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Property News - 13 August 2015

FROM THE EDITOR

According to the The Banking Association of South Africa (BASA) one major concern that the new Expropriation Bill brings is that if the ‘just and equitable’ compensation it promises doesn’t reflect real market values, mortgage lenders might think twice before making loan offers and that local and foreign investors might be deterred. Read more in How the South African Expropriation Bill will affect property demand

Tourism has always been the biggest propellant of foreign direct investment in South African residential property according to Ronald Ennik. In State review of visa rules good for homes market, he says that it is vital that the ministerial review and Cabinet task team’s findings on this controversial visa/birth certificate issue results in the reversal of a Home Affairs immigration policy that is seemingly globally unprecedented.

On the home loans front BetterLife Home Loans says that he number of home loans being approved by banks is currently growing at a faster rate than at the beginning of the year – despite the fact that the winter months are usually the slow season for home sales and bond applications.

According to the ABSA Homeowner Insights Affordability Report the biggest challenge with the affordability assessments lies not with the credit provider but with “the customer’s interpretation and understanding of their own personal financial situation”. Leapfrog Property Group shares some good advice with us on how to get that loan.

Enjoy!
The editor


Property of the Week

House for sale in Brackenridge, Plettenberg Bay
Contemporary Home in Brackenridge Estate in Plettenberg Bay offering stunning panoramic sea and golf course views

In the News this week


How the South African Expropriation Bill will affect property demand

How the South African Expropriation Bill will affect property demand
You may have seen a number of media reports about the new Expropriation Bill, which is currently going through the South African parliament, and concerns that it could damage property rights and put off foreign investors...
How the South African Expropriation Bill will affect property demand

State review of visa rules good for homes market says Ronald Ennik

State review of visa rules good for homes market says Ronald Ennik
“The residential property sector should welcome President Jacob Zuma’s announcement of a ministerial review of the controversial new visa and other entry requirements imposed on foreign visitors by the Department of Home Affairs.”
State review of visa rules good for homes market says Ronald Ennik

The road ahead for the real estate market

The road ahead for the real estate market

Housing demand still exceeds supply in most parts of SA and this situation is not expected to change for the rest of this year, despite the possibility of a further small rate rise.
The road ahead for the real estate market


Areas of vibrant growth in South Africa's residential property market

Areas of vibrant growth in South Africa's residential property market
Ongoing trends of urbanisation, migration between provinces and the growing appeal of smaller, more centrally-located homes indicate that pockets of strength which are achieving vibrant growth will remain in certain sectors of the country’s residential property market...
Areas of vibrant growth in South Africa's residential property market

Home Loans/ Approvals still on the rise

Home Loans/ Approvals still on the rise
The number of home loans being approved by banks is currently growing at a faster rate than at the beginning of the year – despite the fact that the winter months are usually the slow season for home sales and bond applications...
Home Loans/ Approvals still on the rise

How to Get a Home Loan

How to Get a Home Loan
The majority of buyers need to obtain financing to purchase a property and that generally means applying for a home loan at one of the national banks. This process involves a lot of paperwork and background checks but there are a couple of things applicants can do to increase the chances of their home loan being approved...
How to Get a Home Loan

Common mistakes made by home buyers, sellers and estate agents

Common mistakes made by home buyers, sellers and estate agents
One of the uncomfortable facts that he has come, with regret, to realize after 43 years in property marketing – and property development – says Bill Rawson, Chairman of the Rawson Property Group, is that the same mistakes by sellers, buyers and estate agents are repeated year after year – despite regular warnings in the property media and an ongoing flow of educational literature from the major agencies, conveyancers, banks and bond originators...
Common mistakes made by home buyers, sellers and estate agents

How to Choose the Right Rental Investment Property in the Cape Town Residential Market

How to Choose the Right Rental Investment Property in the Cape Town Residential Market
The rental market in South Africa is finally on the upswing again after its last spike during the 2010 Soccer World Cup, showing steady growth over the past year with the current national average rental increasing from R6 000 to R6 354 by the end of the first quarter of 2015, according to figures recently released by Payprop Rental Index...
How to Choose the Right Rental Investment Property in the Cape Town Residential Market

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Focus on the Garden Route

Focus on the Garden Route
Garden Route a ‘hidden treasure’ for foreign investors

While most foreign property buyers are still focusing on Cape Town’s Atlantic Seaboard and Johannesburg’s northern suburbs, the Garden Route is a “treasure trove” that is only slowly being discovered by the more adventurous...
Focus on the Garden Route

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In the Area

Gold, history, architecture and culture

Gold, history, architecture and culture
The name Gauteng is derived from the Afrikaans word “goud” (gold) plus the Sotho-Tswana locative suffix "-ng". This referred to the growing gold industry in the province following the 1886 discovery of gold in Johannesburg...
Gold, history, architecture and culture

Cape Flats sales surge

Cape Flats sales surge
Homes sales in Cape Flats suburbs such as Athlone, Kewtown and Hanover Park are currently surging as the area enjoys the knock-on effect of strong demand and price inflation right across Cape Town...
Cape Flats sales surge

Investors see the light in Jo’burg CBD

Investors see the light in Jo’burg CBD
Maboneng means “Place of light” in Sotho, and it is aptly named, because this once decidedly dark and dingy corner of the Johannesburg CBD is now a vibrant, clean and airy precinct where young entrepreneurs and their bright ideas are clearly flourishing...
Investors see the light in Jo’burg CBD
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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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