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Property News - 13 February 2015

FROM THE EDITOR

After an hour-long showdown, President Jacob Zuma finally delivered his State of the Nation Address last night.

As many predicted, he didn’t discuss delicate issues like e-tolls, Nkandla, the South African government student loan and bursary scheme and the South African Post Office.

However the following 2 topics that he did discuss, will have a serious impact on the real estate industry:

  • In terms of our new proposed laws, a ceiling of land ownership will be set at a maximum of 12,000 hectares.
  • Foreign nationals will not be allowed to own land in South Africa but will be eligible for long term lease. In this regard, the Regulation of Land Holdings Bill will be submitted to Parliament this year.

President Zuma also said that stabilising Eskom’s finances is a priority and the power utility will be given R23 billion to do so. He acknowledged South Africa was experiencing serious energy constraints and that they are doing everything they can to resolve the energy challenge. He urged all individuals, households, industries and government departments to save electricity in order to reduce the need for load shedding.

President Zuma stated that water is a critical resource for economic growth and a better life. He said that several projects aimed at providing water for industrial and household use are in the implementation or planning phases around the country.

Find out more about foreign land ownership in No land ownership by foreigners, says Zuma and share your thoughts with us by emailing news@tivvit.com

Enjoy!
The editor

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In the News this week

No land ownership by foreigners, says Zuma

No land ownership by foreigners, says Zuma
Delivering his 2015 State of the Nation Address (SONA) to a joint sitting of Parliament on Thursday, President Jacob Zuma said land ownership by foreigners will be prohibited...
No land ownership by foreigners, says Zuma

South Africa listed property underpins performance of top unit trusts 2014

South Africa listed property underpins performance of top unit trusts 2014
South Africa's listed property sector was a key driver of performance from South Africa's top unit trusts, and Raging Bull Award recipients, in 2014...
South Africa listed property underpins performance of top unit trusts 2014

Buying a home will get easier in 2015

Buying a home will get easier in 2015
Strong growth in the residential building sector over the next 12 months means that that home affordability is also all set to increase...
Buying a home will get easier in 2015

Accelerated urbanisation in Africa focuses attention on property demand and development

Accelerated urbanisation in Africa focuses attention on property demand and development
As growing urbanisation in Africa aids economic growth - as larger concentrations of people in cities create large customer bases, promote more efficient labour markets and reduce transport costs, increasing opportunities arise in regard to residential property development and ownership, says Dr Andrew Golding, chief executive of the Pam Golding Property group...
Accelerated urbanisation in Africa focuses attention on property demand and development

Overall reduction in South Africa's household debt is likely to benefit the mortgage bond market

Overall reduction in South Africa's household debt is likely to benefit the mortgage bond market
While it is good news that outstanding credit balances in South African household debt have recently been growing at a far slower rate (3,4% according to 30th January Absa Home Loans Review), it is disappointing that the value of outstanding private sector mortgages has so far risen by only 4,3% year-on-year – well below the current inflation rate...
Overall reduction in South Africa's household debt is likely to benefit the mortgage bond market

Location... Location... Location

Location... Location... Location
I am sure that you have heard the phrase before. But why this phrase in the property industry?
Location... Location... Location

Home staging can create buyer appeal

Home staging can create buyer appeal
While nothing new to the real estate market, the trend of home staging has seen an increase in popularity among sellers who want to create the optimum buyer appeal when placing their home on the market, says Adrian Goslett, CEO of RE/MAX of Southern Africa...
Home staging can create buyer appeal

Estate agents' role in property marketing - and buying - remains crucial

Estate agents' role in property marketing - and buying - remains crucial
There have been suggestions recently that the growing power of website and online communication in the property sector will, in the not-too-distant future, make estate agents unnecessary...
Estate agents' role in property marketing - and buying - remains crucial

Maintenance in ST schemes is not an option

Maintenance in ST schemes is not an option
Owners and trustees in sectional title schemes should have a working knowledge of sections 37 and 38 of the Sectional Titles Act because these sections define the main financial and administrative obligations of a body corporate...
Maintenance in ST schemes is not an option

Legalities of collecting special levies

Legalities of collecting special levies
In ideal situations the normal levies collected in a sectional title scheme will cover all the operating expenses as well as any larger maintenance or repair projects that are due, but cases do arise when the body corporate will need to raise a special levy and Prescribed Management Rule 31(4B) allows for this...
Legalities of collecting special levies
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Bryanston, Sandton, Gauteng, South Africa

Bryanston, Sandton, Gauteng, South Africa
Johannesburg’s largest suburb, Bryanston, is by far the best indicator of trends and developments in the overall residential property market north of the city, says luxury home specialist Ronald Ennik...
Focus on Bryanston, Sandton, Gauteng, South Africa
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In The Area

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

  • Umhlanga
  • Amanzimtoti

Umhlanga market hot as Durban buyers look north

Umhlanga market hot as Durban buyers look north
Property sales volumes in the vibrant holiday village of Umhlanga have been unusually high for the past month – with January usually being one of the slowest months of the year in terms of buyer interest...
Umhlanga market hot as Durban buyers look north

Red-hot start to the year in 'Toti

Red-hot start to the year in 'Toti

The property market in Amanzimtoti has got off to a flying start this year and agents are being run off their feet trying to find stock to meet the demand in this thriving town on the KwaZulu-Natal South Coast...
Red-hot start to the year in 'Toti


Property News Continue

Trustees should read through ST Act and PMR

Trustees should read through ST Act and PMR
At the last free trustee workshop for trustees of sectional title schemes, held by property management company IHFM, interesting aspects of sectional title management came to light, says Michael Bauer, general manager of IHFM, one of them being that many trustees are not familiar enough with the provisions of the Sectional Titles Act, Amendment of the ST Act or the Prescribed Management Rules....
Trustees should read through ST Act and PMR

Sectional Title Property - Who Pays for What?

Sectional Title Property - Who Pays for What?
Sectional title property has become increasingly popular in South Africa in recent times and it’s easy to understand why; sectional title properties tend to have good security, they’re cheaper to buy and maintenance is shared by owners and the scheme’s body corporate...
Sectional Title Property - Who Pays for What?
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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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