Lee-Anne Bac, the head of property advisory at Grant Thornton, said these low levels of optimism were a reflection of the tough trading conditions faced by both the property and construction industries.
"A reduction in orders due to the generally sluggish economy has impacted on these sectors and while we know that (the) government's infrastructure upgrade is in the pipeline, there is no clear indication of when projects will be launched, compounding concerns about the future," she
The report showed that the most significant constraints to doing business in the property and construction sectors were regulations and red tape (49 percent), the lack of availability of a skilled workforce (40 percent) and a shortage of demand (36 percent).
said although these were the top constraints identified, they were particularly pertinent to the property and construction sectors.
"Over-regulation also has a real stranglehold on this sector, which could lead to further stagnation if not addressed," she