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Land prices ‘broadly stable’ despite ANC’s land reform moves - Basa

Investors have been unnerved by one of the signature policy drives of President Cyril Ramaphosa ahead of the 2019 elections.

FILE: President Cyril Ramaphosa. Picture: GCIS.

JOHANNESBURG - The Banking Association of South Africa (Basa) says land prices are “broadly stable” despite uncertainty as the African National Congress (ANC) moves to change the Constitution to expropriate land without compensation.

Investors have been unnerved by one of the signature policy drives of President Cyril Ramaphosa ahead of the 2019 elections, which will be a tough test for his party against the backdrop of a recession and signs of rising social discontent.

Over two decades after the end of apartheid, most private land in South Africa remains in the hands of the white minority, making it a potent symbol of wider economic disparities.

The Banking Association says in a statement that land prices have “broadly remained stable” with exceptions such as drought-hit areas and lifestyle and game farms, which have seen “some sharp declines.”

WATCH: Land expropriation without compensation ‘not electioneering slogan’ - ANC

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