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Property News - 04 September 2014

FROM THE EDITOR

It has been reported that, despite immediate concerns in some African countries about Ebola, terrorism or political stability, forecasts for 20 percent net annual returns from investing in shopping malls, office blocks or industrial complexes in countries from Zambia to Kenya is drawing in new investors. Read more of this story in an article titled Real estate funds come to Africa.

Good news for South Africa: according to the latest reports, although mining and manufacturing reflected their second negative quarter, joined by the consumer economy – denoted by Stats SA as “wholesale, retail and motor trade; catering and accommodation, South Africa’s economy avoided falling into a technical recession when it expanded by an annualised 0.6% in the past three months. Positive growth in the second quarter came from construction (+5%q/q), transport, storage and communication (+4% q/q), general government (+2.9%q/q) and finance, real estate and business services (+1.5%q/q). For more of this story, read an article titled Recession avoided: so what?

Lanice Steward, managing director of Knight Frank Residential SA advises that, with foreign buyer interest increasing in property ownership in South Africa due to the rand falling and the exchange rate being so much in their favour, there are few things the buyers, possibly the sellers, and their agents should remember when it comes to signing a purchase agreement. Find out what those things are in an article titled Foreign buyers dos and donts.

We then take a closer look at the affluent suburb of Constantia, in Cape Town. Although predominantly farmland and vineyards, Constantia is one of the oldest areas in Cape Town. See the Focus On section of this Newsletter to learn oire about this interesting town.

Enjoy!
The editor

SAPTG Reports

Property of the Week

Pristine home in Hartbeespoort

Constantia, Cape Town, Gauteng
The Quintessential Family Home

In the News this week

Real estate funds come to Africa

investors are buying into a boom in sub-Saharan African real estate

High stakes for high return, if you can stick it out for the long term - investors are buying into a boom in sub-Saharan African real estate...
boom in sub-Saharan African real estate


Recession avoided: so what?

Economy in South africa avoided recession

South Africa’s economy avoided falling into a technical recession by expanding by an annualised 0.6% in the three months through June...
South Africa’s economy


Foreign buyers dos and donts

Foreigners buying Real estate in South Africa
With foreign buyer interest increasing in property ownership in South Africa due to the rand falling and the exchange rate being so much in their favour, there are few things the buyers, possibly the sellers, and their agents should remember...
Tips when dealing when foreign buyers

Influences and pressures considered by young home buyers

Young homebuyers

Area knowledge – full familiarity with how the property market in his area operates – is absolutely essential for an estate agent to be really successful...
Factors affecting young homeowners buying decisions


When is a deposit refundable and when is it not?

Deposit refund

Under South African common law the general rule that applies when an agreement fails is that the parties must restore the status to the position they were in before the agreement was signed, unless both parties have agreed that there is an exception to this rule...
The Ebola outbreak in West Africa


Trustee numbers and documentation

buying property in a trust

There are still people who prefer to buy property in a trust, where the property has become part of the overall financial planning of the family or where there is a large estate. The procedures are that the trustees must be apply to the Master of the High Court...
buying property in a trust


When appointing a managing agent - perform due diligence

Real estate managing agent
A recent investigation by the Estate Agency Affairs Board [EAAB] into the misappropriation of body corporate funds has highlighted, once more, the need for trustees to ensure that the managing agent they appoint to administer...
appointing a managing agent

Do your homework when buying into sectional title

Research when buying into sectional title
In today’s world convenience and peace of mind are key priorities for many home buyers. This makes sectional title living a very desirable option, given that outside maintenance, insurance and sometimes water cost, forms part of the levy...
buying into sectional title

What property indices and car sales data don't tell you

Automobile market versus Real estate market

Is the residential property market in fairly good shape while the automotive market is struggling? At first glance, the most widely cited data tracking the performance of the property market and new vehicle sales seem to suggest that...
Automobile market versus Real estate market


Sustainable accommodation for SA mineworkers

Accommodation for South African Miners
Operational campsite design specialist Akhani Group signed an agreement with alternative housing solutions provider Lightweight Energy Panels Africa (Lepa) in June to market and distribute Lepa’s lightweight construction panels...
accommodation for SA mineworkers

Getting your home market-ready for Spring

Selling a house in Spring
It is not only the temperature that goes up in Spring, but also the number of buyers venturing out and looking at show houses...
Preparing to sell a house in Spring



Oliver's House fundraising campaign


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Focus On


Constantia , Western Cape , South Africa

Property for sale in Constantia
Predominantly farmland and vineyards, the affluent suburb of Constantia is one of the oldest areas in Cape Town. Home to the Groot Constantia estate which was established in 1684 by Simon van der Stel...
Property for sale in Constantia
View properties in Constantia

In The Area

The areas we are going to take a closer look at this week are;

  • Broadacres
  • Queenstown

New phase of Evergreen Broadacres launched

Gauteng-based village Evergreen Broadacres
Leading national retirement lifestyle brand, Evergreen Lifestyles, has recently launched the third phase of sought-after Gauteng-based village Evergreen Broadacres, as the market continues to respond to opportunities for affordably priced luxury retirement housing...
Gauteng-based village Evergreen Broadacres

Queenstown pair to be sold

Real estate Market in Queenstown, South Africa
Aucor Property will hold its next multiple commercial property auction at the Maslow Hotel on the 17th of September 2014 at 12h00. A total of 18 lots of commercial, industrial and retail stock will be for sale on the day with a combined market value of R100 million...
Queenstown Real estate



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"This is not advice. Clients should not act solely on the basis of the material contained in this newsletter. Items herein are general comments only and do not convey advice per se. Also changes in legislation may occur quickly. We therefore recommend that formal advice be sought before acting in any of these areas."

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