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Weekly Newsletter
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Friday, 13 February, 2009
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| >> Real Estate news – Dubai’s real estate prices fall by 25% since its peak in Sep 2008 |
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‘International Property Show - Dubai 2009’ to highlight world-class competitively priced properties Real estate prices in Dubai have dropped by 25 per cent compared to its peak in September 2008, according to recent market reports. In line with this, the ‘International Property Show - Dubai 2009’, the biggest transactional property exhibition in the region, is set to capitalise on the shift in property prices in Dubai by providing end-users and investors an opportunity to acquire their ideal property units at relatively lower prices. Strategic Marketing and Exhibitions (SME), the organiser of the event, has also revealed that the event will host world-class developers within its three day run, from February 15 to 17, 2009 at the Dubai International Convention and Exhibition Centre...
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| >> Comments on rate cut - Institute of Estate Agents |
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RATES CUT WELCOMED - BUT THE BANKS’ INABILITY TO GIVE BONDS IS THE REAL PROBLEM, SAYS INSTITUTE OF ESTATE AGENTS CHAIRMAN Ivan Neethling, the Chairman of the Western Cape branch of the Institute of Estate Agents (and National Treasurer to the organisation) has joined with other spokespeople for the residential property sector in welcoming the 1% drop in the interest rates announced on 5th February by the South African Reserve Bank’s Monetary Policy Committee. However, adds Neethling (again echoing other property spokespeople), it will take a great deal more than this to revive an industry in which sales are down 40% to 50%, prices have dropped by up to 30% and the number of agents has fallen by 50%...
MORE BANK FUNDED MORTGAGE FINANCE NOW ESSENTIAL, SAYS INSTITUTE Although this may not have been their intention, the banks’ inability and reluctance to lend mortgage finance, a situation exacerbated by the National Credit Act, has hit the lower end of the market harder than any other, says Ivan Neethling, the MD of StartProp and the Chairman of the Institute of Estate Agents Western Cape. Three years ago Neethling founded and set up the StartProp real estate agency and today it employs 40 people in four branches - Constantia, Belhar, Mitchell’s Plain and Khayelitsha...
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| >> Banks must come to the party, says top developer |
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Cutting interest rates will not help the housing market unless the banks get over their “property panic” and lower their deposit requirements. So says Keith Nash, sales and marketing director of leading residential developer Sable Homes, who notes: “Even at the current interest rates, there is steady demand for new homes and, more importantly from our point of view, for stands...
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| >> National Budget 2009 |
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It's national budget time and hence Sanlam again offers you comprehensive
commentary on the Budget 2009, announced by Finance Minister Trevor Manuel,
on 11 February.
We trust you will find this information useful for future planning. Please
contact your Sanlam adviser or broker should you need a personal meeting
or financial planning. |
| >> Property & Budget 2009: What's good, what's bad |
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Real estate and tax experts size up this week's budget and what it means for property players. It came as no surprise to Romeo Makhubela, chief investment officer at Metropolitan Asset Managers, that transfer duty was not eased when finance minister Trevor Manuel delivered the 2009 Budget Speech on Wednesday...
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| >> Budget 2009/10 – Comments |
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Lew Geffen, chairman of Sotheby's International Realty in SA says Finance Minister Trevor Manuel is to be commended on Budget that is a neat balancing act between the demands and needs of the poor on the eve of an election and the need for restrained borrowing and spending to protect SA from the worst effects of the global financial crisis...
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| >> The Players GC - Get n grip get a golf membership |
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and complete an online application form. |
| >> House prices dropping |
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"The oobarometer shows that the property market is continuing its negative trajectory," says Saul Geffen, chief executive of ooba (formerly MortgageSA). The average purchase price was at R818 905 in January 2008 compared to R779 033 in January of this year...
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| >> Global meltdown is bringing expatriates back to SA, says Rawson |
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The much publicised return to South Africa of young professionals and upwardly mobile expatriates is a reality, says Bill Rawson, Chairman of Rawson Properties – and it is assisting the residential property market to climb out of its doldrums, albeit probably not to the extent that some spokespeople for the property sector have suggested...
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| >> Property market remains ‘in the family’ |
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Much of the more than R10billion that the real estate industry earns yearly in commissions ends up with a few family-owned businesses that have not achieved much in terms of advancing black participation in the market. After 15 years of democracy there is not even one black-controlled real estate business of consequence in the market...
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| >> Solution to rental disputes |
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CAPE NEWS THE Western Cape Rental Housing Tribunal was appointed by government in 2001 and acts independently as a local watchdog to protect both parties involved in rental agreements of residential property...
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| >> Unique way of creating atmosphere in the home, using peach pips |
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Klein Zoar had a peach pip floor which made such a lasting impression on Alla that in 2004, when he bought a house that had been built in 1860 in Paarl and had to renovate, his first objective was to take out most of the existing floors and replace them with peach pip floors...
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| >> To the editor |
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Reader: Could you send me more info on building houses with sand Editor: Read more about building houses with sand in our blog; http://blog.cyberprop.com/default.blog
Reader: I would like to know - how is it possible for first time home buyers with no deposit to be able to afford buying a home? Were must we just get +- R110 000 to put down as a deposit? There's no hope for young married couples that wishes to bay their own home. Even if you could qualify for the loan and have good credit record there is no way we would be able to put down that amount of deposit required, so if we don't save for at least +-2 years, we can’t make it, and at last in 2 years everything has changed again, and we would be back to square one... I just feel so hopeless regarding this...
Kind Regards Editor: Are you feeling like this reader or if you have any advice for Chantal please send it to news@cyberprop.com |
| >> News from – Green Building Council of South Africa |
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Green Building Council of South Africa calling for sponsorship The Green Building Council of South Africa (GBCSA) is calling for sponsorship in order to develop the next tool in the Green Star SA environmental rating system for buildings. According to Bruce Kerswill, Executive Chairman of the GBCSA, the tools assess the environmental performance of buildings on a range of issues including energy, water, materials and emissions, and provide an objective assessment of how “green” a building is...
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| >> In the area... |
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The areas we are going to take a closer look at this week are;
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| >> In the area 1 – Pretoria and Brits |
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Agricultural smallholdings in the Pretoria/Brits corridor have found favour among property buyers who prefer rural lifestyles, thanks to the improved accessibility brought about by the Bakwena highway. Len Bornman of RealNet Plotte & Plase says the highway has had a major impact on property sales in the area. “Residents can now reach Pretoria in about 15 minutes and Johannesburg in less than an hour, which makes it viable for them to commute to city jobs...
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| > In the area 2 – Kempton Park |
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So says Mario Grobler, principal of leading local agency Homenet OR Tambo who notes that these buyers are increasingly approaching the banks for bonds with collateral derived from two or three relatives or even two separate families. And they are being approved...
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| >> In the area 3 – Bantry Bay |
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PGP’s area manager for the Atlantic Seaboard and City Bowl, Basil Moraitis, says the buyers are a young couple from the UK who intend to use the residence as their summer home. The house is situated on Avenue Marina, in a particularly exclusive enclave of the suburb close to the boutique hotel Ellerman House and several celebrity homes. It has panoramic views over Robben Island and beyond, and is completely sheltered from the Cape south-easter. The home was sold within four weeks of listing, and for a record price,
despite the current market conditions. |
| >> Focus on Hibberdene, KwaZulu Natal, South Africa |
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Hibberdene has five popular beaches, of which four are netted for safe bathing. All beaches are manned by lifeguards during season. >>
View Properties in Hibberdene
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| >> Property of the week |
Search for property in your area |
| >> Cape disadvantage areas now have many good agents |
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Those who believe that the real estate agencies serving the less affluent areas in Greater Cape Town are more informal and less professional than their big brand rivals in the prestige suburbs simply have not appreciated how radically these organisations have changed - and this, says Ivan Neethling, Chairman of the Western Cape Institute of Estate Agents, is due largely to the training programmes promoted by the Institute over the last few years. These, he said, have established new benchmarks which all estate agencies in these areas have had to try and achieve...
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| >> Offering from Webmail |
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| >> Software at its best! |
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Cell Phone enquiries from the public Buyers driving past your advertising boards will be able to see an unique Internet Number allocated to the specific property. They will then SMS that number to 35476 and will receive an SMS back with all the details of the property. At the same time the agent / agency will also be informed of a potential buyer. How's that for technology working for you! The cost - mahala! Free to all CyberAgent subscribers. Here's a diagram on the way this process will work...
If you would like to know more about the above features and benefits that CyberAgent offer, visit: www.cyberagent.co.za or email: sales@cyberprop.com |
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For Sale Property: To Rent Property: |
This
week we take a closer look at the 2009-10 budget announced by Finance
Minister Trevor Manuel and the impact it might have on the property
industry;
Denise
MhlangaReal estate and tax experts size up this week’s budget and
what it means for property players.
Read
comments from Sotheby's International Realty, Chas Everitt International
, Homenet, ERA South Africa, the Institute of Estate Agents and Aida on
Trevor Manuel's new Budget
The
January oobarometer price index shows a decrease of 4.8 percent in the
price of the average house.
Greater
awareness among Western Cape landlords and tenants regarding the Rental
Housing Tribunal may prove beneficial, writes ANNA-MARIE SMITH
At
the age of six Alla le Roux was taken by his parents to Klein Zoar –
the house where Wolraad Woltemade stayed during his epic rescue of the
crew that was shipwrecked in Table Bay.
Pretoria
and Brits smallholdings popular
The
latest trend to manifest in the family-orientated Kempton Park is that
black families are pooling their resources to overcome lending restrictions
and buy shared properties.
CAPE
TOWN (February 09) - Pam Golding Properties has announced its securing
of the highest price ever paid for a house in Bantry Bay – R36,54
million, for a luxury home situated on a rare half acre plot, with over
1 000sqm of living space. This figure substantially tops the previous
record of R30 million, achieved last year in a private sale.
Hibberdene,
the gateway to the Hibiscus Coast of Kwazulu Natal is a cozy little seaside
town situated 97 km south of Durban and within an hour's drive to the
Wild Coast Casino. It lies halfway between Scottburgh and Port Shepstone.
