Edition 48 of 2007, Friday, 07 December 2007
Banks yesterday urged the Reserve Bank to make the monetary policy
less reactive, saying that rising costs have spurred the pace of
company failures and may lead to job cuts, this after the the repo
rate was raised with another 50 basis points to 11,0%. Changes in
interest rates take one to two years to make themselves fully felt
and many analysts fear that further increases in lending rates could
hurt the economy without having much effect on inflation. What will
the banks do today? Will they give South Africans the worst possible
Christmas present to think of? Was the increase in the petrol price
renting a property at this stage be a better bet?
Property economist Erwin Rode, of Rode & Associates - From
an investment point of view and cash-flow point of view, it makes
more sense to rent at the moment, he says.
Should I fix my interest rate at my bank?
Samuel Seeff, chairman of real estate group Seeff Properties
- "When people cannot afford to buy property because
interest rates have gone up and they wish to experience a certain
type of lifestyle, they have no option but to consider renting."
Rising interest rates pose the question of fixing
John Loos, an FNB property strategist - Because interest
rates were rising the focus is on fixed interest rates. But he cautioned
that fixed interest rates should not be seen as a way to beat the
market. With rates on the march, do you fix or float?
The coastal property market continues to boom with prices
higher than those in cities, say property experts. 'Black
diamonds' fuel coastal property boom
Marketing South African real estate internationally remains
a committed focus of Chas Everitt International, but as from January
2008 the leading national property group will be bringing the world
of international property investment to South Africans. News
from Chas Everitt International Properties - Launch of Overseas
Property Sales Company a first for South Africa
of the many routes that lead north from Cape Town is the road that
follows the rugged western shores of South Africa, commonly referred
to as "The West Coast". During spring, the area is transformed
into a floral paradise, with wild flowers growing everywhere, forming
the south-western fringe of the famous flower carpets of Namaqualand,
Focus on, The West Coast, Western Cape, South Africa
In our CyberProp
Blog we look why Part-time agents will disappear.