Edition 25 of 2004, Friday 2 July 2004
This week we saw the rand broke below 6.30 for the first time since March 31 and on Wednesday evening touched 6.12 per dollar. My question, will the rand break the 6.00 bench mark?
A few weeks ago we reported on a new development, Mandela Rhodes Place. This week strong sales at this landmark redevelopment indicated that its uniqueness makes it very attractive, and that living near public space is once again in vogue. The redevelopment consists of seven historic buildings in Cape Town's Old Town district. In just three days since its launch on June 18, there were sales of more than R200m 100 apartments have sold, of a total 163.
June 2004 - this week we take a walk with Business Day and focus on
a couple of their June articles:
Did you know that it is risky to regard your house as an investment in your retirement portfolio? Read more in A home for retirement.
And finally this week, a walk through the City of Gold, Johannesburg, Gauteng, South Africa. The fact that Johannesburg doesn't have a "flat mountain, a river or the sea" means it has to capitalise on business tourism. Johannesburg is an "emerging giant" in this sector, represents South Africa's best chance at luring business tourism. We also take a look at what is happening in Alexandria.
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|>> Real Estate in South Africa|
This week look back at the month of June 2004 and what Business Day had to say about real estate in South Africa.
New mall for Tyger Valley
MINI Cape Developments, a joint venture between black empowerment group Kagiso Property Holdings and Trakprops, has bought the 7ha Mini Cape site adjacent to Tyger Valley Centre from the city council.
The site development plan has been approved and development of the new retail centre will start shortly.
The transaction concludes the tender and urban planning process that
has been under way since 2000...
|>> News from the States|
WASHINGTON - Sales of new US homes soared 14.8% to a record high in May as people scrambled to buy before interest rates rise, government data showed.
Sales took the biggest jump in 11 years to reach a record seasonally adjusted annual rate of 1.37 million in May from an upwardly revised 1.19 million sales in April, the Commerce Department said.
New home sales were up 25.3% from a year earlier.
The middle of the range, or median, price was 198,400 dollars, down 9.0% from April but up 1.5% from a year earlier.
The number of new homes up for sale fell 7,000, or 0.5%, to 372,000 in May, enough to last 3.3 months at the current sales pace, down from 3.9 months' supply in April.
Buyers appeared to be snapping up homes before mortgage interest rates go up further.
According to mortgage wholesaler Freddie Mac, a 30-year fixed-rate mortgage rate averaged 6.32% in the week ending June 17, up from 5.21% a year earlier.
Federal Reserve policymakers are expected to tighten key short-term rates
for the first time in four years when their next two-day meeting concludes
|>> A home for retirement|
Many people look upon their house as their principal investment for retirement. They believe that by the time they are ready to retire the house will be paid off, so it can be sold and the proceeds used partially for something smaller, while the balance can be invested.
However, whenever there is a minor financial crisis the first thing many people turn to is their access bond, and as retirement draws nearer the bond continues to loom large in the wrong column of their Statement of Assets and Liabilities...
|>> Focus on Johannesburg, Gauteng, South Africa|
Johannesburg unlike the other major cities, was not founded near water. Inland, and perched on the 80km long rocky outcrop of the Witwatersrand, Johannesburg's existence and growth came from the financial waters left behind - gold.
The discovery of this enchanting mineral hidden below the plains of the
highveld sparked off one of the fastest urban developments of the modern
era. In just over a century, the ramshackle congregation of prospectors'
tents and crude digging devices near the farm of Langlaagte has spread
for more than 30 kilometres in each direction into a metropolis of skyscrapers.
|>> Property of the week|
|>> Long road through Alex|
IT'S HAPPENING IN ALEX!
Children playing in the dusty streets ran after the car shouting "Mhlungu! Mhlungu!" I turned to wave and grins broke out across their faces. Its not often that Im conscious of my whiteness, but its hard not to stand out in Alexandra.
Driving into Alex from Pretoria Main Road is akin to hopping across an
astral plane. Its hard to believe that this is still the Johannesburg
I grew up in...
|>> Have fun!!|
The Cradle of Humankind
Only 45 minutes from Johannesburg, nestling in the peaceful Sterkfontein rural valley, lies the Cradle of Humankind - a World Heritage Site - and is the world's richest hominid site.
The Sterkfontein Valley landscape comprises a band of important palaeo-anthropological sites including Sterkfontein, Swartkrans, Kromdraai, Coopers B, Wonder Cave, and various others. These sites have produced the remains of hominids (i.e. human and pre-human) from over 2 to 3,3 million years ago, the early stone-age, the middle stone age, the later stone age, the early and late iron age and up to the present day...
|>> Make your property look its best!|
It is important to make your property look its best for prospective buyers. Consider your propertys major and minor faults and whether they would influence a prospective buyer from making an offer. An estate agent may help by advising what to consider repairing to make your property easier to sell.
Clean and tidy
Things to avoid
|>> Be in the frontline|
You can now advertise your prime property on the home page of www.cyberprop.com under "Is this the property of your dreams?" Please take note that only ONE property will be on display at all times and the advertising period is for ONE week only. To make use of this unique opportunity email us at firstname.lastname@example.org
ADVERTISE ON THE CYBERPROP COMMUNITY CHANNEL!
Advertising on the web
Advertising on the web is much more effective than advertising with printed media. Printed media can be distributed to anyone where it often arrives unwanted. Internet websites obligate specific people to visit specific sites that match their interests and it is therefore easier to match the advertisement with an interested customer.
A website is of no value to you if it cannot be found and you dont want to disappear between 537, 288 other websites on search engines.
CyberProp.com is a website for South African residents, tourists and also an information centre for the business world. It is South Africa's premier property website and the ideal place to advertise.
CyberProp.com provides the best in property searches, property news, and directory information through the Community Channel.
Promotion of the website
The number of visitors to CyberProp.com is increasing constantly through our efforts to promote the website. We are constantly improving our property news in our weekly newsletter and other content on the web.
CyberProp.com believes that the Internet is more functional if it provides data that is manageable, accurate, updated regularly and comprehensive like the regional data CyberProp.com provides.
CyberProp.com has several options for someone to link with us. For more information contact email@example.com or phone 011 9559100
Also, see our private property listing on www.cyberprop.com
Are you in? To be in you HAVE to be part of our CyberAgent program!
|>> We have a winner!|
Congratulations to our June winner, Desmond Mbambo from Kwazulu Natal
YOU can also be a winner!
All you have to do is to refer your friends, family and colleagues to www.CyberProp.com and stand a chance to win this exciting prize!
The next competition has already started and the winner will be announced at the end of every month.
South Africa's best property web site updated daily by Professional Real Estate Agencies