Only 49% of firms in the property and construction sector are optimistic about the outlook for the coming year based on figures compiled by Grant Thornton's International Business Report, according to a Business Report report.
According to the Business Report
report, Lee-Anne Bac, head of property advisory at Grant Thornton, said that these low levels of optimism were a reflection of harsh trading conditions that are constrained by regulations and red tape, the lack of skills and a shortage of demand for new projects. She says that over-regulation has created a stranglehold for this sector and could lead to further stagnation if it is not addressed. For more: