Property News - 26 February 2015

FROM THE EDITOR

Today's newsletter is all about yesterday's Budget speech by Finance Minister Nhlanhla Nene. Most of the feedback we have received from industry players seem very positive. We share a quick overview with you as well as some of the feedback we have received.

According to Berry Everitt by doing away with the duty on pre-owned homes costing less than R750 000, the Minister is hoping to make things easier for first-time buyers, and create a knock-on effect as existing owners are prompted to upgrade.

What do you think about the budget? Share your thoughts with us at news@tivvit.com

In Focus on this week we take a closer look at the Mossel Bay property market, which after a bumper summer tourist season, can now see the knock-on effect in the local real estate market, bringing a slew of enquiries for both holiday and permanent homes and boosting sales activity.

Enjoy!
The editor


SAPTG Reports

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Property for sale in Mossel Bay

4 Bedroom house for sale in Mossel Bay
This bold, spectacular designed and breathtaking mansion is unique, architecturally one of a kind.

In the News this week


Budget in a nutshell

Budget in a nutshell
Finance Minister Nhlanhla Nene’s first national budget is conservative and shows government’s intent to tighten its belt...
Budget in a nutshell

Budget Comment From Chas Everitt International

Budget Comment From Chas Everitt International
Berry Everitt, MD of the Chas Everitt International property group, says the Budget presented today by Finance Minister Nhlanhla Nene is the best in many years, not only from the property market perspective, but in terms of the potential it has to really improve the lives of ordinary South Africans....
Budget Comment From Chas Everitt International

Budget Comment From Betterbond

Budget Comment From Betterbond
The balance that Finance Minister Nhlanhla Nene and the National Treasury were able to achieve in the Budget delivered today is heartening, given the current serious constraints on the SA economy, says Shaun Rademeyer, CEO of BetterBond Home Loans, SA’s leading mortgage originator.
Budget Comment From Betterbond

Budget Comment From Sotheby’s International Realty

Budget Comment From Sotheby’s International Realty
Today’s Budget will do much to improve consumer sentiment and confidence following the disturbing events during the State of the Nation address earlier this month, says Lew Geffen, chairman of Sotheby’s International Realty in SA...
Budget Comment From Sotheby’s International Realty

Budget Comment From Harcourts

Budget Comment From Harcourts
The Budget presented today by Finance Minister Nhlanhla Nene is surprisingly well-balanced given the current economic conditions in SA and the world, and a positive one for the property market, according to Harcourts Real Estate CEO Richard Gray...
Budget Comment From Harcourts

Budget Comment from Pam Golding Properties

Budget Comment from Pam Golding Properties
Today’s National Budget announcement by the Minister of Finance, Nhlanhla Nene, of R105 billion to be spent on housing and associated bulk infrastructure requirements, coupled with the fact that no transfer duties will be payable on property transactions below R750 000 (versus the current R600 000 threshold) is positive news for home buyers...
Budget Comment from Pam Golding Properties

Budget Comment from Leapfrog Property Group

Budget Comment from Leapfrog Property Group
The annual budget speech poses a number of challenges to ordinary South Africans in terms of increases in fuel and electricity levies as well as personal income tax. However Finance Minister Nhlanhla Nene has included measures to soften the blow (for some)...
Budget Comment from Leapfrog Property Group

It's more bricks and mortar for the über-rich

It's more bricks and mortar for the über-rich
More than 80% of the world’s richest people own two or more residences that they bought for personal use rather than as investments – and the total value of these properties jumped 8% in 2014 to more than US$3-trillion...
It's more bricks and mortar for the über-rich

Yes, you can sell a home on a busy road

Yes, you can sell a home on a busy road
Neighbourhoods can change dramatically over time, and the suburban street that was so quiet when you bought your home may now be much busier – and noisier – but that doesn’t mean that no-one will buy the property...
Yes, you can sell a home on a busy road

Get bond insurance as well as HOC

Get bond insurance as well as HOC
When you buy a new home, the bank will usually insist that you obtain a home owners’ insurance (HOC) policy to provide for the replacement of a property that has been damaged or destroyed by fire, flood, high wind, earthquake or other disaster...
Get bond insurance as well as HOC

Commission claim disputes and role of estate agents

Commission claim disputes and role of estate agents
“People generally wouldn’t try to get out of paying a garage bill or a doctor’s bill, but why then do sellers feel they can try and get out of paying commission to their estate agent?” asks Lanice Steward, managing director of Knight Frank Residential SA...
Commission claim disputes and role of estate agents
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Focus On


Mossel Bay, Garden Route, South Africa

Mossel Bay, Garden Route, South Africa
Mossel Bay market stages a great comeback

A bumper summer tourist season in Mossel Bay has had a definite knock-on effect in the local real estate market, bringing a slew of enquiries for both holiday and permanent homes and boosting sales activity...
Focus on Mossel Bay, Garden Route, South Africa

>> View properties in Mossel Bay


In The Area

The summer season has ushered in a revived interest in Knysna residential property

The summer season has ushered in a revived interest in Knysna residential property
Peter Southey, the Rawson Property Group’s franchisee for Knysna, said that it has become evident that upcountry and foreign second home buyers are once again emerging from the ‘woodwork’ and beginning to take an interest in what many have previously thought to be rather expensive homes for a holiday area...
The summer season has ushered in a revived interest in Knysna residential property

Rentals reign in Erasmuskloof

Rentals reign in Erasmuskloof
The demand for rental homes in Pretoria's Erasmuskloof area has grown exponentially and such properties now dominate the local market...
Rentals reign in Erasmuskloof

Property News Continue


Illegal to claim spotters fee

Illegal to claim spotters fee
According to Section 34A of the Estate Agency Affairs Act, any person who does not hold a Fidelity Fund Certificate may not earn commission on the sale of a property and this rule would apply to those who try to claim or earn commission by referring agents to a buyer or a seller, thereby thinking they can earn a “spotters” or “finder’s” fee...
Illegal to claim spotters fee

How to choose the right managing agent

How to choose the right managing agent
Most people who have experienced Sectional Title living will agree that it is a good idea for the trustees to appoint a managing agent...
How to choose the right managing agent

Are trustees allowed to cut electricity supply

Are trustees allowed to cut electricity supply
In many sectional title schemes there is an ongoing problem of short payment or non-payment of levies, and it sometimes happens that the trustees decide to take matters into their own hands by disconnecting the electricity supply to the unit inhabited by the non-payer...
Are trustees allowed to cut electricity supply
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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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