| Commercial sector to feel power hike |
04 March 2010 |
Commercial property owners and tenants will be significantly affected by Eskom’s electricity tariff hikes.
The news that Nersa granted tariff increases of 24,8% for 2010, 25,8% for 2011 and 25,9% for 2012, comes at a time when market conditions in the commercial property market are already under pressure.
Norbert Sasse, CE of Growthpoint, says ... |
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| SA ranked 24th on property rights index |
04 March 2010 |
According to the 2010 International Property Rights Index (IPRI) released on Tuesday, South Africa has retained its position at number 24 out of 125 countries measured.
The index is prepared annually from a study conducted by a Hernando de Soto, fellow at the Washington-based Property Rights Alliance. It is supported by 62 partner organisations worldw... |
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| Khayelitsha moving into the limelight |
01 March 2010 |
Once a convenient apartheid era dumping ground on the windswept Cape Flats for displaced black people, Khayelitsha is undergoing a metamorphosis, thanks to the R1.5-billion Urban Renewal Project that is slowly changing the area.
With projects that include a new hospital, a new court complex, government offices and rail extensions into previously unser... |
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| Durban gets major facelift for World Cup |
25 February 2010 |
Music spills out of a surfer bar and onto a clean-swept boardwalk, where a Muslim woman in a long veil negotiates the fare for a ride in a beaded Zulu rickshaw.
Despite Durban's diverse sundowner crowd along the city's beaches, the rickshaw puller doesn't have far to go right now.
The walkway ends just about 200 metres (yards) away in an enormo... |
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| 2009 building plans passed -21,7% y/y |
19 February 2010 |
Recorded building plans passed at constant 2005 prices in South Africa during 2009 are minus 21,7% year-on-year (y/y) from minus 5,8% for 2008, Statistics SA reported on Wednesday.
The data showed that the value of recorded building plans passed by larger municipalities during 2009 decreased by 21,7% (-R17,265m) compared with 2008.
The larges... |
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| Cape recovery gains momentum |
19 February 2010 |
The Cape’s residential sector’s recovery is gaining momentum and the average regional selling price in January was R1,7m.
These are some of the findings in the most recent figures from PropStats, the Western Cape Institute of Estate Agents’ new monthly statistical review (available to agency principals and managers).
Over R1bn worth of confir... |
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| New homeowners warned to check for faults within 24hrs |
19 February 2010 |
Against this backdrop of increasing new homeowners and the fast pace at which property is being built today, many consumers are not taking the time to inspect their new homes during the crucial period of moving in - often to the detriment of their properties long term value, warns the Master Builders Association Western Cape (MBAWC).
Rob Johnson, Exe... |
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| Knysna buyers go for quality of life |
15 September 2009 |
Knysna is riding out the recession and the good news is that there is increased interest from serious buyers, according to Alan Evans, Principal of Seeff Properties Knysna.
“We tend to lag behind the big cities by a few months, so the distressed sales effect has not yet had a major effect. But it is starting and the Knysna property market has not yet ... |
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| Seeff beats winter blues |
15 September 2009 |
In July, Seeff Properties recorded its best performance since March last year - year on year, July 2009 sales figures were up 30% from July 2008 - despite the fact that the country is gripped by recession and that, traditionally, South Africans don’t buy property in mid-winter.
Seeff Properties chairman Samuel Seeff said buyer activity was always low in J... |
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| The Four Factors Buyers should be aware of |
15 September 2009 |
For most South Africans one of the most important long-term investments in their lifetime will be their homes; it therefore requires careful thought and consideration - a wrong decision can often be a costly one. It’s not just about buying the house you’ve fallen head over heals in love with.
“Potential buyers should be aware of four pivotal factors r... |
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| FNB’S 95% BONDS TO SELECTED BUYERS COULD BE THE CATALYST THAT THE RESIDENTIAL SECTOR NEEDS, SAYS LANICE STEWARD |
07 August 2009 |
The revival of the residential property sector has been held back by the banks’ reluctance or inability to fund bonds on their previous scale – but there are, says Lanice Steward, MD of Anne Porter Knight Frank, now signs that the situation is changing gradually.
“FNB,” said Steward, “is now offering 95% bonds to certain qualified buyers. This will be... |
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| FNB RESIDENTIAL PROPERTY BAROMETER STILL POINTS TO A HOUSEHOLD SECTOR UNDER SEVERE STRESS |
07 August 2009 |
The second quarter results of the FNB Residential Property Barometer survey show a stuttering in the recent trend in demand activity levels, with estate agents surveyed reporting an almost insignificant decline in demand activity from 4.8 in the previous quarter to 4.79 (scale of 1 to 10).
However, seasonal factors may be largely responsible for this,... |
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| COLLEAGUE PRAISES BILL RAWSON’S INVESTMENT ADVICE |
07 August 2009 |
| With arguments being tossed back and forth on whether or not this is the right time to be investing in residential property, it was interesting to hear a colleague of the Rawson Group who has had 16 years association with them, tell a gathering of new franchisees that he had faithfully followed Bill Rawson's advice columns in the Cape press and had from 2003... |
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| The Best Time To Buy Is Right Away! |
09 July 2009 |
With home prices in decline, many prospective buyers are trying to decide when would be the best time to take the plunge.
The question comes into play, says Berry Everitt, CEO of the Chas Everitt International property group, especially for buyers who have an existing property to sell and want to scale up to a better property. Do they go ahead or wait... |
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| SOUTH AFRICA IS 55 000 BEDS TOO SHORT FOR THE WORLD CUP! |
09 July 2009 |
More than 55 000 soccer fans are yet to book accommodation for the 2010 Soccer World Cup, and Seeff Properties and football icon Gary Bailey have joined forces in an innovative joint venture that will see South African property owners score by letting their homes to alleviate the crisis.
“As we count down to the most historic event this country is lik... |
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| GRAND MAISON COMES UP FOR SALE IN CONSTANTIA
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09 July 2009 |
A large home in Constantia, a “grand maison” originally built for the Portuguese Consulate General, is on the market for R4,95 million.
The agency handling the sale is Anne Porter Knight Frank, represented in this case by Anne Wilkinson.
Wilkinson said recently that the home, situated in Spaanschemat River Road, on 2 076m”, has four spacious be... |
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| Look out for the off-plan bargains |
29 June 2009 |
An off-plan purchase now means that buyers will probably be able to peg the cost of a home to be delivered in 2010 or 2011 at the 2008 price.
"This will give them a big headstart when the market turns and prices begin to rise," says Keith Nash, sales director of Sable Homes.
Other reasons to buy off-plan units now include the fact that there is... |
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| Property consumers to get protection? |
29 June 2009 |
The newly proclaimed Consumer Protection Act is likely to introduce changes in the real estate industry.
But to what extent is still unclear, says Dr Willie Marais, national president of the Institute of Estate Agents (IEASA). "We are in the process of determining the practical implications of the Act, which was proclaimed at the end of April," he say... |
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| Constitutional Court Gives Joe Slovo Informal Settlement Eviction the Thumbs Up |
29 June 2009 |
Statement issued by Thubelisha Homes on Joe Slovo Constitutional Court judgement
Responding to the judgment handed down today by the Constitutional Court in respect of Joe Slovo informal settlement, General Manager of the N2 Gateway Pilot Project, Prince Xhanti Sigcawu, said:
“A better life beckons for the people of Joe Slovo informal settlemen... |
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| Perennial Pietermaritzburg Appeals to Broad Cross-Section of Buyers |
17 June 2009 |
The residential property market in Pietermaritzburg – capital of KwaZulu-Natal – continues to show resilience with steady sales, reports Barbara Becker, area principal for Pam Golding Properties.
"For many reasons, including availability of good schools - which is a huge drawcard for families - and the number of government employees here, our market c... |
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| Cape Town Central City Chosen as Downtown of the Month |
17 June 2009 |
Cape Town Central City Chosen as Downtown of the Month by international organisation.
Cape Town’s Central City has been chosen as the International Downtown Association’s (IDA’s) Downtown of the Month and is prominently featured on the homepage of this organisation – the world leader and champion for vital and liveable city centres.
The IDA was... |
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| Reserve Bank Getting it Right, But it's Only Half the Equation
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17 June 2009 |
| ################ ... |
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| These areas popular in CT north |
01 June 2009 |
The most active area in Cape Town's Northern Suburbs is Vierladen, where prices range between R800k and R12m.
So says Charl Louw, principal of the local Chas Everitt International branch, who adds that older homes in Welgemoed and smaller homes in Boston are fetching better prices in relation to asking price than their trendy new counterparts in Van R... |
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| Mauritius Residential Property Launched to SA Investors |
01 June 2009 |
UK developer Mordaunt Estates, in partnership with Erna Low Property and Lynn Estates, today launched a residential property development in Mauritius, called Emerald Heights, to South Africans.
Structured on the Mauritius Board of Investment’s approved Real Estate Scheme (RES), the investment allows the purchase of a freehold title to a luxury apartme... |
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| Property Ownership for Foreigners, No Hidden Disadvantages |
01 June 2009 |
A whole list of successfully managed international sports events has proved to the world that South Africa is a safe haven for this type of activity – and has the skills and dedication to see that they run smoothly.
This was said this week by Tony Clarke, MD of Rawson Properties, who then listed 24 major events- from the Rugby World Cup, the A1 Grand ... |
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| Foreign investments more popular now |
20 May 2009 |
With relaxation of exchange controls, more foreign travel and greater availability of low-cost offshore mortgage finance, more South Africans are looking at foreign property ownership.
As South Africa cements its place in the global economy many property investors are questioning the wisdom of having all their real estate investments in one country.
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| Tokai Home Priced to Sell Fast |
20 May 2009 |
In a recent talk FNB economist John Loos has confirmed that Cape Town property values are coming through the current depressed economic period in a better shape than those of other areas in South Africa – and this, says Lanice Steward, MD of Anne Porter Knight Frank, is particularly evident in Tokai, which remains “perennially popular”.
Here, she says... |
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| UK house prices up before end-2009 |
20 May 2009 |
The UK's mass-circulation Sunday Times Money supplement has run a report in which they quote three of the country's biggest lending institutions as saying that further price falls will not be above 7% and that prices will be rising again before the end of this year.
Lloyds, now Britain's biggest lender, Halifax and Nationwide all agreed that Lloyds' o... |
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| Further Step in the Right Direction, Says Dr Andrew Golding, Re Repo Rate Decision |
20 May 2009 |
The announcement that the repo rate has been reduced by a further one percent is another step in the right direction towards helping facilitate an economic recovery and help stimulate the housing market, says Dr Andrew Golding, CE of the Pam Golding Property group.
"Under normal circumstances, the reductions to date in the interest rate would have alr... |
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| Kenilworth centre upgrade underway |
12 May 2009 |
The refurbishment of Cape Town's Kenilworth Centre is well underway.
In excess of R100m has been allocated to the upgrade, which started in September 2007 and is anticipated to be completed by September this year.
According to Anton Raubenheimer, Fountainhead's MD, the gross lettable area will increase from 43,000sq m to 48,000sq m. "The new Ga... |
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Residential Property
Buying Your First Home: Everything You Need to Know Before Taking the Leap |
12 May 2009 |
Buying your first home can be a daunting experience; with all the hype in the news about high interest rates, repossessed homes, and the near impossibility of obtaining a home loan most people are running, sprinting, towards renting a home instead of running the risks of buying one.
But even with all the negative press about the current state of the p... |
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| Gautrain Sparks Property Boom |
12 May 2009 |
Property developments worth billions planned around stations.
THE R22-billion Gautrain, linking Johannesburg, Pretoria and OR Tambo airport has been much maligned, but it has sparked a massive commercial property boom around its stations.
A spokesman for the Gautrain project said that while property prices had declined in other parts of the cou... |
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| Jacob Zuma's House: The President Elect is Set to Live it Up Once More |
05 May 2009 |
The House that Cecil John Rhodes Built is soon to be president elect Jacob Zuma’s new home when he takes up presidency this year.
The Groote Schuur manor house, on the prestigious and exclusive governmental estate Groote Schuur in Rondebosch, was home to Zuma during his deputy presidency four years ago and now he is getting ready to go back home. Zuma... |
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| Change of Attitude By Banks Now Essential |
05 May 2009 |
How much longer will the banks remain impervious to the ongoing criticism from estate agents, homebuyers and sellers that they are wrecking the residential property industry?
This is the question many will be asking after hearing Ivan Neethling’s, Chairman of the Western Cape branch of the Institute of Estate Agents, latest report on the frustrations ... |
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| New Era For Cape Estate Agency Sector |
05 May 2009 |
The new era of “true professionalism” promised by the Western Cape branch of the Institute of Estate Agents has become a reality: this month saw the first 800 estate agents to qualify under the new National Qualifications Framework Level 4 receive their certificates at a function at the Grand West Casino.
The occasion was sponsored and organised by SS... |
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| Digital Street Signs |
06 April 2009 |
| Here’s a government 2010 initiative that is taking precedence right now. Digital street signs are about to be introduced countrywide that will allow all South Africans to read and understand the street names, no matter which of our 11 official languages is their mother tongue. In each major centre, the most common indigenous language will be used as the defa... |
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| SA Remains Popular Choice for Germans Relocating |
06 April 2009 |
South Africa remains a popular choice for Germans who are looking to relocate to warmer climes, says Dina Porteous, area principal in the Margate area for Pam Golding Properties.
Yvonne Booysen, manager of PGP Margate's rental division, together with Gaby Moessner, manager of the Pam Golding Property group's German office, recently attended the SÜD-A... |
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| Leapfrog Property Group Reports Strong First-Quarter Sales |
06 April 2009 |
Homan says properties above R1,5m and especially those in the range R2m-R3m are not selling. For example, Tokai had only a few sales in that price range in the last five months, with some ten different estate agencies vying for market share.
In terms of human resources, Leapfrog Constantia also gained by attracting two experienced agents: one from Cl... |
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| First-time buyers swing market |
06 April 2009 |
The action in the property market has clearly swung to the lower and lower middle income categories, where first-time buyers are now much in evidence.
So says Bill Rawson, chairman of Rawson Properties, who adds that this is where upgrades are taking place across the board, resulting in satisfactory year-on-year (y/y) price increases.
The past ... |
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| OMIGPI creates team to spur growth |
03 April 2009 |
Old Mutual Investment Group Property Investments (OMIGPI) has embarked on creating a centralised fund management team as a key part of reaching growth targets.
Its growth strategy is aimed at achieving assets under management of R100bn by 2015.
The centralisation of fund management is fundamental to enhancing the focus on performance for fund... |
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| Jhb's YMCA building goes mixed-use |
03 April 2009 |
The historic YMCA building in Braamfontein is currently being converted into a biggest mixed-use development.
The new development will consist of 4,000sq m of commercial space, 190 residential units and prime retail space.
"The building has an interesting legacy and will no doubt attract both residential and commercial tenants who are 'early a... |
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| Beware the inexperienced developer |
03 April 2009 |
The tough market conditions have shown that there is a wide variety of ethical standards among developers as regards the quality of their projects and whom they employ.
These comments were recently made by Mike Greeff, chief executive of Greeff Properties.
Greeff said good developers show how to cost and control their projects in such a way tha... |
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| Retail section opens at CT project |
02 April 2009 |
The retail component of Eden on the Bay, a new mixed-use development situated on Bloubergstrand's Big Bay Beach, opened its doors for the first time recently.
The retail offering is anchored by a Pick n Pay Family Store and Clicks Pharmacy. Anchors are complemented by a selection of beauty, health, fashion, convenience, service and speciality stores a... |
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| Property sales up in rural areas |
30 March 2009 |
A property group is reporting sharply increased property sales in its non-metro franchises.
"These offices are reporting exceptional sales in stark contrast to the end of last year, when several of our non-metro outlets had few, if any, sales for consecutive months," says Hennie Combrinck, area manager of the RealNet's non-metro region, which includes... |
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| Stilfontein coins with rent demand |
30 March 2009 |
Demand for rental properties is surging in and around Klerksdorp and old mine houses in Stilfontein, about 15km away, are being targeted.
Wesley Lamprecht of the local Aida estate office says prices for the Stilfontein mine houses start at around R250k, compared to about R550k for family units in the older areas of Klerksdorp. Landlords of Stilfontein... |
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| Cape homeowners should hang tight |
30 March 2009 |
Every Cape property owner should hang on to their property investments for another 18 months if they can possibly afford to do so.
So says Tony Clarke, MD of Rawson Properties, who adds that "my feeling, is that we are now are at the bottom of the value graph and that further extreme falls are unlikely".
"From the next quarter onwards I see ho... |
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| Interest in fractions on the rise |
25 March 2009 |
General interest in fractional ownership in SA is on the rise, with interest from the UK, USA and Canada showing good growth.
"Month-on-month we are seeing higher numbers of unique visitors (separate individuals) entering our fractional ownership pages across all websites in The Fractional Network, which is now averaging 7,000 to 9,000 unique visitor... |
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| Comment now on Jhb rates policy |
25 March 2009 |
The City of Johannesburg is calling for comments on the draft revised rates policy and by-laws before 31 March 2009.
Your comments, in writing, should be sent to Themba Dhlamini, committee support secretariat, 2nd Floor A Block, South Link, 158 Loveday Street, Braamfontein or emailed to ThembaD@joburg.org.za or faxed to 011 403 2476. You can also call... |
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| The Ultimate Constantia Home Now Up for Sale |
25 March 2009 |
How many times in the last five years have we heard Constantia estate agents claim that the house that they are now selling is the ultimate in what this sought after area can offer?
At least once every two months statements of this kind have cropped up in property advertisements and editorials, often regrettably without any real justification.
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| Noordhoek plot fetches record R8m |
20 March 2009 |
While overall demand for housing has slumped to 20-year lows, there still appears to be plenty of appetite for undeveloped stands in prime coastal areas.
Six plots were sold for between R3,5m and R8m apiece in Noordhoek last week within days of the land coming on to the market.
The R8m price tag fetched for a 3,430sq m plot among the vines of... |
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| More permanent residents in Hermanus |
20 March 2009 |
Six years ago, around 45% of Hermanus's population comprised permanent residents, many of whom were retirees.
Today, the coastal town's permanent resident quota has climbed to an estimated 75%, according to local real estate principal Niek Swartz of Acutts Hermanus.
While some of these newcomers hail from overseas, many are entrepreneurs from ... |
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| SA Residential Property Drastic Interest Rate Drops Now Essential |
20 March 2009 |
At a time when virtually every country in the developed world has reduced its interest rates by ±80%, South Africa is still adopting a conservative, reactionary attitude to rate cuts - and is paying a high price in stagnation for doing so.
This is the view of Mike Greeff, CEO of Greeff Properties.
"It is no secret," said Greeff, "that unaffor... |
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| The Difference Between a Pre-Qualified and a Pre-Approved Buyer |
16 March 2009 |
While it is now widely understood that the National Credit Act and the banks’ current liquidity problems have made getting a mortgage loan far more difficult, a great deal of time and effort are still being wasted by sellers and agents because they do not appreciate the difference between a pre-qualified and a pre-approved buyer.
Explaining this recen... |
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| Ground broken at new game reserve |
16 March 2009 |
Groundwork has started at a multi-million rand, 4,000 ha game reserve, adjacent to the Kruger National Park.
Private developer Lugedlane Developments (Pty) Ltd, a joint venture with majority shareholders Mjejane Trust and Hanrob, is developing luxury housing, a hotel and the lodge on a game reserve located along the Crocodile River in Hectorspruit, M... |
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| Cash buyers active in Mossel Bay |
16 March 2009 |
Cash buyers are doing the rounds in Mossel Bay as property prices shift down a notch.
That's the news from George Krause, principal of leading local agency Homenet Mossel Bay, who says that properties priced around R1m are "best sellers" at the moment, with the majority being snapped up by cash buyers from the inland provinces.
Mossel Bay is h... |
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| Even White House's value dropped |
10 March 2009 |
If 1600 Pennsylvania Avenue, Washington DC, was on the market, its listing price would have dropped from around $332m in January 2008 to $300m today, according to real estate website Zillow.com.
Best known as the White House, even it would not be immune to the current global real estate downturn which has put a major damper on price growth, says Pat ... |
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| Holiday rentals price-sensitive |
10 March 2009 |
The holiday accommodation market is very active - and very price-sensitive - and even the overseas market is price-sensitive.
"The tourists are 'buying down'. Where they used to focus on the five-star market, they are now focusing on the self-catering three-star market," says Monté Jordaan, MD of Somerset West-based investment property marketing comp... |
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| Randburg market suddenly turning |
10 March 2009 |
The Randburg property market is experiencing a sudden surge in activity with enquiries and show-day attendance spiking.
Greg Wilson, sales agent for the local Chas Everitt International franchise, says the market "turned" in mid-January, just months after the bottom effectively dropped out of the entry-level sector.
The lull came when first-ti... |
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| Batten Down the Hatches 'Till July, Say Experts |
26 February 2009 |
Not until July can homeowners and sellers expect the property market to show any real improvement.
That’s the word from Berry Everitt, MD of the Chas Everitt International property group, who says that while the next six months will present many opportunities for brave investors, and should see at least one more interest rate cut, “I don’t think the ... |
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| Values dropping in these CT areas |
26 February 2009 |
Eighteen months ago the average price of a home in Cape Town's Grassy Park was R700k to R950k with the best homes selling at about R980k.
Today, every one of these homes and those of the related suburbs has dropped in value by between R100k and R150k, says Ivan Neethling, MD of Startprop, a real estate agency that serves Southfield, Plumstead, Retrea... |
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| Zim deal positive for SA market |
26 February 2009 |
The inauguration of Morgan Tsvangirai as the Prime Minster of Zimbabwe is the latest in a series of events set to have a positive effect on the residential property market within the next few months.
"We are already seeing signs of recovery in the market, including more visitors at showhouses and more purchasing by investors who believe the cycle is a... |
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| Jhb commercial rentals growing |
24 February 2009 |
The revival of commercial property in the Johannesburg CBD continues as gross rentals rise and vacancies fall, while gross rental prices in the Sandton CBD move sideways.
These are the findings, among others, of the recent Office Barometer 2009 report by JSE-listed property group Colliers International.
"The South African property market was ... |
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| Commercial market buoyant |
24 February 2009 |
With equities remaining under pressure after a year in which investors have had to endure a turbulent marketplace, the commercial property market in general remains buoyant with cash investors aplenty seeking the right yields.
So says Geoff Stroebel, general manager of Pam Golding Commercial (PGC), who adds that there is still demand for the purchase... |
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| M'langa to meet new housing target |
24 February 2009 |
The revised Mpumalanga target of completing 13,682 housing units will be met this year.
Delivering his State of the Province Address on Friday, Premier Thabang Makwetla said the progress that the provincial government had made last year put the province in a better position to complete all incomplete houses and resume the building of new housing proj... |
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| Check home power network regularly |
19 February 2009 |
It can take a whole house burning down to make people realise how important it is to regularly check their home's electrical network.
So says Lanice Steward, MD of Anne Porter Knight Frank, who adds that electrical faults are probably the most common cause of fires in domestic buildings.
"Whenever a house is sold it has to have an Electrical C... |
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| What Gautrain will do for property |
19 February 2009 |
The Gautrain, currently under construction at a cost of R3m an hour, is poised to change not only the commuting habits of thousands of Gauteng residents but also where they choose to live and play.
According to Realty 1 International Property Group principals in and around Peretoria and Midrand, the multi-billion rand project could inject new interest... |
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| EL prices now more realistic |
19 February 2009 |
Property prices in East London have moderated considerably and sellers in general are now far more realistic than last year.
So says Lance Gouws, principal of leading local agency Homenet Cornerstone, who notes that sales activity is increasing steadily.
A number of factors have converged in favour of buyers, he says. "In July last year, the n... |
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| Distressed sales jump with bad debt |
16 February 2009 |
Some 1,200 South Africans are losing their homes under the hammer every month because they can no longer afford monthly mortgage repayments.
Latest figures from auctioneers Alliance Group show that forced property sales have increased more than eight-fold over the past year. Alliance Group CE Rael Levitt says the group placed around 1,200 distressed p... |
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| Lower Constantia draws downscalers |
16 February 2009 |
There is now a discernible trend in buying at Constantia: Older retired people are downscaling to Lower Constantia.
So says Mandy Kuhn, an Anne Porter Knight Frank (APKF) agent, who adds that in most cases they move into a more secure gated estate.
"The scarcity of this type of housing makes such estates now one of the best performing propert... |
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| Khutsong to get 18,000 new homes |
16 February 2009 |
An agreement was signed on Thursday for the implementation of a human settlement project to build 18,000 homes in Khutsong in the North West prtovince.
This is supported by community and economic infrastructure as part of the Khutsong Resettlement Initiative.
Gauteng Housing MEC, Nomvula Mokonyane, representing Housing Minister Lindiwe Sisulu ... |
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| Interest Rate Meeting: No Half Measures |
11 February 2009 |
South Africa’s largest bond originator calls for a full 1% interest rate cut at February’s Monetary Policy Meeting (MPC) saying that the time is right for bolder measures.
“Property owners won’t benefit from half measures this time,” said Saul Geffen, chief executive of Ooba, formerly MortgageSA. “While Ooba and South African consumers welcomed the h... |
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| CT 'sports house' auctioned 18/2 |
11 February 2009 |
The famous Webb Ellis house – "the sports house" – will be auctioned on Wednesday 18 February.
Named after William Webb Ellis, who founded rugby as a sport in 1823 by picking up a soccer ball and running with it, the house is right across the road from the Newlands rugby stadium and a stone's throw from the Newlands cricket ground in Cape Town.
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| There Has Never Been a Better Time to Buy than Now |
11 February 2009 |
The recent 0,5% drop in the interest rates will almost certainly be followed by further drops giving a total reduction of 2,5 to 3% by the third quarter of next year, says Johannes Barnard, Executive Sales Manager for ASLO Holdings.
“In these circumstances,” said Barnard, “all the advice which we have given in recent weeks to buy now becomes more rel... |
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| Second bonds a finance solution |
10 February 2009 |
It now looks as if the major banks will continue to keep tight purse strings on bond loans no matter how much the interest rates fall.
So says Lanice Steward, MD of Anne Porter Knight Frank (APKF), who adds that it was previously possible to get a 110% bond, today Absa (and other) banks are asking for a 30% deposit. With transfer and other costs, thi... |
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| Pta to get big data centre |
09 February 2009 |
Construction of a multi-million Rand data centre at Samrand in Pretoria – thought to be the largest in Africa – is well underway.
The high-availability centre includes several data halls supported by specialised ancillary services, including HVAC, fire and electrical services, states Esrom Phaka, contracts director at Grinaker-LTA Building Inland. Th... |
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| Vaal Triangle centre to get upgrade |
09 February 2009 |
A retail centre in the Vaal Triangle will soon be upgraded and extended.
Flanagan & Gerard Investments (Pty) Ltd and East and West Investments (Pty) Limited, a member of the Moolman Group of companies, have jointly acquired the Bedworth Park Pick n Pay Hypermarket in Vereeniging. The new owners of the property, which is located on the corner of Ascot... |
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| Rawson Says Bond Originators Must Stay |
05 February 2009 |
Recent suggestions that bond originators no longer have a role to play in the residential property market are, in his view, way out of line, says Bill Rawson, Chairman of Rawson Properties.
Reviewing the background to this issue, Rawson said that in “the old days” the building societies charged fixed interest rates depending on the size and value of ... |
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| Rawson Calls for Tax Rebates on New Housing Developments |
05 February 2009 |
Trevor Manuel’s stimulatory tax incentives for companies redeveloping disadvantaged urban areas are widely acknowledged to be exactly what SA developers need – and they have great spinoff benefits for the areas where they go into action.
Why not now extend the offer to those involved in new housing, especially if it is targeted at the lower income gr... |
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| Housing MEC Fulfills Promise to Wallacedene Residents |
05 February 2009 |
2 500 HOMES TO BE HANDED OVER
Western Cape Housing MEC Whitey Jacobs is fulfilling a promise made to the family of the late housing activist Irene Grootboom and residents of Wallacedene by returning to the area to hand over a large number of houses.
The MEC made this promise when handing over a home to Grootboom’s family in August 2008, soon ... |
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| Cashbuild revenue up 26% |
20 January 2009 |
The country's largest retailer of building materials and related products, Cashbuild (CSB), on Monday reported that revenue for the second quarter was up by 26% on the same period for
the prior financial year.
Stores opened since 1 July 2007 (new stores - 20 stores) contributed 7% of the increase, while existing stores (162 stores) contributed 19... |
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| Keep loan payments at old levels |
20 January 2009 |
Thousands of homeowners are overpaying on their home loans in an effort to reduce their debt – and many more are expected to keep their monthly repayments up even though they have started to decline with lower interest rates.
Kay Geldenhuys, manager of Property Financing and Insurance Processing at ooba (formerly MortgageSA), says clearing home loan ... |
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| St. Francis project launches stands |
20 January 2009 |
Twenty-eight stands have been made available to buyers at a new security estate in St Francis Bay.
Jennifer Cooper of marketing agency Chas Everitt International says the majority of buyers in St Francis Bay come from Johannesburg, Pretoria and overseas in search of a quiet, crime-free way of life.
Leightons estate's homes are characterised by ... |
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| German Buyers Keen to Benefit from World Cup Impact on South African Property |
15 January 2009 |
Many foreign investors are still keen to acquire properties in South Africa, despite the property slowdown and global economic turbulence. Prized areas are the Western Cape, Garden Route and cities that will host the 2010 World Cup.
Says Ian Slot, MD of Seeff Atlantic Seaboard, CBD, City Bowl and V&A Waterfront: “It is still too early to tell wha... |
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| Durban North a Catchment Area for Families |
15 January 2009 |
| The well established and ever-popular area of Durban North has grown into an urban retail hub and with its close proximity to central Durban, La Lucia and Umhlanga and array of good schools, is proving a magnet for families, especially young families who are second time buyers looking to upgrade from a flat into a family house that offers value for money, sa... |
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| Don't Rest on Your Laurels |
15 January 2009 |
“It’s a tough market out there, but we’ve grown, accomplished much and we may finally be coming to a turning point for which we need to be prepared,” advises Niël Cronje, CEO Engel & Völkers South Africa.
The Real Estate Industry as we know it is changing and we will be forced to think differently about the future, in order to adapt and to enjoy t... |
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| Housing TV series back on screens |
12 January 2009 |
The television series Breaking New Ground (BNG TV) will kick off its third round of programming on Monday, the Department of Housing said.
The programme which is commissioned by the department educates and shares progress with the nation on the implementation of government's Housing Programme.
Head of Media Services at the department, Ndivhuwo ... |
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| Bushveld project goes fractional |
12 January 2009 |
A bushveld development near Bela-Bela in Limpopo is now offering fractional ownership.
The 496ha Intaba Indle consists of about 100 full-title stands and 10 fractional units, says Annelie Botha of Aida Warmbaths.
"A wide variety of game roams the extensive estate, set against the Waterberg, but there are no predators, which allows owners to fre... |
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| Absa Dec house prices up 1% y/y |
12 January 2009 |
The price of middle-segment housing in South Africa was up by 1% year-on-year (y/y) in December 2008 from 0,9% y/y in November, the country's biggest mortgage lender Absa said on Friday.
The bank added that in 2008, the average nominal price of middle-segment housing was up by 3,8% after rising by 14,5% in 2007.
This December outcome brought ... |
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| Road to benefit Gansbaai market |
07 January 2009 |
A new tarred road that will improve access to Gansbaai is set to dramatically increase tourism to the quiet seaside town and benefit the local property market.
The new road, currently under construction, will cut the distance between Gansbaai and Cape Agulhas by more than 50%, says Ewald Langeveld of the local Aida office.
"We expect the new ro... |
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| Market set to improve |
07 January 2009 |
Property owners under pressure to sell should do all in their power to hang on a little longer.
This is the advice of Young Carr, CEO of Aida National Franchises, who confidently expects that the market will turn for the better towards the middle of the year.
"The realistic view is that economic pressure will ease shortly: Interest rates are se... |
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| CT aims for 'green' cheap housing |
07 January 2009 |
The possibility of "greening" low-cost housing is being tested by the City of Cape Town.
Head of the New Housing Department, Peter Oscroft, said the city was trying to get an idea of what features could potentially be included into the low-cost housing budgets in order to increase their energy efficiency and reduce operational costs in the long run.
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| Housing budget up to 15bn by 2012 |
17 December 2008 |
The annual budget for housing delivery is set to reach R15bn by 2012, compared to a total of R100bn spent over the last 14 years.
This estimate was released at a press conference held by the Department of Housing on Monday to discuss the state of housing provision in SA.
The department's budget has increased by roughly 20% per year over the las... |
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| Growing objections to time spent commuting |
17 December 2008 |
The last decade has seen a huge increase world-wide in demand for homes that cut down the time spent on commuting – and no doubt this will continue, says Lanice Steward, MD of Anne Porter Knight Frank.
Even in “uncongested” Cape Town, she said, there is now a reluctance to waste time on commuting.
“Just how serious the situation has become in... |
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| Century City goes greener |
17 December 2008 |
All new buildings at the Century City precinct will have to start complying with green principles to reduce the carbon footprint.
Century City Property Owners' Association (CCPOA), a section 21 company that is responsible for the day to day management of the precinct, has amended its rules and regulations to ensure the execution of these measures.
... |
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| Phalaborwa lures retire investors |
15 December 2008 |
Phalaborwa, the quiet northern bushveld town bordering the Kruger National Park, is drawing quite a few investors who are buying retirement property.
So says Lelani Stucki of the local Aïda office who also reports that interest among this type of investor has picked up since the beginning of November and that she expects a busy holiday season.
... |
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| Dbn suburb gets highest '08 price |
15 December 2008 |
The highest price in Durban's Morningside for 2008 was achieved recently when a luxury home was sold for just over R6m.
"This property was listed for 42 days, selling quickly for such a top end property, especially in the current market where many properties are taking five months or more to sell. It highlights the importance of sellers' understandin... |
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| Investors now hunting for bargains |
15 December 2008 |
Prospects for the property market in the next six to 12 months are uncertain – yet investors are starting to hunt for bargains.
Tjaart van der Walt, CEO of the RealNet estate agency group, says the group's agents and franchises countrywide are reporting that investors are very keen to enter the property market before the new year.
"And, as the ... |
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| Rate cut: The impact on homeowners |
12 December 2008 |
The 50 basis points rate cut on Thursday brings fairly good relief to homeowners, as it signals a drop of around R500 per R1m of a bond.
So says Brian Falconer, CEO of Colliers International Residential, who adds that the decrease by 50 basis points signals that the tightening cycle has had the desired effect in reducing consumer spending and curbing ... |
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| Private Property Launches Online Property Auctions |
12 December 2008 |
| Private Property, in collaboration with bidorbuy.co.za, has just launched an online auction facility to provide owners with a new and innovative way to sell property. Sellers willing to take the chance can now take part in a real-time bidding process from the comfort of their favourite armchair, secure in the knowledge that their property is in safe hands. <... |
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| Direction of economic policy in South Africa |
12 December 2008 |
Reacting to the statement on the economic outlook made to Parliament yesterday by Trevor Manuel, Minister of Finance, Busa says:
Busa broadly agrees with the Minister of Finance’s assessment of the global and domestic economic situation and also believes that, although SA will not escape the effects of the global economic slowdown, economic growth will s... |
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| To fix or not to fix? Interest rate options top of mind at present
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27 November 2008 |
| “The best candidate for a two-year fixed bond rate is an individual who has absolutely no leeway in their monthly budget. If you have stretched yourself to get your home and can take on no additional expenses, then a two-year fixed rate will at least give you peace of mind that should interest rates go up, your repayments will stay the same” says Leon Barnar... |
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| Top prices being achieved for waterfront property |
27 November 2008 |
With financial markets and economies under pressure both nationally and internationally, in St Francis Bay in the Eastern Cape - at the gateway to the Garden Route, the residential property market remains relatively unscathed ˆ certainly in a far healthier situation than most," says Richard Arderne, Pam Golding Properties' area principal.
"Attracted ... |
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| At long last - good news for property!
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24 November 2008 |
After months of headlines announcing doom and gloom in the property market, here’s a long awaited positive story to our restore hopes, not just for now, but also the future.
It’s vital that, to succeed in such a highly competitive industry, estate agents, developers and others involved in the property business are naturally competitive. This desire t... |
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| Foreigners snapping up rentals in Camps Bay, Clifton and Bakoven
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24 November 2008 |
The demand for quality long-term rental properties currently exceeds the supply in Camps Bay, Clifton, and Bakoven, says Charles Bloem, specialist Seeff rental agent for these three areas. He also says that up to 80% of the properties on his books in recent months were rented to foreigners.
“Although these clients were mainly from Europe, there were ... |
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| Rozelle Village in Wellington comes standard with solar power and rainwater installations |
24 November 2008 |
| Wellington is rich in cultural heritage and scenic beauty, with excellent schools and medical services, a wide range of shops, a golf course, internationally acclaimed wine estates, nature reserves and hiking and bike trails - all only a 45-minute drive from Cape Town International Airport. Rozelle Village in Wellington is a new security estate offering upma... |
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| Century Falls Development Underscores Property as Stable Asset |
12 November 2008 |
Century Falls, the contemporary office park in the rapidly appreciating Century City precinct, adjacent the landmark Canal Walk shopping centre, is another example of Louis Group’s successful property development strategy.
The 94-year-old family business with interests in England, Germany, Isle of Man, Namibia, South Africa and Switzerland, is the la... |
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| New development in East London places emphasis on buyer needs |
12 November 2008 |
| In the current economic climate the launch of a new residential development which combines affordability and value-for-money with a desirable location and quality product is good news for home buyers – particularly first time purchasers, says Hanlie Bassingthwaighte, area principal for Pam Golding Properties East London, commenting on the new Gonubie Palms d... |
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| BUSA calls for new partnership with China |
12 November 2008 |
| Business Unity South Africa called for a new partnership for economic cooperation between Chinese and South African business in Africa. Addressing more than 400 hundred delegates attending the 3rd session of the World Industrial and Commercial Organizations Forum earlier today in Beijing, BUSA CEO Jerry Vilakazi said the new partnership should be premised on... |
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| Young retirees head for Plett |
04 November 2008 |
Traditionally a playground for the rich and famous, Plettenberg Bay is now attracting a new generation of retirees, both young and old.
Tim Hutchinson, principal of leading local agency Homenet Pick of Plett, says the Garden Route town is fast becoming a hub for those who have made their fortunes while still comparatively young. Unsurprisingly, a lar... |
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| Atlantic Seaboard struggling
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04 November 2008 |
The swanky Atlantic Seaboard, which until recently appeared to be reasonably immune to the overall housing slump, is now also being hit by negative sentiment.
New data from Seeff Properties' Atlantic Seaboard office show that sales of sectional title apartments in Fresnaye, Sea Point and Bantry Bay have halved from January to October 2008 (y-o-y).
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| Free Trade Access in SADC |
04 November 2008 |
| On the 17th August 2008 the South African Development Community (SADC) region was declared a Free Trade Area (FTA), with the primary objective aimed at promoting sustainable equitable economic growth and social development, therefore developing the SADC region as a formidable trading bloc for international investors. In support of the initiative, the NEPAD B... |
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| Opinion Piece: Here's a strong case for investing in London and UK property
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30 October 2008 |
Investing in professionally managed “buy-to-let” UK property, particularly in London, remains an excellent vehicle for South Africans to build a long term, hard currency asset that complements other local and international investments.
This is the view of Russell Dick, a director of Shorevest, a Johannesburg and London-based property wealth managemen... |
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| Free Trade Access in SADC |
30 October 2008 |
| On the 17th August 2008 the South African Development Community (SADC) region was declared a Free Trade Area (FTA), with the primary objective aimed at promoting sustainable equitable economic growth and social development, therefore developing the SADC region as a formidable trading bloc for international investors. In support of the initiative, the NEPAD B... |
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| Amdec and Afhco deliver R580 million affordable housing residential community for New Doornfontein |
30 October 2008 |
| What began as a single building residential conversion project to create important affordable housing in central Jo’burg has been skyrocketed into an unprecedented multi-building conversion of over a dozen neighbouring properties to create one of South Africa’s most exciting residential suburbs and an urban renewal initiative on a flabbergasting R580 million... |
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| SA has interesting housing trends |
20 October 2008 |
The Trafalgar City report 2008, launched on Thursday, reveals that analysis done on private and public sector property sales over the past two years has unearthed interesting trends throughout South Africa.
It showed that highly sought-after residential areas have experienced dramatic property price hikes despite the escalating interest rates.
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| Value of building plans passed down |
20 October 2008 |
The value of recorded building plans passed by larger municipalities at current prices during January to August 2008 decreased by 3,6% (-R1,997m) compared with January to August 2007, figures released by Statistics South Africa on Wednesday showed.
Decreases were reported for residential buildings (-11,4% or -R3,467,800) and additions and alterations... |
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| New mixed-use fractional option
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20 October 2008 |
| The Zorgvliet Group, a family enterprise headed up by CEO Mac van der Merwe, was initiated in 2002 with the purchase of Zorgvliet Wine Estate in the Banghoek Valley, in the heart of the Cape Winelands near Stellenbosch. The historic farm with its stately manor (now completely restored to a restaurant), award-winning wines and five-star Vineyard Lodge & Spa, ... |
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| Peerutin architects establish a joint venture agreement with top UK firm
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17 October 2008 |
Peerutin Architects, the Cape Town architectural practice now based in Wembley Square, Gardens (which they designed) and which recently celebrated its tenth anniversary, is setting up a joint venture with the large, high profile UK and international architectural practice Dyer Associates.
Collaborative work is set to begin in January 2009.
Dale S... |
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| Mayor Zille lends support to investment opportunities-FREE Khayelitsha Fest Business Tour
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17 October 2008 |
Have you ever paused – just for a moment – to consider potential investment opportunities on the other side of the N2 right here on Cape Town’s very doorstep?
If not, now is your chance, courtesy of the Khayelitsha Festival Business Tour.
The Khayelitsha Festival Business Tour, a free Khayelitsha Festival initiative sponsored by the City of C... |
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| Melrose Arch office rental levels surpass Sandton CBD |
17 October 2008 |
With achieved gross rentals topping R200/m”, offices at Johannesburg's prestigious Melrose Arch node are giving the Sandton CBD, long acknowledged as the city's financial heartland, a real run for its money. Office rentals for triple A-grade space in Sandton CBD peak at R150/m”.
The latest phase of office development at Melrose Arch, 32,000m” of AAA-... |
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| SAPOA to Expand Existing Property Training Programme
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16 October 2008 |
| The South African Property Owner’s Association is set to expand and streamline its training and development programme in the coming months. The restructuring of its two property training programmes is a move intended to keep up with current market trends, and to improve the quality of the standards that have been set out by SAPOA. The move will see the intro... |
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| Comment by Seeff Properties Chairman Samuel Seeff on current concerns and outlook for the property market |
16 October 2008 |
| Our own property landscape has undoubtedly been bruised by the perception of a global financial crisis, the effect of which will unfortunately delay its expected recovery early next year. As far removed as we may be, the foreboding of news such as US financial institutions collapsing has a ripple effect on sentiment and confidence, and may well cause buyers ... |
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| Record price for stand on Nahoon River, East London |
16 October 2008 |
A vacant residential stand on the south side of the Nahoon River in East London has just been sold by Pam Golding Properties for a record price of R2.65 million - 30 percent higher than any single residential plot previously sold in the East London area. The stand is 790sqm in size with extremely scenic views.
Hanlie Bassingthwaighte, PGP's area prin... |
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| Lonrho to develop Angola project |
14 October 2008 |
Lonrho (LAF), the conglomerate with a structured portfolio of African investments, on Friday announced that it has signed an agreement to develop an aggregate project in the Province of Bengo, Angola, to supply the growing Angolan construction industry.
A new company, Lonrho Aggregates Angola (LAA ), will be established.
Lonrho will own 51% o... |
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| Cooking with gas
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14 October 2008 |
Gas stoves are becoming increasingly popular due to the number of advantages they offer when compared to their electric counterparts. Antonella Dèsi examines what these are.
Access to immediate heat
Change in temperature in electric stoves is a very gradual process. When using a gas stove however, the heat is immediate. You can change the tempe... |
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| Entrepreneurs not mortgage risk
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14 October 2008 |
Small business owners are often viewed as bad risks when it comes to mortgage finance, but new study shows that they are actually better risks than the average borrower.
The Experian study, which investigated the financial behaviour of 2,7m small business owners from April 2007 to April 2008, shows that fewer than three out of 100 business owners fell... |
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| Launch of Zorgvliet Private Residence Club
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10 October 2008 |
New five-star Zorgvliet Private Residence Club offers vacational ownership perks, including exclusive Zorgvliet Wine Estate living
The Zorgvliet Group, a family enterprise headed up by CEO Mac van der Merwe, was initiated in 2002 with the purchase of Zorgvliet Wine Estate in the Banhoek Valley, in the heart of the Cape Winelands near Stellenbosch. Th... |
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| Activity in the property market
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10 October 2008 |
It is said that every cloud has a silver lining, but is this true for South Africa’s current economic climate?
With the harsh trading conditions we have been experiencing recently, the property industry has been hit the hardest. According to Statistics SA, real estate growth slowed further, from 4.9% in the first quarter to 2.3% in the second quarter... |
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| Spring set to boost Pringle Bay – with scope for guest house growth
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10 October 2008 |
| When the sun comes out in the Cape and the visitors arrive, the most popular holidays spots will see a boost in activity. One of the most popular ‘holiday towns’ is Pringle Bay, situated on the Whale Coast, only 80 km (along one of the most scenic coastal drives in South Africa) from Cape Town International Airport, and within 1 hour's drive of Cape Town, se... |
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| Demand still steady in Camps Bay
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08 October 2008 |
There is still a steady demand for homes in Camps Bay, Cape Town, despite the tougher conditions affecting property buyers at present.
A landmark home on the Deep Glen side of the suburb was recently sold for R9,1m.
The house has four bedrooms, three bathrooms and three spacious reception rooms. Built on a rare double plot measuring 1,734sq m,... |
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| Property values: What's the truth? |
08 October 2008 |
Property sellers and buyers will be forgiven for being confused about what's happening with house prices.
The market has been bombarded by a wide array of housing data in recent weeks that doesn't paint a consistent picture of the current state of the residential property market.
For example, mortgage originator ooba and Absa Bank both releas... |
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| Alex hostels converted into flats |
08 October 2008 |
Alexandra is rapidly turning into a destination in its own right, thanks to the Gautrain station, the Alexandra Renewal Project (ARP), housing, improved infrastructure and facilities, and the Pan African shopping centre.
The starting premise of any work in Alexandra is one of conflict. But this means that the community has been consulted before any w... |
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| When price is not an issue
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07 October 2008 |
| Browsing through the internet it's apparent that those who seek to purchase or sell homes at the very top end of the property market are not really all that concerned about price, says Tara Whiting, sales agent in South Africa for the Pam Golding Signature Collection. "It's all about what makes that property so special and unique, and what the purchaser - ge... |
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| Pier 14 upgrade draws major national tenants |
07 October 2008 |
In another coup for the Port Elizabeth central business district (CBD), four national heavyweight retailers and financial giant, Old Mutual, will soon start trading from the Pier 14 shopping centre in North End.
The ongoing expansion and upgrade of the centre, believed to be costing owners Cobrole (Pty) Ltd in excess of R40-million, has to date rende... |
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| Activity in the property market |
07 October 2008 |
It is said that every cloud has a silver lining, but is this true for South Africa’s current economic climate?
With the harsh trading conditions we have been experiencing recently, the property industry has been hit the hardest. According to Statistics SA, real estate growth slowed further, from 4.9% in the first quarter to 2.3% in the second quarter... |
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| Modern mixed-use development proves popular in Maitland |
02 October 2008 |
Traditionally developers have built ‘box-like’ apartments for the lower-end of the market resulting in rather cramped living conditions. Maitland’s, Palm Terrace mixed-use complex is leading the way with its open-plan contemporary lifestyle design.
Nigel Mitchell of BZ Developers says that a lot of time and effort went into creating a Sea Point-type ... |
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| PW Botha's Wilderniss home up for auction
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02 October 2008 |
| The home that State President PW Botha retired to in 1989 after being forced out of the Presidency is up for public auction by instruction of the heirs of his Deceased Estate. Botha, known as the “Groot Krokodil” passed away in 2006 at the age of 90 and despite being an Apartheid President and vilified by the ANC in exile was afforded full presidential right... |
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| Sustainability guru from Brazil to speak in South Africa
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02 October 2008 |
Internationally renowned architect and urban planner Jaime Lerner has been confirmed as a keynote speaker at the inaugural Green Building Council of SA (GBCSA) Convention & Exhibition in November. He will present his “Sing a Song of Sustainable Cities” presentation and share his “common sense approach to sustainability” on a city scale.
Lerner, three... |
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| West Coast stand to be won |
01 October 2008 |
Open your heart and your hand and stand a chance to win a residential stand in one of the most spectacular settings on the West Coast.
The Herberg children's home in Robertson needs help to feed and clothe the 122 orphans and abused children in its care.
And big-hearted members of the public and companies who buy tickets in a competition to ra... |
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| Expropriation Bill nixed at last |
01 October 2008 |
It was announced in Parliament on Monday that the department of public works has finally withdrawn the troubled Expropriation Bill.
Monday's announcement said the bill was in fact withdrawn last Tuesday.
The bill, which would have allowed the minister to expropriate land and other property and to set the compensation to be paid, was considered... |
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| Proposed airport upgrade - positive for Plett's property market
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01 October 2008 |
| With strong local support regarding the proposed upgrade of the Plettenberg Bay airport in order to accommodate larger planes such as the 737 Boeing there is optimism that this will materialise - a move which will impact extremely positively on the area and on the residential property market, says Colleen Bunyard, an estate agent and local area specialist fo... |
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| Land-grab Bill is constitutional
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30 September 2008 |
The outgoing minister of Public Works, Thoko Didiza, has told a questioner in the National Assembly that her department has a legal opinion from senior counsel confirming the constitutionality of the Expropriation Bill.
Didiza told Maans Nel of the Democratic Alliance in a written reply that the department is however aware that a parliamentary senior... |
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| CT City to police property walls
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30 September 2008 |
Numerous complaints from city residents concerned about the safety of electrical wires mounted on top of property boundary walls has resulted the city drafting a boundary walls and fences policy.
Once the policy was finalised it would be included as a city bylaw, enabling authorities to police violations effectively said City Head of Planning and Buil... |
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| Estcourt grows as retire retreat
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30 September 2008 |
The KwaZulu-Natal Midlands town of Estcourt is constantly staking its claim as a prime retirement destination.
"Estcourt has an excellent climate and everything one needs in terms of shops, churches and sports facilities including golf and bowls," says Roy Emanuel of local estate agency Homenet Emanuel.
Launched in February this year, the firs... |
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| CT project boosts artistic flavour |
29 September 2008 |
Having a good old South African jol with a strong artistic tinge is now a lot easier with the opening of The Grand Daddy in Long Street, a four-star hotel mixing theatre, food and accomodation.
Hotel Group Daddy Long Legs are behind the concept, having acquired the Metropole Hotel in Long Street. Co-owners Jody Aufrichtig and Nick Ferguson have rename... |
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| WC's Whale Coast not unaffordable |
29 September 2008 |
The coastal road from Gordon's Bay to Hermanus is one of the country's most scenic routes, and it's no surprise that the small towns scattered along the way are hugely popular as holiday getaways.
They are known not only for their relaxed seaside lifestyle and whale-watching opportunities, but also for the numerous luxury homes which pepper the lands... |
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| Property values to rise by end '09 |
29 September 2008 |
While there is widespread acceptance in the residential housing market that the drop-off in sales volumes countrywide is in the region of 35%, there is a wide range of opinions as to how long this "stabilisation" period will last.
Discussing this matter recently, Tony Clarke, managing director of the Rawson Property Group, said Tito Mboweni's latest ... |
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| SA's mortgage stress still rising |
26 September 2008 |
With global financial markets in turmoil due to massive losses from the US and UK mortgage defaults, the South African distressed debt environment is certainly not out of the woods yet.
Until the recent international financial crisis, when two US mortgage giants were quasi-nationalised, Lehman Brothers collapsed, Merril Lynch and HBOS were forced into... |
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| CT business park resales on market |
26 September 2008 |
A business park in Cape Town Muizenberg is now completely sold out and resales are now coming on to the market.
Resales at the Muizenberg's Capricorn Business and Technology Park, the 68 ha high tech development which was launched some ten years ago, are now in a price range of R800 to R1,200/sq m.
To date the site has generated some R200m in l... |
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| Growthpoint Properties Limited closes R2.44 billion leasing deals |
26 September 2008 |
Growthpoint Properties Limited, South Africa's largest JSE listed property company has reported an exceptionally strong year for commercial property leasing, with deals and deal values far outstripping the tallies of the previous year.
During its financial year to 30 June 2008 Growthpoint concluded leasing deals valued at R2.44 billion for over 800,0... |
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| Benoni plots draw developers |
26 September 2008 |
Agricultural smallholdings on Benoni's periphery are attracting strong interest from developers who have identified their potential for residential development.
Patsy Pretorius, principal of the Chas Everitt International franchise covering the Far East Rand, says the trend is gaining momentum. A lack of land within the city is driving developers to ... |
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| Changes to landlords tax allowance |
25 September 2008 |
The new Revenue Laws Amendment Bill, issued 1 August 2008, includes a proposal to revamp the allowance which applies to residential housing units let out by the taxpayer. Tax expert David Warneke examines the proposal.
The new Revenue Laws Amendment Bill, issued 1 August 2008, proposes a number of interesting, but fairly complicated amendments to our ... |
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| Developers offer cheap deals
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25 September 2008 |
Bargain buying opportunities are starting to appear on the market, particularly in new sectional title projects, as it becomes increasingly expensive for developers to keep unsold stock on their balance sheets.
For instance, in the northern suburbs of Johannesburg well-established sectional title developer Summercon is now advertising new studio, one... |
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| Pta: R4.9m for Moroccan guest house |
25 September 2008 |
A stunning Moroccan style guest house located in Pretoria East's "TheWilds" double security estate is available for sale or to rent.
Built on a stand of over 1200 square metres, the house was designed by architect Joehan Erasmus. All the furniture, light fittings and curtains were imported from Morocco, India, Hong Kong and Indonesia especially for t... |
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| Fidentia head office goes under the hammer |
25 September 2008 |
Fidentia House, located at 1 Waterford Place in the gated complex of Century City, many eyes are expected to turn towards the auction floor as leading auctioneers, Alliance Group hammers home the latest of the Fidentia portfolio.
Lavishly decorated with brass fittings and balustrades covering 3 levels of ornate office space, this property leaves litt... |
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| SA's sub-prime danger is real |
23 September 2008 |
World financial markets have been in turmoil since the collapse of Lehmann Brothers, the sudden sale of Merrill Lynch, the rescue plan for AIG and the eventual announcement that the United States government would put up almost $800-billion to support the beleaguered financial sector and, in fact, the entire American economy.
The mess is a direct resul... |
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| To build or buy
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23 September 2008 |
Antonella Dési explores the various pros and cons of buying an existing home versus building a new one from scratch.
According to research undertaken by ABSA Home Loans, "In the second quarter of 2008 the cost of building a new house increased by a nominal 8,4% y/y, compared with a rise of 9,6% y/y in the first quarter. This contributed to the average... |
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| New look for Blue Door Challege |
23 September 2008 |
With the launch of their new-look Visa Electron debit card, Betterbond has decided to extend The Blue Door Challenge to the 31 October 2009. Over the last year, R1.9 million rand in prizes has already been paid out to agents, who can now continue to reap the benefits of using the card.
Deon Lessing, marketing director of Betterbond says: “Blue Door o... |
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| Students stimulate Stellenbosch
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22 September 2008 |
With more than 23,000 students in need of accommodation every year, the residential property market in Stellenbosch is still robust.
Shawn Pieterse, owner of the RealNet franchise in Stellenbosch, says it is this demand that largely accounts for the average 22% annual capital growth in property values over the past five years.
"And while growth... |
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| Banks still funding lower end |
22 September 2008 |
Banks may well have clamped down on mortgage lending to middle and upper income buyers but they are still keen to fund the affordable housing sector.
Banks have in recent weeks announced various funding projects for the lower end of the market, no doubt in a bid to speed up exposure to this sector as the deadline looms for banks to deliver on their R... |
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| Property initiative launched |
22 September 2008 |
A 'Lease with Option to Purchase' transaction or lease-option for short, is a method for facilitating the purchase of a home by a larger percentage of people, but whom, for one reason or another, aren't quite ready to make the purchase yet.
Lease-optioning or "rentowning" can also immediately be implemented as a market demand stimulation solution. It ... |
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| KZN mall extended, renovated |
22 September 2008 |
Renovations and extensions to a shopping centre in Richards Bay have recently been completed.
The R230m contract entailed a major facelift and expansion for the new Boardwalk @ Inkwazi Shopping Centre, which is now the 11th largest in the country. Its new look and extensions are aimed at meeting the growing demand in the area for upmarket shopping fac... |
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| Foreign buyers still drawn to SA |
19 September 2008 |
The recent decline in the USA, UK and many European growth rates (and in the value of their share markets) may have given the impression in SA that all foreigners are now pulling in their horns.
Lanice Steward, managing director of Anne Porter Knight Frank (APKF), says it is definitely not so that the chances of selling a home to an offshore buyer her... |
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| Industrial land an advantage to SA
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19 September 2008 |
Despite a near or full-blown recession in large parts of the world, things may actually be looking up for South Africa due to a wealth of unique opportunities, especially in industrial property.
Commercial and industrial expert Warren Jack shares his insight.
I recently read a thought provoking interview with Clem Sunter, chairman of the Anglo... |
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| July build plans passed down 13,3%
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19 September 2008 |
The value of South African recorded building plans passed at constant 2000 prices in July decreased by 13,3% year-on-year (y/y) from a revised decrease of 25,3% (24.5%) in June, Statistics South Africa (Stats SA) data on Wednesday showed.
Residential buildings saw a decrease of 16,4% y/y from -29,7% in June and -45,2% the month before, but non-residen... |
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| Advancing transformation: new developments on Property Charter front
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18 September 2008 |
SAPOA is pleased to announce that the Property Sector Charter Council has submitted its application for the Property Sector Transformation Charter to be gazetted under Section 9 of the Broad-Based Black Economic Empowerment Act (Act 53 of 2003) to the Department of Trade and Industry.
The Charter, which was signed in March 2006, was gazetted under Se... |
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| Zambian property market takes off |
18 September 2008 |
The Zambian property market is flourishing thanks to a booming economy, a thriving mining sector and new mortgage lending services.
That's the word from Chandalala Kondolo, principal of the Chas Everitt International franchise in that city.
Of late, Zambia has been witnessing unprecedented growth in both the private and public sectors of the e... |
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| Quantifying the Southern African Fractional Ownership Market
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18 September 2008 |
| The 3rd Annual Fractional Ownership Conference was held in Cape Town recently, attended by over 130 key delegates from the vacation ownership sectors. Dirk Wilson, co-founder of fractionalownership.co.za and organiser of the conference, said he was pleased to see the optimism shown by the major payers “who are firmly focused on the light at the end of the tu... |
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| Work well under way at Kenton Eco Estate
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17 September 2008 |
| Work is well under way at the 230ha Kenton Eco Estate situated near Kenton on Sea where just 100 of the total of 330 stands remain available for purchase. Seventy percent of the stands sold soon after launch, says Michael Wilmot, area principal for Pam Golding Properties, exclusive marketers of this development, which incorporates 2.5km of unspoilt beach.
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| Large corporate collapses not envisaged |
17 September 2008 |
| The liquidation of a large number of listed and significant non-listed companies which were experienced in the late 1990’s will not be encountered in the current down cycle, says Alliance Group Business Services Director Les Matuson. As South African businesses struggle under high debt burdens and slower economic growth many investors are questioning whether... |
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| Top-flight luxury Atlantic Seaboard apartments in city still flying
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17 September 2008 |
| Seeff Atlantic Seaboards luxury apartment and development sales specialists for Bantry Bay, Sea Point and Fresnaye, Adrian Mauerberger and Mel Truss, are having a run of sales – with over R25 million’s worth of property sold in the past 2 months. This underlines the ongoing strength of the top end of the market. Says Ian Slot, MD of Seeff Atlantic Seaboard, ... |
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| Only Karoo-style stone cottage in Mossel Bay on the market
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16 September 2008 |
| According to the Baumann Survey, Elgin Villa is said to have been built as a holiday home for a wealthy Oudtshoorn family somewhere between 1912 and 1915. It is classified as a 3A Heritage Site under the governing body of the Heritage, Western Cape. For the past 60 years it has been in the possession of the same family. Elgin Villa is a special Mossel Bay la... |
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| Futuregrowth injects R140m into lower income housing |
16 September 2008 |
Futuregrowth Asset Management has raised R140m from institutional investors to assist lower income housing projects get off the ground.
Futuregrowth, which believes that access to adequate housing is a right, is providing debt funding to property investment and development group Jika Properties which acquires high-yielding residential property across... |
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| Woodstock’s historical buildings adapt with the times |
16 September 2008 |
Remarkable heritage property, Roodebloem Manor, situated in Cape Town’s vibrant suburb of Woodstock, which has been revived as the gracious headquarters of leading accounting firm, Moore Stephens, reflects the rapid upgrading of this quaint area as the demand for commercial and residential property close to the city intensifies.
Increasingly, the his... |
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| Cape Quarter Extension merges old and new to offer village lifestyle shopping
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16 September 2008 |
The Cape Quarter lifestyle centre in Cape Town’s historic De Waterkant, is set to extend further into the trendy suburb with the scheduled completion of a second phase of the development – the Cape Quarter ‘Extension’ - in September 2009.
The current centre, with its quaint “Ou Kaapse” village square atmosphere, is a favourite with both locals and to... |
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| Europe's largest Architectural Practices opens BBBEE Compliant SA Company
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15 September 2008 |
| Nightingale Associates, one of the largest and European architectural firms specializing in the design of government, healthcare, science and education public infrastructure, today announces the establishment and opening of Nightingale Architects South Africa (Pty) Ltd, a fully Broad-based black economic empowered (BBBEE) compliant architectural practice in ... |
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| CALGRO 3M Signs R300 Debt Programme on Yield-X |
15 September 2008 |
Property giant Calgro M3 listed a R300m debt programme on Yield-X, the JSE’s interest rate exchange. The programme is not only cost effective but gives the company the flexibility to have multiple issuances with different debt instruments and different tenures when and where it suits them.
Initially, Calgro M3 will be raising R40m through the issuing... |
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| Boschendal founder's estates get the green light |
15 September 2008 |
The Boschendal development team has learned that approval has now been granted by the relevant authorities for the important first phase of the project.
This will comprise 18 Founder’s Estates, measuring 21 to 44 hectares and priced from R20 million - most are covered in vineyards and fruit trees.
The owners of each estate will be allowed to ... |
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| New Stellenbosch project launched
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11 September 2008 |
A development with 49 apartments has launched in Stellenbosch.
Dennesig Square is one of the last available apartment sites in central Stellenbosch offering one and two bedroom apartments with the option of additional loft spaces. All apartments are fully furnished and include kitchens fitted with fridge/freezer, microwave and hob/extractor. This cont... |
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| Pietermaritzburg stacked with old gems
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11 September 2008 |
Widely regarded as one of the best preserved Victorian cities in the world, Pietermaritzburg is a popular hunting ground for people wanting properties that date back more than a century.
Predominantly Edwardian and Victorian architecture, and often constructed from red brick, they range in price from the late R500ks to R4m and more, depending on thei... |
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| Copy, paste ideas from brain to PC
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11 September 2008 |
Interior decorators are often faced with the laborious job of taking notes,drawing sketches and diagrams on-site and eventually having to transfer it all to computer, save it and distribute it in digital format. Even while attending to an installation often additional notes or ideas have to be taken down to be recaptured, often only at a later stage.
... |
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| What to do about contingencies |
10 September 2008 |
The current uncertainty in the real estate market means that it's very common for homebuyers to make their offers to purchase contingent on the sale of their existing homes.
However, sellers who accept such offers need to be careful that these buyers are not overpricing the properties they have yet to sell, says Nationlink estate agency group chairman... |
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| High-rise living 'for the future'
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10 September 2008 |
High rise living in South Africa has a long way to go to attain the same popularity as it enjoys in places like London and New York, in spite of efforts by developers to promote the sales of apartments in places like Melrose Arch, Sandton and Durban's revitalized Point area.
"This type of lifestyle could become very important in the future if we look... |
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| House prices continue to slide
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10 September 2008 |
House prices slipped a further 0,8% month-on-month in August, and are now 5,5% lower than in August 2007, according to mortgage provider ooba's latest 'oobarometer' price index.
The average house price in August 2007 was R821,351 compared with R776,048 the same time this year.
"While house prices continue their downward trend, there have been ... |
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| Global property stakes: SA slips
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08 September 2008 |
South Africa no longer counts among the world's top 10 performing housing markets, a new report by UK-based property group Knight Frank shows.
According to Knight Frank's latest global house price index, which was released earlier on Tuesday, SA slumped to 19th position in the second quarter of 2008, down from 7th position a year earlier.
The... |
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| Belizean Property Market next Boom Hotspot for SA and Foreign Investors |
08 September 2008 |
In the face of potential political and economical instability as well as a struggling local property market, an increasing number of affluent SA property buyers are moving to off-shore property investment.
One overseas market that has attracted major interest from both South African property investors and property developers is Belize.
Emergi... |
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| National Property Sales down 38 % - RE/MAX Property Barometer shows impact of Interest Rate hikes and tighter lending
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08 September 2008 |
RE/MAX of Southern Africa, South Africa’s largest property real-estate group, in conjunction with BetterBond, announces the release of statistics around South African residential property buying transactions and property market performance compared to the same period in 2007.
2008 SALES TRANSACTIONS VS 2007
There has been a 38 per cent year o... |
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| Buyer evicted on 'Voetstoots' law |
04 September 2008 |
In a classic example of why buyers should invest in a professional home inspection before making an offer to purchase, the Supreme Court yesterday ordered the eviction of Mr Patrick Ferraris from his R2,2m home in Sunridge Park, Port Elizabeth as a result of a ruling based on the 'voetstoots' clause.
"While the 'voetstoots' clause is controversial an... |
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| Save by managing occupancy costs
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04 September 2008 |
As companies face increasing challenges stemming from global and local economic pressures, maximising bottom-line efficiencies becomes as important as achieving top-line profits.
Rental, property finance, facilities management and utilities expenditure are areas which often include significant prospects for financial savings. However, few companies ha... |
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| Build firm's book nearly doubles |
04 September 2008 |
South African-based construction group Wilsom Bayly Holmes-Ovcon (WBO, WBHO) will be executing work worth R18,3bn for the year to June 2009 – up from R10,6bn the same time a year ago.
"Our outlook for the South African construction industry remains positive, with prospects for new work in the energy, infrastructural and mining sectors," the group said... |
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| Buyers club together to buy homes |
04 September 2008 |
Due to inflation and the high costs of property an increasing number of buyers are pooling resources with friends, family or likeminded investors in order get a foothold in the market.
ERA Cape Town estate agent Gavin Zinn said there had been and "enormous" increase in the number of people buying houses as a joint venture over the last two years.
<... |
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| Annual Fractional Ownership Conference gives pointers to the future face of fractional ownership |
03 September 2008 |
| The 3rd Annual Fractional Ownership Conference has just been held in Cape Town, attended by over 130 key delegates from the vacation ownership sectors. Dirk Wilson, co-founder of fractionalownership.co.za and organiser of the conference, said he was pleased to see the optimism shown by the major payers “who are firmly focused on the light at the end of the t... |
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| Nedbank secures sponsorship of Green Building Council Convention |
03 September 2008 |
In a further show of commitment to its positioning as ‘The Green Bank’, Nedbank Corporate Property Finance has confirmed that it will be the principle sponsor of the inaugural Green Building Council of South Africa (GBCSA) Convention and Exhibition, to be held in Cape Town from 2 – 4 November 2008.
The aim of the convention is to inspire and inform t... |
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| City Bowl divided into 3 segments |
03 September 2008 |
Three distinct markets had emerged in the Atlantic Seaboard and City Bowl.
The first, says Ian Slot, managing director of Seeff Properties in the area, is at the very top end of the market, such as in the V&A Marina.
"Also, at the top end of the market in Bantry Bay and Clifton prices remain strong and sales tend to take place at or about ful... |
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| Property firm's distribution up |
02 September 2008 |
Property specialist Pangbourne (PAP) on Friday reported that its distribution for the year to June 30 amounted to 120,93 cents per unit, an increase of 6,08% over the 114 cents per unit distribution for the year ended June 30 2007.
It reported that its diluted earnings per linked unit for the year had improved to 422,95 cents from 257,99 cents a year ... |
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| Conference: future of fractions
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02 September 2008 |
The two major aspects set to shape and boost the fractional ownership market in South Africa over the next few years are fractional ownership finance, and the emergence of top-class global exchange platforms.
The 3rd Annual Fractional Ownership Conference has just been held in Cape Town, attended by over 130 key delegates from the vacation ownership s... |
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| Transition to REIT structure aims to attract international investors |
02 September 2008 |
Addressing the issues and challenges facing South Africa’s listed property sector’s transition to the best-of-breed international Real Estate Investment Trust (REIT) structure in South Africa, Brian Azizollahoff, CEO of Redefine Income Fund, will address the upcoming Real Estate Investment World Africa 2008 conference.
Azizollahoff, who has played a ... |
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| Jawitz properties opens in Botswana |
02 September 2008 |
Jawitz Properties has announced that it has opened an office in Gaborone Botswana.
Franchise director, Damon Jawitz, says that the property market in Botswana has been pin-pointed as being an important growth area. “Our intention is to have the brand well established in the area by the time the market moves into the next growth stage. We are already ... |
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| Lakeside Mall to receive R20 million extension to the create 'The Deck'
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01 September 2008 |
Lakeside Mall continues to create excitement in the retail sector with its strong growth and on-going expansion. ‘The Deck’ is the latest addition to the existing 61,000m2 shopping centre. This 4,500m2 expansion will adjoin the mall on the Upper Level parking area near Entrance 4 to enhance the already extensive shopping variety at Lakeside Mall.
Own... |
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| Centurion project nears completion |
01 September 2008 |
A massive development near the Gautrain's Centurion station is quickly nearing completion.
Property experts are already describing Centurion Gate as a new beacon. It is next to the N1 highway to the north.
Construction near the highway's John Vorster off-ramp started in 2005.
Although it is an international investment, South Africans pl... |
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| Wessel Witthuhn appointed President - Africa & Indian Ocean Region for IFA Hotels & Resorts
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01 September 2008 |
Wessel Witthuhn has been appointed as President – Africa & Indian Ocean Region for IFA Hotels & Resorts with immediate effect.
“As the majority of IFAHR’s projects in Africa and the Indian Ocean region are currently under construction and weighted towards design and development, it is imperative that the individual appointed to lead the region throug... |
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| New office park to be built in KZN |
28 August 2008 |
Construction on a multi-million rand office park in Durban is due to start in November.
Piedmont Park is being developed on a phased basis and the first phase will be a five-storey building offering 50 units of 112sq m each. These units can be amalgamated to meet any size requirement for a potential purchaser.
The developers hope to give occup... |
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| Make concrete floors shine
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28 August 2008 |
Home décor and DIY expert Janice Anderssen explores the issue of some remarkable options for colouring and texturing concrete floors that will amaze you.
Concrete can simulate pricier materials
Whether you're installing a new driveway, walkway, patio, or floor for your sunroom or any other indoor room, decoratively finished concrete floors are sur... |
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| New Hotel attacts foreign tourists to Kimberley Heritage Site
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28 August 2008 |
Unencumbered views of South Africa’s great tourist attraction, The Big Hole Heritage Site, are enjoyed from the new Kimberley Protea Hotel, which is drawing additional visitors to the Northern Cape.
For many years tourists have visited Kimberley to see the sites of early mining activity in South Africa. Due to lack of world-class accommodation, they ... |
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| Know lease premiums' tax effects |
27 August 2008 |
Parties often enter into leases of vacant commercial or industrial land, subject to payment of a "lease premium" by the lessee to the lessor.
Tax Partner at Cameron & Prentice Chartered Accountants, David Warneke, explains the tax effects of lease premiums.
The first point to note is what exactly is envisaged by the term "lease premium". In a ... |
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| Sticking to wallpaper |
27 August 2008 |
When many of you think of wallpaper, you often think of the garish designs and colours used in the '60s and '70s – designs that put wallpaper in the dog box guarded by the fashion police right through the '80s and '90s. However, wallpaper is making a big comeback and in current décor circles, it is a definite must-have for any well dressed room.
Wall... |
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| CT stadium raises property values
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27 August 2008 |
All the fears that Green Point residents expressed regarding the way in which the new stadium would lower property values in its area, proved to be unjustified.
So says Lanice Steward, managing director of Anne Porter Knight Frank (APKF), and adds that there are now clear indications that the advent of this massive structure is raising property value... |
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| Single women: Buy with this in mind
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26 August 2008 |
More and more single women are becoming homeowners but in many cases the properties they can afford are located in high-crime areas, so they need to pay special attention to safety and security measures.
Berry Everitt, managing director of the Chas Everitt International property group, says the latest figures from the National Association of Realtors ... |
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| The Palms extension to form part of Lagos' first mixed-use development |
26 August 2008 |
| Lagos Palms, the first world-class shopping and entertainment centre in Nigeria opened in 2006. The subsequent success of this pioneering retail venture which provided Nigerians with their first 21st century shopping and entertainment experience, has prompted plans for a further $220 million extension that will form part of a proposed mixed-use development i... |
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| Bank wants to enlarge RDP houses |
26 August 2008 |
A local bank will be pursuing the lower income property market on a larger scale through the financing of RDP houses in townships.
In this new campaign homeowners will be able to apply for bigger home loans ranging from R200k to R400k. This forms part of plans to upgrade previously subsidised units by approximately four rooms.
Luthando Vutula,... |
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| Cape Town third in World Edition of Monopoly |
26 August 2008 |
After months of anticipation, the votes have been tallied to determine which Cities came out tops in the first ever World Edition of Monopoly Here and Now. Cape Town came in third after Montreal and Riga and above cities like New York, London and Sydney.
For the first time ever, the world could vote for the City they’d most like to see showcased on t... |
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| Rosebank set to get first Edgars |
25 August 2008 |
Developments in the business precinct of Rosebank, Johannesburg are set for a further boost, with work set to start soon on a R170m project.
The project will see an Edgars store opening in Rosebank for the first time.
A R623m mixed use project comprising retail space, a 160-room hotel, a five-level basement parking garage and loft offices is a... |
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| Property firm records good growth |
25 August 2008 |
A JSE Limited listed property loan stock company announced distribution growth of 18,3% for its B-linked units for its financial year ended 30 June 2008.
Hospitality Property Fund invests exclusively in hotel and leisure properties. Its units in issue comprise A- and B-linked units, with A-linked units having a preferential claim to earnings with capp... |
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| FNB home loans re-assessments
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25 August 2008 |
FNB today held frank and fruitful discussions with the Banking Ombudsman in which they agreed that the bank's criteria, as now spelt out, for re-assessing home loans approved in principle more than a year ago are "fair and equitable".
FNB met with the Ombudsman today, and after the meeting, the Ombudsman for Banking Services, Advocate Clive Pillay, s... |
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| RE/MAX agents contribute R400K to Reach For A Dream |
22 August 2008 |
RE/MAX of Southern Africa announces the contribution of R400 000 to Reach for A Dream, the charity of record supported for the real-estate group and backed by 200 RE/MAX offices and 2100 agents nationwide, during the RE/MAX World Long Drive Celebrity Challenge held on 15 August 2008 at the Vodacom Golf Village in Tyger Valley.
The event formed part o... |
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| Firgrove Business Park – conveniently situated industrial development
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22 August 2008 |
| Somerset West has become one of Cape Town's fastest growing nodes for business estates. Firgrove Business Park just outside Somerset West is extremely well situated, providing a high level of visibility and easy access, with linkages to the N2, R102 and Winery Road. This industrial sectional title secure complex with security access control is just 20 minute... |
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| Well-heeled buying into Mozambique |
22 August 2008 |
Ultimate tropical beach getaway marketed by PGP
While Mozambique has for many years enjoyed popularity among South Africans as the perfect tropical holiday retreat for those wishing to escape from hectic modern life, in the past such visits tended to be more from those 'roughing it', backpacking, biking or staying in basic, simple accommodation. Toda... |
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| Rising sea could cause huge losses |
21 August 2008 |
Private property losses caused by rising sea levels induced by climate change are estimated to amount to between R3.2-billion to R44.5 billion around the 307 kilometres of Cape Town's coastline over the next 25 years.
This is according to a report commissioned by the City of Cape Town. The report, released in early August, is the latest in a four-pha... |
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| Soweto malls have changed spending |
21 August 2008 |
The four large shopping centres that opened their doors in Soweto since 2005 have radically changed this township's shopping landscape.
Prof Deon Tustin, head of the Bureau for Market Research (BMR) at Unisa, says that since the opening of Protea Gardens, Jabulani and Maponya a paradigm shift started to occur away from shopping outside Soweto to shopp... |
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| New mixed-use project coming to PE
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21 August 2008 |
A new R2,5bn mixed-use development is planned at Parsonsvlei, approximately 12km west of the Port Elizabeth City Centre.
The rezoning has already been approved as a site of 128 hectares, equivalent in size to a large suburb. The plans for the site will see the development of some 2,200 homes in addition to businesses, retail, light industrial and comm... |
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| SAR bank interest rate decision marks the start of better times
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21 August 2008 |
Thursday’s decision by the SA Reserve Bank to hold interest rates at their current levels will be seen in the property market as the turning point at which trading conditions could begin to improve, says Rob Lawrence, a business development manager at Rawson Properties.
“In my view,” said Lawrence, “the market had already begun to bottom out before t... |
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| Property market's mood is lifting
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20 August 2008 |
The past week's news that the interest rates are to remain unchanged and expectations that there won't be further increases, is probably just what the residential property market needed to stabilise.
In fact, property agents say there's an increasing amount of signs that the turning point in the market isn't far off, although the real upswing is only ... |
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| Homeowners should still be careful |
20 August 2008 |
Last week's prime interest rate freeze is good news for cash-strapped South Africans, but consumers and homeowners should still lock up their wallets and not embark on a spending spree in celebration.
"The interest rate freeze is good news, but it's just a respite – the economic uncertainty is not over yet. Hard pressed consumers and homeowners should... |
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| Repo rate decision welcome says Andrew Golding
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20 August 2008 |
The Monetary Policy Committee's decision today (Thursday 14 August 2008) to keep the repo rate steady is indeed welcome news, says Dr Andrew Golding, CE of the Pam Golding Property group.
"It is good news for consumers who, already under pressure, have just experienced a further drain on their disposable income with the increased electricity tariffs ... |
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| Advice to struggling bondholders: Do a deal now with your banks
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20 August 2008 |
If you are struggling to pay your bond and have reluctantly come to accept that you will have to sell your property to survive, now is very definitely not a good time to being holding out for a price that the market is unlikely to accept, warns Gary Wentzel, Head of Business Development at Rawson Properties.
“Although it can be painful,” says Wentzel... |
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| A new 80-storey building is planned for Sandton City. |
19 August 2008 |
| I love hair-brained schemes because they sometimes become a reality. I mean who were those okes in Dubai who decided to build a concrete dhow in the sea and call it an hotel. Then they got it graded as a seven-star establishment and it became the best hotel in the world? Most ordinary people probably thought that those blokes were nuts. And just look success... |
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| Construction poses security risks |
19 August 2008 |
While there have been reports of criminal syndicates renting units in complexes to rob other residents, ongoing building activities in complexes pose a different set of security risks.
"It is not uncommon for phase one of a complex to be completed and occupied before building starts on phase two," says Gari Dombo, managing director of Alexander Forbe... |
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| Be wise when buying new home |
19 August 2008 |
A brand new home means you don't inherit stained carpets and patchy paint – but there are pitfalls.
So says Berry Everitt, managing director of the Chas Everitt International property group, who has the following tips to help you negotiate the purchase of a new home:
- If you have to sell an existing home in order to buy a new one, appoint your... |
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| PE house project comes to fruition
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19 August 2008 |
Almost 1,000 families living in informal settlements in the Nelson Mandela Bay Municipality will receive keys to their own homes on Friday.
Minister of Housing Lindiwe Sisulu will visit the area in the Eastern Cape to hand over the houses to the beneficiaries of the Zanemvula Housing Project.
The project is the largest human settlement project... |
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| Commercial property boom is intact
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18 August 2008 |
The boom in the commercial property market is unharmed despite a downtrend in the South African economy, delegates at the annual Rode conference on property heard on Thursday.
"Based on fundamentals, the non-residential property boom is intact," Erwin Rode, CEO of property research from Rode & Associates, told delegates.
His view was supporte... |
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| Amdec develops new suburb for Port Elizabeth
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18 August 2008 |
Amdec Property Development, one of South Africa’s leading property development, investment and project management specialist firms, has announced a new R2.5 billion development at Parsonsvlei, approximately 12km west of the Port Elizabeth City Centre.
Amdec has over 20 years of industry experience and a current development portfolio in excess of R4,5... |
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| Foreigners cash in on SA property
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18 August 2008 |
Even though times are tough across the globe, growing numbers of buyers from the Middle East, Asia and even Russia are shopping for property in South Africa, according to Ian Slot, managing director Seeff Atlantic Seaboard, CBD, V & A Marina & City Bowl.
“There is a significant range of foreign buyers purchasing in South Africa. According to our stat... |
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| Sound property investing in an unstable market |
15 August 2008 |
| The current economic environment has had a great impact on the housing market, with high interest rates, spurred on by rising inflation, and increasing building costs reducing affordability and demand. Funding for new homes has also become stricter, with banks becoming especially tough on funding for secondary homes on golfing and holiday estates. This has p... |
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| SA property prices to drop 10-15%
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15 August 2008 |
South African house prices are expected to drop by between 10% and 15% in the next 12 months as rising interest rates and tougher credit-granting laws force buyers to tighten their purse strings, a property expert said on Thursday.
Speaking at the annual Rode conference on property in South Africa, Dries du Toit, an independent investment consultant ... |
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| Property Syndicates – what’s the right structure?
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15 August 2008 |
| The current environment of ongoing interest rate hikes and spiraling inflation can make it difficult to raise sufficient funds to purchase property or to develop or improve it. Whether you’re an individual investor, a company or a trust, banding together to form a property syndicate can be a solution. This strategy spreads the attendant risks, but also invit... |
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| Sapoa urges more careful consideration of the Competition Amendment Bill 2008
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15 August 2008 |
| SAPOA (South African Property Owners Association) has urged the National Department of Trade & Industry (DTI) to extend the consultation process for the newly-gazetted Competition Amendment Bill, 2008 to allow for more detailed analysis of provisions that it says could have far-reaching negative consequences for SA’s commercial and industrial property market... |
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| Kempton City gets a new R325 million lease on life |
14 August 2008 |
Kempton Park landmark, Kempton City, is to receive a multi-million Rand redevelopment, and get a new lease on life, thanks to some of South Africa’s foremost property experts who have identified this location for a positive contribution to the rejuvenation of the city centre.
Kempton City is one of the most iconic and historically significant locatio... |
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| Tenants still call the shots
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14 August 2008 |
Expectations that the residential rental market would stage a strong rebound this year now appear somewhat premature.
Data emerging from more than one industry player shows the market has been flooded with rental stock over recent months, forcing landlords to lower their asking rentals. Statistics from the online rental portal Rentproperty.co.za show... |
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| Spectacular Clifton beach bungalow on 3½ Beach on offer at R32.5m
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14 August 2008 |
Clifton’s beaches are world renowned for their beauty and jetsetters. There are just over 300 Clifton beach bungalows, and those who want to be near the water with direct access to the beach as well as to enjoy the lifestyle of having a home and trees and a garden will pay for this pleasure.
Two weeks ago Seeff Atlantic Seaboard area specialist for t... |
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| Land reform gets government boost |
13 August 2008 |
Two and a half million hectares of farmland is targeted by government for delivery to emerging farmers by the end of March next year, and another two and a half million in the year following.
The target of 30% of all farmland to be in black hands by 2014 is still a long way off, but the government's July lekgotla decided that the reform programme shou... |
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| Cash buyers boost Hibiscus Coast
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13 August 2008 |
Upcountry buyers with cash in their pockets are among the main drivers of the property market on KwaZulu-Natal's Hibiscus Coast.
Long a popular tourist and retirement trail which meanders southwards from Hibberdene through Shelly Beach, Uvongo and Margate to Port Edward, it has, like most parts of South Africa, felt the ravages of an upwardly-bound in... |
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| Property auctions 'not the answer'
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13 August 2008 |
Property auctions in South Africa are increasing in popularity as distressed sellers try to offload homes they can no longer afford. However, buying or selling at auction may not be the best option for either party.
"There is most certainly a case to be made for the sale of property by auction in some instances," says Mike Bester, CEO of Realty 1 Inte... |
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| Rising building costs cramp profits |
12 August 2008 |
Drastic increases in building materials have affected developers' profits, with some planned developments having to be scrapped and the future of others hanging in the balance.
And those planning to build their own homes have either had to increase their budgets, scale down their plans or scrap their dream home altogether.
Seeff Properties man... |
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| Cement sales down 0,7% y/y
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12 August 2008 |
Cement sales in Southern Africa fell 0,7% year-on-year (y/y) in July to 1,368m tons from a 1,9% y/y fall in June, data from the Cement and Concrete Institute showed on Friday.
The institute noted that July 2008 sales had one more sales day than July 2007 and if the increase in the number of sales days is taken into account, sales per day were 5% lowe... |
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| 2008's top bathroom trends
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12 August 2008 |
| Size counts: The bathroom is increasingly becoming a place of refuge – an intimate area in which you can really relax and unwind, and with this trend, it is essential that the room accommodates everything a homeowner would need in order to facilitate optimum relaxation. Gone are the days of poky little bathrooms at the back of the home – today's homeowners a... |
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| What a property transfer costs |
11 August 2008 |
There are various costs associated with a transfer of property, some of which are payable by the purchaser and others for which the seller is liable.
An agreement of sale will ordinarily provide that the purchaser is liable to pay the conveyancing costs related to the transfer of a property. These costs are payable prior to registration of transfer an... |
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| Home loans for steel frame buildings
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11 August 2008 |
The construction industry is continually evolving. Technology is the driving force and traditional building methods are no longer the only answer. Lightweight Steel Frame Building (LSFB) is a new building concept that has been in the spotlight recently and is seen as the next step in the evolution of construction methodologies.
Lightweight steel-frame... |
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| New modular homes for R350k
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11 August 2008 |
In a joint effort with the Institute of Architects, a local firm has introduced a modular 'Home in a Box' made using the light weight steel frame building concept. This is the latest product in the light-weight steel frame building industry to hit the market.
"Each module is 84 sq m in size and modules can be combined to make bigger units," says Marl... |
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| Project sales show WC market health
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07 August 2008 |
A sign that the West Coast property market is doing well is the fact that 95% of the available erven have now been sold at a residential project.
Homes at St Helena Views will be coming on stream next year.
"We were fortunate to launch when interest rates were low and the property market was just about to take off," said Anton Strydom, sales ... |
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| Restoration boosts Woodstock values |
07 August 2008 |
Cape Town's Woodstock is enjoying a new lease of life thanks to a surge of refurbishment activity in the area.
Kotze Elllis of the ERA office in Woodstock says new investors are moving in to capitalise on the appeal of Woodstock.
"There's hardly a street in Woodstock in which an unrefurbished house is still to be found but importantly, all ref... |
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| Sandton City to get R1.8bn revamp
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07 August 2008 |
Liberty Properties, part of Liberty Group, announced a R1.77bn revamp of one of Johannesburg's main shopping malls on Tuesday and said it was looking for a builder.
The company, which is extending the Sandton City complex to provide more letting space for retailers, said the project would start at the end of 2008 and is scheduled for completion early... |
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| Housing stock shortage the problem
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06 August 2008 |
Standard Bank said a shortage of housing stock, and not funding, was the major obstacle in meeting its Financial Sector Charter commitment of originating loans for the charter's defined market, its senior official said on Friday.
"Housing shortage and not funding (is) the main problem," said Kevin Duncan, managing director of Standard Bank's Corporat... |
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| What home ownership really costs |
06 August 2008 |
The gap between asking prices and selling prices is continuing to widen.
However, while this creates more value-for-money opportunities in the residential property market, it does not necessarily mean you can afford to buy your dream home simply because the cost of home ownership might be a lot more than you think.
So just where does the mone... |
