maintenance and expansion,” says Ennik.
It is also encouraging, he adds, that Mayor Tau reportedly singled out for special attention the perennial pothole problem – on which Johannesburg will be spending almost R80-million on patching and fixing cracks.
“In May this year I warned that ongoing poor maintenance of Johannesburg’s decaying suburban road infrastructure posed a real threat to the city’s residential property values – particularly in prime areas (where, ironically, the highest municipal rates are paid!).
“The fact remains that even the most astute of buyers who visit homes on roads blemished by potholes, broken and blocked kerb inlets, and poorly constructed pavements – or, worse, no pavements – subliminally devalue the property before they even get to look at it, let alone make an offer,” says Ennik.
“By turning this problem around, Jo’burg City will be restoring lost value to many individual streets, and even entire suburbs, that have become ‘marked down’ as a result of past poor delivery on road maintenance and development.
“The sooner the City ‘walks the talk’ the better!”
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