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Property News - 20 October 2016

FROM THE EDITOR

According to ooba's oobarometer property prices have climbed almost 6% year on year, however the third quarter of 2016 dropped quarter on quarter, declining 3.3% from Q2. Read more in The average price to buy a house in South Africa right now

Buying a vacant plot, paying it off and then saving up to build used to be a great way for buyers to get a foot on the property ladder in an affordable way. However, building costs are much higher and there is less land available in popular suburbs. Bill Rawson, Chairman of the Rawson Property Group, shares a few of the pros and cons to consider before buying vacant land in Pros and cons of buying vacant land

There's a plethora of mortgage products from a wide variety of financial institutions, all demanding a huge amount of documentation, making the mortgage application process an intimidating one. In Understanding the Business of Bonds, Engel & Völkers South Africa has compiled a guideline to help you prepare and know what to expect before you are face to face with the unknown.

Enjoy!
The editor

Property of the Week

4 Bedroom house for sale in Muizenberg
4 Bedroom house for sale in Muizenberg

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In the News this week


The average price to buy a house in South Africa right now

The average price to buy a house in South Africa right now
South African property tracker ooba has released its latest oobarometer for the third quarter of 2016, showing that property prices have climbed almost 6% year on year...
The average price to buy a house in South Africa right now

Making Your Property Work for You

Making Your Property Work for You
We all need somewhere to live and buying a property is a significant, long term financial investment, leading many to speculate whether it really is best to buy, or rent...
Making Your Property Work for You

Common pitfalls when valuing property

Common pitfalls when valuing property
For some firms, being awarded an instruction to value a property or portfolio of real estate assets is often not given sufficient regard, says TC Chetty, country manager for South Africa for the Royal Institution of Chartered Surveyors (RICS)...
Common pitfalls when valuing property

Pros and cons of buying vacant land

Pros and cons of buying vacant land
Investing in vacant land may have decreased in popularity in recent years, but high property prices and a competitive market could lead more buyers to reconsider this option in future. Property experts caution buyers that vacant land isn’t always the cheaper option in the long run, however...
Pros and cons of buying vacant land

Handy tips for first time buyers

Handy tips for first time buyers
Buying your first home is exciting, but there are a few things you should know says Anton Scheepers, franchise principal for Jawitz Properties Silver Lakes...
Handy tips for first time buyers

Understanding the Business of Bonds

Understanding the Business of Bonds
Very few South Africans can afford to pay for a property without financial assistance from a lending institution, and applying for a bond, or mortgage, is as much a part of buying a property as searching for the perfect home...
Understanding the Business of Bonds

The STSM Act: What you need to know right now

The STSM Act: What you need to know right now
Most owners in Sectional Title schemes can expect their levy payments to increase now that the Sectional Titles Schemes Management (STSM) Act has come into operation...
The STSM Act: What you need to know right now
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Focus on Muizenberg, Cape Town

Focus on Muizenberg, Cape Town
Muizenberg property increasingly popular with lifestyle buyers

Famous for its laid-back surf and sea lifestyle, Muizenberg’s property market has flourished over the last fifteen years...
Focus on Muizenberg, Cape Town

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In the Area

Paarl raises the bar for luxury home prices

Paarl raises the bar for luxury home prices
With more and more home buyers prioritising access to good schooling when considering a purchase, historic Paarl in the Cape Winelands is increasingly coming up trumps, attracting purchasers who are willing to pay top end prices in excess of R11 million in the town itself...
Paarl raises the bar for luxury home prices

Mixed-use development is changing Cape Town's city landscape

Mixed-use development is changing Cape Town's city landscape
Mixed use developments are no longer an emergent trend in Cape Town; they have become a firmly established feature of the city’s architectural landscape...
Mixed-use development is changing Cape Town's city landscape
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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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