Confidence: The Real Driver of the Property Market
In real estate, we often talk about money, markets, interest rates and the overall economic health of a city. Yet, in my years in this business, I’ve seen time and again that the most powerful driver of the property market is not always these factors - it’s sentiment. Confidence, optimism, and morale matter more than we often realise. When people feel hopeful about the future, they buy homes. When they are fearful or uncertain, they hesitate.
We saw this play out as a nation back in 2017, when Cyril Ramaphosa became president. That burst of “Ramaphoria” optimism lasted only four or five months, but it was enough to give the property market a noticeable lift.
In a lighter vein - in my capacity of a large real estate business over many years - I’ve noticed this in less political ways. For example, if the Springboks beat the All Blacks on a Saturday, Sunday show days were busy. The morale of a city, its spirit, its energy - these intangibles shape real outcomes in real estate.
Which brings me to Johannesburg today. There is no denying that Johannesburg has faced years of mismanagement, corruption and incompetence. Yet, hope matters. And recently, hope has been stirring again. The announcement of Helen Zille’s mayoral candidacy has sparked conversations, not only about politics but about possibility.
Zille herself has put it starkly by saying that Johannesburg is “… South Africa’s most devastating example of what bad government can do to good people.” She has been equally clear that South Africa cannot afford for Johannesburg - the city that drives our economy - to fail: if Johannesburg fails, South Africa will fail.
As she put it:
“Great cities make great countries, not the other way around. All they need is a mayor and municipal council that gets behind them. With a whole of society groundswell, you can turn that belief into a reality.”
These kinds of statements have a ripple effect. They lift spirits. They remind us that change is possible. And Zille has doubled down on this by recognising the resilience of Johannesburg’s people:
“The most wonderful thing about Joburg is the resilience of her people. Thousands of people working in hundreds of organisations want to make Jozi the great city she can be. When enough people do that together you can create a great world city.”
This kind of optimism is contagious - and it matters for the property market. Because people don’t just buy homes; they invest in futures.
We see a similar spirit in initiatives like the Jozi My Jozi campaign, which is restoring pride and uniting people to create positive change. Their mission is clear: Through collaboration and innovation, they aim to strengthen communities, promote growth, and empower citizens to build a safer, more vibrant Johannesburg.
As Zille herself has said: “Joburg is entirely salvageable.”
That sense of positivity is vital. Last year, Johannesburg was ranked in the top 2 cities in the world by Time Out for its food. Yes, the city was also rated the least walkable city in the world in a 2025 study by Compare the Market. But again, sentiment is about balance: acknowledging challenges while nurturing belief in what can be achieved.
For me, as someone immersed in the property world, this is more than politics. It’s about confidence. A hopeful vision for Johannesburg fuels optimism, and optimism fuels the property market. When people believe in their city, they invest in it. And that belief, once sparked, becomes unstoppable.
At the end of the day, the bottom line in real estate is confidence. Restore people’s faith in Johannesburg, and you restore the heartbeat of its property market.
ENDS