Weekly Property News
Friday, 06 November, 2009

Have you been taken for a “ride” before?

U.K. resident Scott Armstrong thought he caught the deal of a lifetime when he saw a posting on website Craigslist.com for a $600 (monthly rental) Sandyport one-bedroom apartment. It was an offer he hurriedly jumped at for his imminent Bahamas move, only to have alarm bells go off later about something strange in the listing. "I should have remembered the old adage 'if something looks too good to be true it generally is'," Armstrong told Guardian Business. "The man advertising the property purported to be away in South Africa on missionary work but he kept insisting I fill out an online application form asking for personal details such as my passport number, address and age [and] I began to get suspicious. "It was then I searched the address online and discovered someone else owned the property." Indeed, Armstrong had stumbled on the first published case of a rental scam targeting The Bahamas in the online ad community. Be on the watch out as South Africa could be next

Headlines: The tourism sector has so far resisted the financial crisis better than many of the sectors including real estate. This according to Minister Marthinus van Schalwyk. BUT there is light at the end of the tunnel; Light at end of recession tunnel

Market update: After at least a year of falling house prices, South Africa's residential property values have started heading up. That's according to Absa, which has been tracking house prices closely since the 1960s. House prices ticked up by 2,6% in October, compared to same time last year. This is a little higher than the revised figure for September of 1,3% year-on-year, according to Absa's calculations; South Africa's house prices head up

The editor

In This Issue
Featured Property

Robertson, Western Cape

Property Type: Farm - Situated in one of the most beautiful areas of Robertson, it really is the perfect getaway.

CyberProp Property Count: 06/11/2009

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Properties for Sale: 137,209
Properties to Rent: 10,710

Real Estate News International

Financing remains a challenge for foreign builders

Global developers building projects are concerned about the difficulty involved in securing loans from local banks for funding their projects...

Local News

South African property 'bouncing back'

The South African property market is bouncing back from a spell in the doldrums, it has been stated...

Light at end of recession tunnel
Economic figures indicate a moderation in declines across many sectors of the local economy, sparking confidence that better days are ahead...

It will be ‘business unusual’ for agents in the recovering market

The shake out of the property market is nearly over but the industry decks have been cleared, leaving only the hard core of estate agent ‘survivors’ and opportunities for a rebirth...

South Africa's house prices head up

Absa says residential property values are improving after a year of falling prices - latest report...

Property owners bet on 2010 windfall
Owners are keeping their investment properties empty until the World Cup soccer tournament in 2010, said Seef Properties on Wednesday...

Don’t let big kids pick your pocket

Many grown-up children have had to move back in with their parents to cope with the economic downturn – but those parents need to ensure that caring for their children and/ or grandchildren does not put them at financial risk...

Beware of iffy developers

The National Home Builders Registration Council (NHBRC) has warned potential home owners to be wary of developers who make promises that sound too good to be true...

Homebuyers should watch out for water damage

Unless it’s really obvious, you will probably not notice water damage in a home as much as an overgrown garden, peeling paint or a lack of light. And yet it can be much more serious than any of these problems, and consume huge amounts of time and money to rectify...

Property insurance: Tips & traps

From sneaky exclusions, like electricity surges, to what the body corporate should cover.

"Most people view insurance as a grudge payment, a necessary evil so to speak, and insurance for property is no different," says Dirk McIntosh, insurance broker at Lyall Morgan & Associates...

A warning from APKF: insure both yourself and the house

The financial difficulties that many homeowners have experienced over the last year or more have led to some reneging on their home insurance payments, but this, says Lanice Steward, MD of Anne Porter Knight Frank, should be avoided even if it means making drastic cuts elsewhere...

Don’t sign your rights away

Homebuyers should carefully read the mortgage clause on their offer to purchase or agreement-of-sale documents to make sure they know what they are letting themselves in for...

SA's electricity nightmare: You'll pay less for rent

These numbers will shock you. Eskom to push prices above cost of a home

Thousands of tenants in South Africa are going to lose the battle to meet the monthly cost of renting their homes unless they and their landlords prepare properly for Eskom's rapid price hikes, says Andrew Schaefer, CEO of Trafalgar, the national property managers...

Focus On

Focus on Robertson, Western Cape, South Africa

The largest wine-producing area under irrigation, Robertson was founded in 1853. Its superior wines have many national and international awards. Some of the country's top racehorses are also bred in this valley...

>> View Properties in the Western Cape
>> View Properties in Robertson

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In the Area

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

  • Port Elizabeth
  • Cape Town
  • Hermanus
In the Area 1 - Port Elizabeth

Analysing PE property

Nelson Mandela Bay Metro activity tracks the national trend higher in the third quarter…

In the Area 2 - Cape Town

Analysing CT property

The Third Quarter Cape Metro FNB Residential Property Barometer pointed to a significant jump in activity levels in the region, after a very weak second quarter level. This suggests that the region is beginning to feel the positive impact of the series of interest rate cuts that took place in the first half of 2009...

In the area 3 – Hermanus

National property group Aida National Franchises has confirmed its confidence in the Hermanus property market by opening a new office to serve the needs of local buyers and sellers...

To the editor
Getting Your Home Ready for the Market

A few weeks prior to listing your house, do an inspection tour, trying to look at things through the eyes of a stranger. Make a list of things that need to be cleaned and repaired and estimate the time, cost and priority of each chore. Take a particularly good look at your bathroom(s) and kitchen. Time and money invested in painting and refurbishing these key rooms will have maximum impact..

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Local News Continue

Why greens like Eskom

There was something like jubilation among delegates to the SA Green Building Council's second annual convention in Cape Town. Eskom's proposed 45% annual tariff rise for the next three years will give them a huge boost...

Has Tokyo Sexwale unleashed the biggest crime hunt in domestic history?

JOHANNESBURG - Sometimes noisy headlines miss the bigger picture; worse, when "fraud" has become as commonplace in a country as sparrows strangling out twitters in the morning, the bigger picture can sink to the insignificant...

News From

News from Financial Mail

Alternative energy - Look to the sun

The threat of huge hikes in the price of electricity seems to have scared South Africans into considering cheaper - and more environmentally friendly - forms of energy...

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