2020/2021 State of Transformation Report

The 2020/2021 State of Transformation Report for the South African Property Sector examines the evolving landscape of the South African economy, tracing its transition from a reliance on primary sectors to a burgeoning knowledge-based economy. With a historical foundation in natural resources and agriculture, the economy has progressively shifted towards a tertiary sector-driven model, with a growing emphasis on technology, e-commerce, and financial services.

At the heart of this shift lies the pivotal role of the property sector, now categorised within financial and business services, making a substantial contribution to the nation's genuine economic growth. Despite this pivotal role, challenges persist in ensuring equitable ownership, control, and participation within the sector, reflective of South Africa's diverse demographics.

While strides have been made towards transformation, progress has been gradual, particularly in addressing the underrepresentation of black individuals, including women and people with disabilities, within the sector. The report highlights both the positive advancements and the ongoing need for accelerated efforts to achieve inclusive growth and representation in the South African property industry.

Abstract based on source.