The increases in municipal rates and tariffs are putting immense pressure on property owners and tenants, with little relief in sight. These above-inflation increases, which industry players say are likely to continue, place a further strain on the property market and people’s pockets.
According to recent commercial property finance insights from banking group FNB, rates and tariffs are hitting harder than usual this year due to long-term economic stagnation.
FNB expects national property values will be adjusted upwards, prompting businesses to migrate in search of better deals.
The rising costs of electricity, water utilities and more will push companies and
