Sometimes you have to go against the tide to make money in the long term.— Warren Ingram, Galileo Capital
Tax Free Savings Accounts (TFSA) are great “wrappers” for a myriad of investments.
Last year was extremely difficult for most asset classes, but listed property took the biggest knock, delivering -25%.
South Africa’s listed property market is quite small when compared to global standards.
The index is also disproportionate, with Growthpoint and Redefine comprising 37% of it.
The ongoing investigation of the Resilient Group.
Land expropriation causing uncertainty.
- Global property uncertainty with Brexit and rising interest rates in the US.
Where to from here?
Some of the better companies, said Ingram, are yielding 13% per year.
Some property unit trusts have yields of 11% while the SA Listed Property Index is currently offering a yield of 9%.
This year might still be tough for listed property, but Ingram expects the cycle to turn.
When it does, he said, there will be a handsome recovery.
In the interim, with yields this high, you will be getting a good, tax-free income.
For more detail listen to the interview in the audio below.
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