Weekly Newsletter
Monday, 13 March, 2006
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Edition 10 of 2006, Monday, 13 March 2006

Dear Reader,

"I'm not trying to be provocative — it's a fact. Australia have had a psychological hold over South Africa since 1994," This is what Shane Warne, Australian cricket player had to say this weekend. Little did he know what was waiting for the Aussies. In a record-breaking one-day encounter South Africa beat Australia by one wicket to win the five-match Standard Bank series 3-2 and with 438 runs on the scoreboard. Well done boys!

CAPE TOWN — There would be no short-term moratorium on the sale of land to foreigners as proposed by a ministerial task team on foreign land ownership in SA — but there would in future be regulations aimed at reducing speculative activity, Parliament was told yesterday; Real Estate News – No freeze on land sales to foreigners — state

The residential home market, much as the oil price is at the vagaries of capitalist supply and demand economics. What do these two have in common? The Property Game - Supply and Demand by Dave Welmans

Many home owners have experienced exceptional growth in the value of their properties in recent times, but they are now concerned that they could end up with huge rates bills that they will simply not be able to pay. Municipal valuations spark fear of rates hike

Ramsgate, KwaZulu Natal, South Africa, has a quaint village atmosphere and beach front holiday cottages nestling amongst the indigenous coastal bush, which is so typical of this subtropical region. The beaches, lagoons and glorious walks along the sandy shore are enjoyed by visitors that prefer a quieter place. Focus on by .

Enjoy!
The editor

 

 

>> Real Estate News – No freeze on land sales to foreigners — state

CAPE TOWN — There would be no short-term moratorium on the sale of land to foreigners as proposed by a ministerial task team on foreign land ownership in SA — but there would in future be regulations aimed at reducing speculative activity, Parliament was told yesterday...

>> R30m for inner-city flats

PROPERTY developer Alfonso Botha is building two of the most expensive penthouses in the country — placing Joburg’s inner city back on the international property map.

The palatial 800m² flats, which are still under construction, have already caught the attention of a number of foreign investors prepared to splash out the R30-million price tag.

One potential buyer includes US millionaire football star Randall Cunningham...

>> The Property Game - Supply and Demand

Supplied by Dave Welmans www.thepropertygame.co.za

The residential home market, much as the oil price is at the vagaries of capitalist supply and demand economics. What do these two have in common?

On the surface it seems simple to explain the oil price: demand exceeds supply and therefore the price increases. A simple explanation except that the northern hemisphere has experienced its mildest winters in decades and most industrial nations have huge stockpiles of the black gold at present yet the high price of this fossil commodity remains above $60 a barrel...

>> Potch student flats are hot, hot property

The Potchefstroom property market continues to steam ahead, thanks in large part to the demand for student accommodation.

“Education is big business here and the high standards of Potchefstroom University (or Puks as it is affectionately known) attract a large student body, which has many economic spinoffs for the town,“ says Pieter Britz, co-principal of Homenet Potchefstroom.

Puks now has some 11 000 students on campus and the demand for entrance is growing. “Accommodation close to the campus is therefore at a premium, and parents correctly see an investment in a studio-styled apartment as offering the potential of good returns down the line that will probably more than cover the cost of the student’s education.

“The result is that the cost of a typical student apartment here, often developed on a site where an established freehold home has been demolished, is around R355 000 for 27sqm of living space, or anything between R13 000 and R16 000/sqm!”

Britz says it is interesting to note that demand for commune type accommodation for students is out of style and that newly-built accommodation with all the mod cons is ‘in’. “However, owners hoping to realise good profits selling their older home on a large site for re-development into student accommodation could be disappointed. Developers are generally prepared to pay only for the land value and not its improvements.”

On the other hand, the North West town does have a severe shortage of land for new development, and buyers looking to commission family homes can expect to pay between R260 000 and R440 000 for an 800sqm stand. Building costs in a middle class suburb will be about R3500/sqm, rising to some R6000/sqm in an up-market area.

“New developments are therefore relatively pricey with the result that for families, existing homes are in increasing demand as they are seen to offer good value, although not necessarily all the modern finishes or security aspects.”

>> Municipal valuations spark fear of rates hike

Municipal valuation officers doing their rounds in Cape Town have sparked anxiety among property owners who fear that property rates are going to be increased drastically.

A resident of Oranjezicht has claimed that a city valuator told him that property rates would in future be calculated at around R1 000 for every R1 million value.

Under this formula someone living in a house worth say R4-million, would have to pay around R4 000 a month.

>> Focus on Ramsgate, KwaZulu Natal, South Africa

Ramsgate has a quaint village atmosphere and beach front holiday cottages nestling amongst the indigenous coastal bush, which is so typical of this subtropical region. The beaches, lagoons and glorious walks along the sandy shore are enjoyed by visitors that prefer a quieter place. You will also find a modern apartment block here and there, which bear testimony to Ramsgate's increasing development potential and popularity...

View Properties in Kwazulu Natal | View Properties in Ramsgate

>> Property of the week

Kwazulu Natal, Ramsgate

Bedrooms 3
Bathrooms 3

Luxury personified! Old house built to last. Superb condition with breathtaking views of Southbroom beach. Stone hearth,wooden rafters, utter perfection. Hurry, this is a one of a kind.

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>> Have Fun – Bill Gates Tops Forbes List of Billionaires for the 12th Year

March 9 (Bloomberg) -- Microsoft Corp. Chairman Bill Gates's net worth has risen to $50 billion, making him the world's richest person and widening his lead over No. 2 Warren Buffett, according to Forbes magazine's annual survey.

Gates's fortune increased 7.5 percent from $46.6 billion last year, while Buffett, 75, chairman of Berkshire Hathaway Inc., lost 4.8 percent to $42 billion. Gates, 50, has been at the top of the Forbes list for the last 12 years...

>> News from Val Ludgrove Real Estate

VAL LUDGROVE REAL ESTATE CHEESE & WINE

On the 15th of February Val Ludgrove Real Estate held a Cheese and Wine function for all our International clients. Owners of properties in Plettenberg Bay and tenants from all over the world came together on this evening. And what a success!

The purpose for this evening, put together by Ingrid, was for all out international clients to meet and mingle and to get to know each other.

We would like to thank each and everyone that attended the evening and made it such a success. Thanks to all of you this will become an annual event … so look out for the next invitation in 2007!

BUSINESS CHAMBER "BOEREBRAAI"

On the 21st of February Val Ludgrove Real Estate attended a "Boerebraai" organized by the Plett Business Chamber.

The main reason for such a gathering is to discuss certain problems and grievances that we as business owners and clients have. This meetings topic was "Development in Plettenberg Bay"

We were asked to discuss our opinions on the subject and now we are asking you as our clients to discuss it with us. What we are trying to do is make suggestions on how to make development in Plettenberg Bay work. How to make it easier for us and the town planners. We want to know how you feel about our town planning system. Should you have any suggestions or queries about this please email us on ludgrove@global.co.za

By

>> Software at its best!

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The real challenge is to find a software application (programme) that supports all facets of the industry, cutting out the need to duplicate day-to-day work. CyberAgent answers to all the estate agencies needs.

CyberAgent:

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  • Free programme updates on a regular basis
  • Currently used by over 700 Professional Estate Agencies
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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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