Weekly Property News
Friday, 04 June, 2010
FROM THE EDITOR

Dear Reader

The Fifa Soccer World Cup 2010 is here! With only 6 days to go the fever is running high among South Africans. Young and old are waiting for premium football viewing. Our newsletter this week is packed with property news and other property related articles but let’s first bring you some soccer news;

  • Makhenkesi Stofile, the Minister of Sport and Recreation, has revealed that old President Nelson Mandela will be at Soccer City for the opening match next week. However his grandson told the press yesterday that he is too frail to attend. As South Africans we can only wait to see if he will make his appearance in the famous no 4 jersey. The number that the South African team captain, Aaron Mokoena, will be wearing
  • If you would like to take soccer bets from the bookies the favourite at the moment is to bet on what teams will be in the final. The strongest selection at the moment with the shortest odds is a Brazil V Spain final. The second favourite is a Spain V England final. Seems like they’ve never heard of Bafana Bafana. Watch our boys!
  • The majestic Soccer City Stadium, venue for both the opening and final match of the 2010 Fifa World Cup, has won rave reviews from Fifa president Sepp Blatter, who described it as "a five-star stadium" and one of the most beautiful in the world.
  • And what about our favourite, Eskom? Eskom says it is more than ready to power up 2010 Fifa World Cup, with key industrial customers prepared to reduce demand if necessary, and with peaking power stations and electricity imports from neighbouring countries available should the need arise.

Headlines: Thousands of the more affluent people in South Africa eagerly refurbished, furnished and stocked (with bed linen, towels, cutlery and crockery) the investment townhouses that were supposedly going to make them a fortune. Many of these townhouse owners had signed deals with a group called Classic Hospitality who in turn had signed a contract with MATCH, FIFA’s official booking agent. The deal with Classic was one of many that cropped up in the past 18 months or so. Several property companies put out leaflets around the suburbs of Pretoria, Johannesburg, Cape Town and Durban at seducing homeowners into renting their properties for the duration of the World Cup. And the figures they were bandying about were spectacular: promises of making between $5k and $8k a day for the full duration of the event and that’s equivalent to between $150k and $240k for the month. Then, last week, MATCH cancelled its arrangement with Classic Hospitality who, in turn, cancelled its contracts with the respective townhouse owners, leaving them high and dry having incurred a number of expenses in getting their units up to standard. Refurbished and empty for the World Cup

In This Issue
Featured Property
Limpopo, Polokwane, Dalmada AH

This elegantly designed home certainly qualifies for five star grading...

 

 

Market news: The median house price financed is on a slow recovery path. The outlook for the sector remains constructive; however, a confluence of factors will limit the market from showing a significantly higher recovery this year. Despite improved affordability, the housing market remains constrained by (1) high household indebtedness, (2) high unemployment, (3) risks to the economic growth outlook, and by extension income growth. Residential property gauge navigating through a tough cycle

Enjoy!
The editor

International News

Prime Central London Index May 2010

Headlines:

· Prices in central London rose in May by 1.4%, the fourteenth consecutive monthly rise
· Prices are now 23% higher than they were are the low point in March last year...


Local News

World Cup host needs to live up to its promise of better housing for the poor

Since the fall of apartheid, the South African government has initiated a massive effort to improve the housing situation of millions of its marginalized citizens...


Refurbished and empty for the World Cup

Thousands of the more affluent people in South Africa eagerly refurbished, furnished and stocked (with bed linen, towels, cutlery and crockery) the investment townhouses that were supposedly going to make them a fortune...


Residential property gauge navigating through a tough cycle

What is the latest? The median property price financed for the month of May rose to R579 000 from R571 000 in April, representing an increase of 2.3% relative to last year, from 2% y/y in April...


Signals 'all green' for further market improvement

Almost halfway into 2010, the national RealNet estate agency group is satisfied that the property market recovery has now taken root...


Gautrain spinoffs start to gel

The property market on the Gautrain route axis is stirring and should speed up with the launch next week (subs: 8 June) of the first leg of the rapid transport system from Sandton to OR Tambo International airport...


Demand for affordable property remains strong

The current low interest rates and the banks’ decision to provide 100% home loans, for properties below the R1,5 million mark, available to first time homebuyers and buyers/households earning less than R15,000 per month, has boosted the demand for affordable property at the Bardale Village Development, a security lifestyle village, in Kuils River close to Zevenwacht Mall...


Plan for possible future rates increases when buying a home

The Reserve Bank’s decision to retain interest rates at the present levels is obviously welcome for home owners, but the long term prognosis is that rates will gradually rise and property stakeholders should plan accordingly...


First-timers should take the home ownership 'test'

Young people need to be really sure they are ready before they buy their first home, or they may well come to regard the property as a burden...


Important to check insurance during occupation

If you’ve sold your home and agreed that the buyer can take occupation before transfer is registered, it is important to make sure that the property will remain properly insured during the occupation period...


Sell fast, get your price

Are you having trouble selling your house? You’re not alone — the market is tough and potential takers are few and far between. Now, more than ever, it’s vital that those interested in your home see it at its finest...


Pay off the mortgage or buy another property?

A question Real Estate Investors often ask is "I have surplus funds available. Should I use them to pay off my mortgage?"


What to look for when buying a property

Buying a home is probably one of the biggest investments you will ever make. However, don't let buying your dream home become a nightmare - there are various aspects that should be considered carefully before you buy a house...


What happens when a property inheritance is not wanted by the heir

Inheriting property is always slightly more complicated than inheriting such assets as shares or movable goods and there will occasionally be cases where the heir actually does not want to take ownership of a property assigned to him...


Leisure properties still hold value

Globally real estate agents in several resort areas suggest that the time is right to purchase a holiday home because of a larger inventory and favourable prices...


Home businesses not all bad for HOAs

The issue of home-based businesses in security villages and estates has become a tricky question for the bodies corporate and home owners’ associations (HOAs) that run such developments...


Tshwane – rate clearance problems

PRETORIA - The City of Tshwane has denied that there are problems with the issuing of municipal clearance certificates within the council. In April the Democratic Alliance submitted a set of questions to the council after receiving a flurry of public complaints about the calculation of service bills and the subsequent delay in the issuing of clearance certificates to deeds attorneys...


Make your rooms 'bigger'

With many homes these days being smaller than those of yesteryear, it has become essential to find ways of making interiors look bigger, says Mike Greeff, Chief Executive of Greeff Properties...


Stone and slate products now very much 'in'

One of the major advantages of visiting Cape Town’s Building Centre, says their Public Relations Manager, Cheryl Neave, is that it gives the homeowner/architect/specifier the chance to compare rival products...

CyberProp Property Count: 04/06/2010

Search Now

Properties for Sale: 137,584
Properties to Rent: 10,152


Focus On

2010 FIFA World Cup™ fever in Polokwane, Limpopo, South Africa

Named after one of the renowned sons of the struggle and emancipation of South Africa against the apartheid regime, the Peter Mokaba Stadium holds much historical significance in South Africa. Peter Mokaba was born and bred in Polokwane and was renowned for his fighting spirit and for his inspirational leadership...

>> Property in Polokwane
>> Property in Limpopo


Search For Properties

1. Western Cape
2. Garden Route
3. Northern Cape
4. Eastern Cape
5. KwaZulu Natal
6. Free State
7. North West
8. Gauteng
9. Mpumalanga
10. Limpopo

Search for property in your area

Enter City/Suburb:

In the Area

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

  • Atlantic Seabord
  • Hermanus
  • Mauritius
In the area 1 - Atlantic Seabord

Adding to its highly successful Northern Suburbs, Southern Suburbs, Western
Seaboard and City Bowl franchises in Cape Town, the dynamic Chas Everitt
International property group is now opening an Atlantic Seaboard office...


In the Area 2 - Hermanus

Hermanus remains a destination of choice for South Africans relocating to the coast – and cash sales still represent a big chunk of transactions...


In the Area 3- Mauritius

Mauritius: a beautiful and sound investment

Real estate in Mauritius is in high demand, largely thanks to the Mauritian government’s decision to invest time, resources and money into changing the way the country attracts and conducts business, both locally and internationally...


To the editor

Share your comments with us by sending it to news@cyberprop.com


News from News from the Building Centre

It is time to improve your home's insulation

With winter now making many Cape homes considerably colder and less welcoming than they were in summer, this is a good time to consider installing - or adding to - the ceiling insulation of most homes, says Cheryl Neave, PR Manager of Cape Town’s Building Centre...


News from The Green Building Council

Multi Unit Residential tool

Call for Technical Consultant proposals for Green Star SA – Multi Unit Residential tool

The Green Building Council of South Africa is pleased to announce that we are commencing the development of the next Green Star SA rating tool, for Multi Unit Residential projects. Similar to the development of the existing Office v1 and Retail Centre v1 tools, we will use the basis of the Australian Green Star tool and customise it for South Africa through a 9 month process. A Technical Working Group of volunteer industry experts will provide input to the process, but the role of the Technical Consultant will be to provide the detailed technical research, benchmarking, and determination of local reference standards, along with development of the actual rating tool and associated calculators and writing of the Technical Manual for the tool. A detailed scope of work is provided in the Request for Proposals document.

All interested parties should review the Request for Proposals available here

Due date for proposals is close of business, Friday 25 June


Local News Continue

Make your kitchen the main attraction

If there's one thing that everyone who visits your show house will definitely look at, it's the kitchen, so it's really worth "staging" this room to look its very best...

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