Oct
2013
An eyesore, yet we all tend to ignore or sometimes even participate in. Consumerism and our disposable lifestyles are costing us millions.
What does this mean to our property value?
Dump sites usually imply neglected spaces and bad reputations, and once a reputation is fostered it does not easily let go. We do this randomly and without respect for the value of things, and when we then need to attain value in property anything but us consumers are blamed for the “lack” of value.
If we look at the latest finding by Pikitup (a waste disposal company), according to their spokes person Desiree Ntshingila, it is costing the City council of Johannesburg R170 million annually in waste disposals. Ntshingila says mostly construction firms are responsible for this illegal dumping, referring to Johannesburg’s CBD. There are many councils whom are trying to revive inner city living, and this is certainly not the way that will be achieved.
One of the contributing factors in companies opting to “urbanize” their businesses is dumping, which devalues property and customers don't want to visit unattractive areas.
This phenomenon is not exclusive to Johannesburg’s CBD. It happens in some upmarket residential areas too. Alterations are done on homes and residents are too lazy to dispose of the debris, or it is too costly to dispose of the rubble in the correct manner and illegal dump sites are born. With this comes vagrants hoping for a crumb and squatters follow soon. Your property value will then be negatively influenced by your actions.
If government were to implement the taxes correctly, the R170 million from Johannesburg alone would be enough to build 588 RDP homes. 588 possible vagrants off our streets and possibly more job opportunities created through extended RDP housing projects.
Illegal dumping creates “a dump”. Be sure that even if you drive to the neighbouring suburb, it will influence you property value too.
