Weekly Property News
01 July 2011

Dear Reader

The slight reduction in toll tariffs is not going to help the consumer and for sure not the real estate industry. To go with that is the electricity price hike as from today and rate increase forecast for the end of the year. This might just shake the sensitive property market.

Domestic consumers who get their power from local supply authorities will pay 25.34 percent more on average – R0.52 instead of R0.41 kilowatt per hour (kWh). Households who get their power directly from Eskom already felt the pain with a 25.8 percent tariff increase in April. Apart from this increase, supply authorities have also changed the way the tariffs are structured, adding an average 14.3 percent Inclining Block Tariff — a double whammy. This according to iAfrica.com

Headlines: Addressing the Congress of South African Trade Unions central committee in Midrand, Mr Zuma revealed some details of the much-anticipated green paper on land reform. Government officials had hinted that legislation being prepared would include limits on foreign ownership. The review of land legislation is also aimed at ensuring that land reform results in recipients using their land and that it does not destabilise SA’s food security. Mr Zuma said the land question remained a national priority. The African National Congress’s Polokwane conference decided the state should redistribute 30% of agricultural land by 2014. State to get tougher on foreign land ownership

Market news: Dark clouds remain fixed over the building-construction industry as non-residential building activity is now also contracting. In contrast to the residential sector, building activity on the non-residential front has until now been able to put up a brave face. But, in the first quarter of 2011, real gross fixed capital formation in non-residential building contracted (-1%) for the first time in 8 years. Over the same period, real gross fixed capital formation in residential buildings were down by 5%. In search of a silver lining

Contrary to what you might imagine, a green lease is not a lease printed on green paper.. but rather the future of lease agreements in South Africa and something that both SA tenants and landlords are increasingly demanding (according to recent research conducted by the Green Building Council of South Africa (GBCSA) and to the South African Property Owners Association (SAPOA). Read more in GBCSA answering South Africa's call for Green Leases

The editor

In This Issue
Featured Property

North West, Klerksdorp, Wilkoppies
- Bed: 4 | Bath:3
Once in a Lifetime Opportunity

CyberProp Property Count: 01/07/2011

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Properties for Sale: 146,474
Properties to Rent: 10,292

Local News

Interest rate hikes would curb property recovery

Strong indications that the SARB might start lifting interest rates before the end of the year will have an impact on both commercial and residential property prices...

State to get tougher on foreign land ownership

President Jacob Zuma has announced a "new trajectory for land reform in SA", which would include "precarious tenure" for foreigners whose land would revert to the state should they not meet "certain obligations"

Malema's message detimental to foreign investment

Tony Clarke, the managing director of Rawson Properties, one of the fastest growing real estate marketing groups in South Africa, says that those who deal regularly with overseas colleagues will testify that the statements of the ANC Youth League have greatly undermined the favourable image of South Africa as a business investment venue that has been built up over the last ten years, particularly by the efficient handling of the World Cup..

Providing public housing like 'trying to climb a greasy pole'

Officials from five of the country's biggest metros have lamented the limited land available for development and claimed that state-owned entities were charging exorbitant prices for its sale...

In search of a silver lining

Dark clouds remain fixed over the building-construction industry as non-residential building activity is now also contracting...

Keep your options open on retirement property

A fully-paid-for home is a vital element of a financially secure retirement, but it is actually not a good idea to buy a specific property for this purpose more than a couple of years in advance...

Paying off your bond on retirement may not be the wisest course

When South Africa’s baby boomers who entered the job market in the 1960s and early 1970s go on retirement (as many are now doing), their financial advisers will almost always tell them to use whatever pension fund, insurance or golden handshake money is paid to them to reduce or eliminate debts - including outstanding sums owed on their mortgage bonds...

What's next for property?

Growing availability of credit may help the residential housing market to regain some momentum from mid-year, but affordability and lack of confidence remain the two major stumbling blocks...

Is your area a safe place to live?

Many people are moving house these days for economic reasons, but before you rent or buy a property anywhere new and unfamiliar, you need to be sure that the area is safe for you and your family...

Blue flag beach homes

The recent awarding of Blue Flag status to no fewer than 14 Western Cape beaches is a clear indicator of the value of the province's coastal property...

What estate agents bring to the table

Buying a property is one of the biggest financial decisions many people will ever make in their lifetime. It is a decision that will probably affect their financial well-being far into the future, so it would make perfect sense to seek out the expertise of a trained real estate agent to guide them through the process...

Buying property from a non-resident?

Any person buying a South African property valued at R2 million or more from a ‘non-resident' (i.e. a person who is not an "ordinary resident") must take note that in terms of Section 35 (a) of the Income Tax Act he, the purchaser, carries full responsibility for seeing that a specified percentage of the purchase price is withheld to cover the Capital Gains Tax on the property...

GBCSA answering South Africa's call for Green Leases

Contrary to what you might imagine, a green lease is not a lease printed on green paper…but rather the future of lease agreements in South Africa and something that both SA tenants and landlords are increasingly demanding (according to recent research conducted by the Green Building Council of South Africa(GBCSA) and to the South African Property Owners Association (SAPOA))...

Tops at Sunrise Circle

The popular Kwikspar outlet at the Central Square, Pinelands (one of three for which Cape Town entrepreneur Mike Fowler and partners have a franchise, the other two being in Constantia and Woodstock), was prevented by Pinelands’ strict rulings against liquor retailing within their boundaries from having a “Tops at Spar” outlet to complement its supermarket – as it often done these days...

Focus On

Klerksdorp, North West, South Africa

Klerksdorp is the centre for a large mining and agricultural economy and boast the second larges grain co-operative in the world...

>> Properties in Klerksdorp
>> Properties in the North West

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In the Area

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

  • Johannesburg
  • Bloubergstrand
In the area 1 - Johannesburg

Joburg’s R33bn budget ‘to boost infrastructure’

Joburg mayor Parks Tau yesterday announced a budget of R33bn for 2011-12 that he said was aimed at strengthening the city’s infrastructure and management capabilities...

In the area 2 - Bloubergstrand

Record sale in Blaauwberg

Spinnakers on the Bay, a five-star luxury guesthouse, was recently sold for a record R10,5 million to a foreign investor by Jenny Williams of RE/MAX Property Associates in Blaauwberg. The sale was registered in April this year and is the highest sale transaction value recorded in Blaauwberg Ext. 1...

To the editor

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Upcoming Events

GBCSA: Convention & Exhibition – Earlybird Registration closes 30 June!

Register now for Earlybird Registration rates – these rates are valid until the end of the day, 30 June 2011 (this Thursday). Earlybird registration rates are available to single delegates; group bookings of 5+ and group bookings of 10+.

The GBCSA Convention and Exhibition to be held at the CTICC in Cape Town between 26 and 28 October 2011 promises to be one of the highlights of the South African property and construction industry calendar. We are committed to bringing you cutting edge information in green building and sustainability and have invited highly acclaimed experts from around the world to inspire new thinking in green building at our conference.

We have some exciting, world class speakers who will be exploring ideas such as green precincts and cities, liveability and sustainability, green buildings as investments, carbon tax and its impact on the property industry. Our extensive exhibition also promises to showcase a wide variety of innovative green products, services and technologies.

In addition to the main conference and exhibition, several local and international speakers will be presenting half day workshops and seminars as part of our Education Day to be held on 26 October 2011. This gives course participants the unique opportunity to be part of a small group of individuals spending significant time with these experts from around the world.

To take advantage of our Earlybird rates, register as a delegate now! - Register now

If you are interested in exhibiting, sponsoring a convention item or advertising at this event, please visit www.gbcsa-convention.org.za for more information.

We look forward to seeing you all in October!
The GBCSA Team

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