 No, not so long ago. We saw the budget speech take place and without alterations are inevitable yet, how does it affect the property market and should we be concerned with the ramifications? This morning to tell us a little bit more as to what we can expect from the property market going into 2016. We have Simon Bray, CEO of Private Property. My man, nice to have you. Good to see you. Been a while, been a while. It has, yeah. So yeah, like, you know, every year when the budget speech takes place, we sort of the edge of our seats or we scour the newspapers, you know, the next day. But what actually does it mean for the property markets? I mean, this year was no different. I think everyone was on the edge of their seats. Guys were really interested in what Praveen Gordon had to say. I think this year, more than any other year, we're really looking to rebuild confidence in the South African economy and point to a new and effluent future for South Africans. What it means for the property market is really interesting. You know, property is a big part of the economic story in South Africa. South Africa is certainly the biggest middle class economy in Africa and property really drives the middle class. So we were looking for a budget speech that really restored confidence in the economy and gave us some indicators that property ownership is still a good asset class for people looking to get ahead in our market. And I think we got that. It was a good budget speech from that perspective. All right, so later on, what does it mean for the individual? I mean, if we're talking about investing in property, we talk transfer duties, we talk tax, you know, what can we expect going forward? Yeah, there are many different ways that the budget actually affects property ownership and the taxes in particular play a big role in the costs of ownership around particular types of property. So I was very pleased to see that this year those taxes didn't move too much. In fact, there was a really great allocation, 62 billion rand has been allocated towards the affordable housing market. So we're going to see a great housing subsidy scheme come in at the lower end of the market. And that's really great because it creates this culture of South Africans wanting to get into the property ladder, you know, starting at the bottom and then growing over the coming years. I think this is great. I mean, for anybody to be able to call a certain place their own that they've bought, I mean, it's a great thing. But what does that actually mean? I think a lot of people might be asking the question, going forward specifically to 2016, maybe going into next year, is it a good time to buy specifically now? Or if you do own a property, should you think about selling, maybe? Well, the great news is there weren't many shocks in the budget. So, you know, transfer duties remain pretty much unchanged. There was a little bit of an adjustment to the top end of the market. You know, guys, your own over 10 million rand properties are going to pay a little bit more in transfer duty. Capital gains tax, which is that profit tax that you get, you know, what you bought the property for and what you sold it for and what that gain is, that's going to be a slightly higher tax than usual. But no real shocks. So, otherwise, I'd say it's business as usual for the property market. And with some of the other areas of investing tightening up, you know, shares being a little bit uncertain, the exchange rate certainly being very volatile, it makes property a safer bet. So, I think you're going to see a good year for the property market. All right. So, in your words, I mean, good thing go out there, you know, if you can invest, smartly invest and it be the property. Well, that's the key word, right? Smartly. And I think Praveen Gordon's speech was exactly about that. We've got to tighten our belts to South Africans, look for the smart investments and I think that's what a platform like private property allows you to do. You know, you can search across the market. You can definitely find the right locations that are performing better than the rest of the market. You can invest in types of property that are low maintenance costs like sectional title, flats and apartments. So, it's about finding the right property investment in the coming years. Brilliant. Simon, thank you so much for joining us this morning and for all the info, especially when it comes to the budget speech and how that affects property, but at the end of the day, property can be a very wise investment, but make sure it is the right investment for you and your budget. So, visit privateproperty.co.ca to discover more and learn about the property market.