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Sapoa: Spiralling municipal rates represent âcatastrophic value destructionâ
Neil Gopal, CEO of the South African Property Owners Association, wades into this hot-button issue for the commercial and listed property industry.
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21 May 21
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SUREN NAIDOO: Sapoa, or the South African Property Owners Association, is one of the country’s oldest property bodies. Over the years Sapoa has perennially raised the issue of spiralling commercial rates and taxes and its impact on the industry. In this episode we zone into the issue with Sapoa CEO Neil Gopal.
Sapoa has more than 800Â members and is the voice of the commercial property industry in South Africa. Hi Neil, welcome to the Property Pod.
Anthea Jeffery of the Institute of Race Relations is a leading authority on land expropriation (or EWC – expropriation without compensation). She has been advocating against land expropriation, spelling out the implications this may have on the already fragile South African economy. In an article published on BizNews earlier this year, Jeffery commented that ‘the mere threat of widespread expropriation, especially for ‘nil’ compensation, is enough to deter most direct investment and stall any prospect of economic recovery. Many South Africans are worried about what it may mean for their personal property, with fears of homes and assets being taken without anything in exchange. Below, the IRR’s Head of Policy research notes there is a ‘deep divide’ on the amendment bill. ‘The Ad Hoc invited several organisations to make oral submissions to it – but left out the IRR and many others that should have been included’. This article was first published on the Daily Friend