Weekly Property News
11 March 2011
FROM THE EDITOR

Dear Reader

Gauteng is in the headlines yet again this week;
Joburg Mayor Amos Masondo announced that Johannesburg residents with longstanding queries will receive a discount up to 50% on arrear accounts. When? If they make arrangements to settle these arrears.

The Gautrain's second phase is "substantially complete". This phase should be ready for use in June 2011. "We are about 99 percent complete. All the finishing touches are still in progress... but we are more or less finished with tracks in the tunnels," Gautrain spokeswoman Barbara Jensen told Sapa on Wednesday.

And lastly, Gauteng Toll Steering Committee will listen to the public outcry against the proposed 66c per kilometer. "We are consulting because we do not want to choke the economy and people of Gauteng." Transport Minister Sibusiso Ndebele said earlier this week.

Headlines: The FNB/BER building confidence index retreated from 38 in the 4th quarter of 2010 to 24 in the 1st quarter of 2011. This is the same level than in the 2nd quarter of 2010, which was the lowest point in the recession. Builders lose all hope

Market news: In a depressed market, such as the one we are currently in, many people find themselves asking whether it is more financially prudent to buy their own home or to rent one instead. Adrian Goslett, CEO of RE/MAX of Southern Africa, sheds some light on this age old question. “While the level of South Africans who now own their property has risen dramatically over the last decade, with the ever increasing cost of living coupled with high personal debt-to-income ratios, many South Africans are purposefully selling their homes in order to downgrade their lifestyle to more affordable levels,” he says. To Rent or Buy? That is the question

This week we place a short release from Intersect Sectional Title Services on the rules governing the common boundary (the median line) between any sectional title property and another – and also WHO is responsible for maintaining this common area? If it's broken, who's going to fix it?

On the lighter side;

Who says that you are too old to learn? Never! Oom Apie Cilliers (88) is known as one of the most energetic and active agents in the Realty 1 Bloemfontein office. Still selling houses, at 88 years young

Claasens's Atlantic-facing farmland has been identified by the Table Mountain fund for one of 28 "corridors'' it wants to protect from the ravages of climate change and real estate development. The 6bn rand campaign aims to purchase some land and, in other cases, finance stewardship schemes with landowners. Iris that flowers for just two weeks a year discovered in South Africa

Enjoy!
The editor

In This Issue
Featured Property

Western Cape, Cape Town, Constantia
House:
Bedrooms - 4 Bedrooms | 3 Bathrooms
Easy flow and good proportions throughout Gym area overlooking pool Jacuzzi and bar open plan to lounge Triple garaging excellent security and full family accommodation


CyberProp Property Count: 11/03/2011

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Properties for Sale: 144,239
Properties to Rent: 10,511

Local News

Libya Owns Prime South African Real Estate, Mail & Guardian Says

The Libyan government’s investment arm co-owns some of Africa’s most expensive real estate, including hotels in Johannesburg’s financial district and property in Cape Town’s V&A Waterfront, the Mail & Guardian reported...


Builders lose all hope

The index can vary between zero (indicating an extreme lack of confidence) and 100 (indicating extreme confidence)...


Consumer Protection Act and your property rights

The purchasers of property that was marketed to them via direct marketing, such as e-mail, will be able to cancel the sale after the property has been registered...


Be precise and speed up your property hunt

Buyers who are fortunate enough to find a home that meets their needs early on in their search should consider themselves lucky and have no hesitation in making an offer...


Three big tips for showing small homes

Although most homebuyers these days can’t afford as much house as their parents and grandparents could, and although most of them don’t actually want the hassle of maintaining a large home and garden, they still want “space”...


To Rent or Buy? That is the question

In a depressed market, such as the one we are currently in, many people find themselves asking whether it is more financially prudent to buy their own home or to rent one instead. Adrian Goslett, CEO of RE/MAX of Southern Africa, sheds some light on this age old question...


Value of home ownership

Those first time home buyers entering the property market in SA find that one of their major challenges is to overcome the “mental block” caused by short-term thinking, says Michael Bauer, GM of IHFM the property management company and managing director of IHPC, the exclusive estate agents at Bardale Village...


Buy to let residential property a good proposition

Even though we have been through three years in which property lost much of its appeal for many investors, there are still many astute property investors who, right now, see buy-to-let residential property as a good prospect and get good returns...


Has the time come for bondholders to try and fix their interest rates?

The question regularly asked by new and intending homeowners – “Should I go for a fixed rate of interest?” - has particular relevance right now, says Rob Lawrence, National Manager of the bond origination company, Rawson Finance...


How originators add value for homebuyers

Most people would not make a big investment decision without first taking some advice from an independent expert – and nor should they sign up for a home loan without help from a mortgage originator...


Property transfer tax

The new Property Transfer Tax reductions will have a significant impact on the South African residential property market, particularly for potential home buyers at the lower end of the property/income scale, says Grant Gunston, Senior Director of the Cape law firm Gunston Attorneys...


Brics membership a good step ahead for the sa economy and sa property, says Rawson MD

South Africa’s acceptance in the BRIC (Brazil, Russia, India and China, now called BRICS) group as a fellow member is already having a good effect on the country’s international image, says Tony Clarke...


Difficult to give realistic valuations on more expensive homes

The volatility of the Cape Peninsula property market and the lack of sufficient sales to draw up truly representative figures for the upper bracket market, says Anton du Plessis of Vineyard Estates...


Don't lose sight of security

Crime is decreasing in SA and, thanks to a R2bn allocation in the latest national Budget, police numbers are to be increased by a further 12 000 – but that does not mean that homeowners can afford to get lax about security...


Additional security

If there is one factor likely to increase the cost of homeownership in the urban areas of South Africa over the next five to ten years, says Rob Lawrence, National Manager of Rawson Finance, it will be the need to achieve additional security...


Prepaid meters for electricity and water best for ST schemes

Members of sectional title schemes who are charged for water and electricity in relation to the floor size (which is done through participation quota) of their units have for some time complained regularly that this method of billing is totally unfair...


Pets in rented property

Letting agents in Cape Town have repeatedly told landlords that there is a huge demand for properties in which pets (mainly cats and dogs) are welcome but the majority of landlords and their agents still shy away from accepting any sort of four legged creatures...


Compassionate landlords often strung along

Those who think that South African landlords are by and large a very hard-hearted lot and unsympathetic to the debt situations in which so many have ended up in the last two or three years simply do not know how regularly tenants experiencing financial problems have managed to delay their rent payments...


If levies are not paid Propell can step in and help

If there is a scenario in sectional title management which body corporate members find distressing, says Catherine Cockcroft, sales manager of the levy collection and funding company, Propell, it is that in which those owners who religiously pay their levies on time find themselves carrying expenses for serial non-payers...


If it's broken, who's going to fix it?

In sectional title the common boundary between any section and another or between any section and the common property is the median line of the dividing floor, wall or ceiling, as the case may be.


Focus On

Cape Town, Western Cape, South Africa

Cape Town - the Mother City of South Africa. Cape Town is a city of many attractions, a mix of cultures, landscapes, architecture, lifestyles, customs and scenery. Cape Town offers you mountains, beaches, sea, rivers, wind and a wonderful climate...

>> Properties in Cape Town
>> Properties in the Western Cape


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;

  • The West Coast
  • KZN's South Coast
  • Cape Town
In the area 1 - The West Coast

Located close to the Langebaan Lagoon and the well known West Coast National Park, Langebaan Country Estate is an easy hour’s drive from Cape Town. Maurice and Domonick Lodewick, Broker/Owners of RE/MAX Lifestyle Estates – Langebaan say that this 450-hectare estate is located in a truly unbeatable location in the heart of the West Coast...


In the area 2 - KZN's South Coast

It is not difficult to understand the appeal of the KwaZulu-Natal (KZN) South Coast – it boasts a laid-back culture and plenty of attractions, including scuba diving, offshore fishing, extreme adventures, natural scenery, great golf courses, game parks and arguably its most appealing attraction; its beaches...


In the area 3 - Cape Town

Use less ... or it's lights out, says Cape Town

The warning has been issued by the City of Cape Town, which has launched a campaign this week calling on consumers to cut electricity consumption across the city by 10 percent to keep the lights on...


To the editor

Dear editor;

CORRECTION: news from Aida/ Retails plans boost Newcastle property demand

Apologies. The cellphone number for Cindy Buthelezi in the above release sent to you last week was incorrect. The correct number is 083 593 4291 as in the current version.

The Mega/Press Network


Dear editor;

Commercial Investments

Thanks for the great content!
This information is very accurate and informative..

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


News from Gunston Attorneys

Public liability insurance

Most public building owners and sectional title bodies corporate have relatively inexpensive insurance policies protecting them from public liability claims...


Local News Continue

Sectional title schemes need adequate insurance

If there is one subject that can be relied on to generate bitterness and argument among members of sectional title schemes, it is geyser claims and repairs...


Building insurance policies

Trustees of body corporates serving sectional title schemes, especially those who have just been elected and are new to the position, are often not aware that the Prescribed Management Rules governing sectional title schemes lay it down that at the first trustee meeting following the Annual General Meeting the trustees must investigate and decide on the insurance policy for the year ahead and this must be ‘adequate’ to meet the scheme’s full needs...


CEO used Estate Agency to pay for jaunts, court told

Axed Estate Agency Affairs Board CEO Nomonde Mapetla used the agency as her personal bank account to pay for overseas jaunts and fund relatives while her work suffered...


Still selling houses, at 88 years young

Long after he could have gone on pension and spent his time gardening, playing golf or just enjoying the view from his stoep, 88-year-old “Oom” Apie Cilliers is still putting in a full day’s work every day at the Realty 1 office in Bloemfontein...


Iris that flowers for just two weeks a year discovered in South Africa

Generations of botanists had tramped unwittingly past the diminutive blue flower without noticing it. But worldwide fame now beckons for a previously unidentified iris that flowers for just two weeks a year in a field of daisies in the Western Cape...

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