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Property News - 27 November 2014

FROM THE EDITOR

Statistics South Africa (Stats SA) reported on Tuesday that South Africa's real gross domestic product (GDP) increased by 1.4% quarter on quarter from a revised 0.5% rise in the second quarter. They said that the seasonally adjusted real GDP at market prices for the third quarter of 2014 increased by an annualised rate of 1.4% compared with an increase of 0.5% (revised from 0.6%) during the second quarter of 2014. For more of this article read SA economy grows 1.4% in third quarter.

Bloomberg reported that the companies join the JSE as 19 of the 23 property index listings gain this year. Real estate, finance and business services expanded 2.4 percent in the third quarter on a seasonally adjusted basis from a revised 1.5 percent in the prior three months, Statistics South Africa said in its economic report released in Pretoria today. According to the report, the Johannesburg Stock Exchange will get listings from three property companies as shares in the industry outperform the main equities index this year. Read an article titled Property Companies Plan Johannesburg Listings as Index Climbs for more of this story.

Since the promulgation of the Consumer Protection Act (CPA) on 1 April 2011 there has been debate as to whether the voetstoots clause is permitted by the CPA. This article serves as an argument in the first instance that the CPA does not apply to the vast majority of residential immovable property sales and in the second instance that if the CPA is applicable, the inclusion of a voetstoots clause is not prohibited. Scroll down to learn more.

The year 2014 has seen a marked improvement in property sales, with the last couple of months characterised by demand outstripping supply in certain metro areas. For more of this article read What 2015 holds for property market.

Enjoy!
The editor

SAPTG Reports

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In the News this week

SA economy grows 1.4% in third quarter

South African GDP

South Africa's real gross domestic product (GDP) increased by 1.4% quarter on quarter from a revised 0.5% rise in the second quarter, Statistics South Africa (Stats SA) reported on Tuesday...
South African GDP


Property Companies Plan Johannesburg Listings as Index Climbs

Johannesburg Stock Exchange

The Johannesburg Stock Exchange will get listings from three property companies as shares in the industry outperform the main equities index this year...
Johannesburg Stock Exchange


What 2015 holds for property market

Real Estate in 2015

The year passed has seen a marked improvement in property sales, with the last couple of months characterised by demand outstripping supply in certain metro areas...
Real Estate in 2015


Malls rise as South African townships boom

Malls in South African Townships

The purple silk evening gown with glittering beads at the neck was perfect for the high-school prom. Kgatlhiso Molebaloa had never seen a finer fit....
Malls in South African Townships


CPA not applicable to majority of residential property sales

Consumer Protection Act

Since the promulgation of the Consumer Protection Act (CPA) on 1 April 2011 there has been debate as to whether the voetstoots clause is permitted by the CPA.This article serves as an argument in the first instance...
Consumer Protection Act


Self employed? What you need to know before obtaining a bond

Tips for self employed aspirant homebuyers
Applying for a bond when you are self-employed can be a tedious process, unless you are well prepared, work through a bond originator, and at the same time understand the bank's specific requirements and procedures...
Tips for self employed aspirant homebuyers

Sustained increase in residential property sales

residential property sales

The sustained upswing in the South African residential property market is creating stability and optimism in an environment of investment uncertainty in the economy, related to the volatility of the rand against world currencies, and fluctuations in the stock market...
residential property sales


Buying property? The deposit to secure house purchase and implications

property sale legal documents

In most Deeds of Sale, i.e. property sale legal documents, there will be a clause to the effect that the deposit required to secure the sale must be paid by a certain date. So far so good. This is ensures that the buyer takes the Deed of Sale that he has signed seriously...
property sale legal documents


Understanding Eskom's load shedding decisions

Eskom's load shedding decisions
Eskom has recently changed its thinking about load shedding and, with the blessing of the National Energy Regulator of South Africa (Nersa), households rather than industry will bear the brunt going forward...
Eskom's load shedding decisions

Electricity saving devices in preparation of blackouts

Electricity saving devices

With Eskom warning all in South Africa earlier in November of rolling blackouts due to one of their coal silos collapsing, it would be wise for sectional title schemes to consider installing power saving devices within their schemes and units...
Electricity saving devices




Oliver's House fundraising campaign


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Welcome to Hermanus, an official Whale Watching Capital of the World. Other than being a lively hub of all year activities in the Western Cape Province, this South African coastal city is the best land based whale watching in the world. It has been reported that about 60 to 100 Southern Right Whales visit Walker Bay, Hermanus' shores from July until December every year...
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In The Area

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

  • Wynberg

Two commercial properties on Wynberg Main Road coming up for auction

commercial properties on Wynberg Main Road
Honing in once again on the growing demand for well-let commercial properties that give satisfactory returns, Rawson Auctions have secured two commercial buildings on Main Road, Wynberg...
commercial properties on Wynberg Main Road

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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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