Weekly Newsletter
Friday, 15 February 2008
Property Search | Estate Agents | List your property

Edition 6 of 2008, Friday, 15 February

Dear Reader

Over the last few months we have blamed the New National Credit Act and then interest rates for the downwards trend in the property market. The latest is 'Blame it on the oil'. "All paper money is doomed to fail! It is doomed in the long run." Those were the concluding words of a presentation by the economist Dr. Marc Faber at a mining conference in South Africa. He claimed globalization has caused the whole world to act in unison, with the result that, when the current financial bubble pops, the entire global economy, built on fancy fabrications, will founder.

"In five years’ time property is expected to be about 60% more expensive than today, taking into account annual growth of 10% over this period," said Gavin Opperman, managing executive of Absa Home Loans. Property prices to rise

Against this backdrop of increasing new homeowners, many consumers are not taking the time to inspect their new homes during the crucial period of moving in - often to the detriment of their properties long term value, warns the Master Builders Association Western Cape (MBAWC). New homeowners warned to check for faults within 24 hours

South Africans keen to buy property overseas currently have several major factors in their favour – and now a leading real estate group is launching a new company specifically geared to help them make international property investments. A launch function will be held on Wednesday 20th February 2008 at the Mount Nelson Hotel in Cape Town. This is your last chance to register; CEI Overseas Properties Launch Press Release

Remember the article "RE/MAX urges state to launch first-time buyer "package" that was in last week's newsletter? Herewith a shortened response we received from one of our readers;

"I fully agree with the article but would like to add a very important aspect that a first time buyer must know. HAVE YOUR POTENTIAL NEW HOUSE INSPECTED!! before you put a signature under you 20-30 bond. This way you can budget for "surprises" that would be there without a report. If you want I could write an article on this subject, to educate the public and make sure the public is served with their best interests in mind". Richard we await your article.

In our CyberProp Blog we look why you should award a sole mandate to an experienced agent.

Enjoy!
The editor


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>> Real Estate News - Dubai real estate developer showcases iconic properties in SA

DAMAC Properties, the largest private master real estate developer in Dubai, will showcase its wide range of iconic properties spread across the Middle East during the road shows in South Africa; Johannesburg, Durban and in Cape Town in February, 2008.

Commenting on the road show, Hussain Sajwani, Chairman of DAMAC Holding, said: “Over 110 nationalities have bought our properties and the number is still growing. This road show is a platform for our valued customers in South Africa to own their second home in the Middle East. DAMAC Properties foresees a good investment portfolio in this region and we are conducting these road shows to exhibit our unique world-class property offerings.”

The Dubai-based DAMAC Properties’ span of projects has expanded beyond the borders of the U.A.E. to include over 40 landmark projects on a regional level. Today, the company’s real estate development portfolio includes residential, office and retail projects in six countries spread across 500 million sq. ft. of luxury, with over 12,000 customers.

Article from: http://www.gowealthy.com

>> IGrow Wealth Investments, the next generation of property investment:

We hope the property bubble bursts! In an investment environment where traditional investments and equity markets are being negatively affected by the global slowdown, IGrow Wealth Investments advances a tried-and-tested strategy by using the banks money to finance multiple entry-level properties, in a high return rental market, with no-money-down! IGrow Wealth is a premier property group primarily focused on property investment education and the sourcing of selected entry-level investment properties in high capital growth areas. Where the middle and high end of the property market are feeling the effects of new legislative control through National Credit Act and rising interest rates, our suggested entry-level properties are only mildly affected by these factors due to the demand remaining unchanged for this class of property or, in some cases, increasing. The real gain is the rental market which has seen a sharp increase in rental demand which has invariably pushed rental prices up beyond 30% annual increase...

>> Banks remain steadfast on new credit rules

CAPE TOWN (February 12) – Home loan applicants who try to circumvent the stricter restrictions of the New Credit Act and increase the size of their mortgage bonds by falsifying income statements will find the banks are not easily hoodwinked, warns Lanice Steward, MD of Anne Porter Knight Frank...

>> New homeowners warned to check for faults within 24 hours

CAPE TOWN (February 13) - The latest building statistics from Stats SA show that residential buildings completed in 2005 rose by 5,5 percent - as compared to 2004 - and that the number of plans passed for houses, flats and townhouses still to be built has risen by 15,6 percent.

Against this backdrop of increasing new homeowners, many consumers are not taking the time to inspect their new homes during the crucial period of moving in - often to the detriment of their properties long term value, warns the Master Builders Association Western Cape (MBAWC)...

>> Property prices to rise

South African houses prices will be 60% more expensive in the next five years, a senior official at banking group Absa said.

"In five years’ time property is expected to be about 60% more expensive than today, taking into account annual growth of 10% over this period," said Gavin Opperman, managing executive of Absa Home Loans.

As with other industry players, he noted that prices would hit the bottom this year, with price growth projected in single digits.

"This year will most probably be the year to buy property, also as an investment," he said.

John Loos, a property strategist at FNB, expects prices to slow to 8.1% this year from 13.9% last year before picking up slightly to 10.6% in 2009 and 18.9% in 2010.

Article from:

>> Pay or say – you decide

If you like to follow your own lead, think carefully before buying property in complexes where a body corporate or a homeowners’ association (HOA) makes the decisions.

Sectional title schemes are usually governed by a body corporate that enforces standards and rules, while cluster villages and estates are generally governed by an HOA, notes Berry Everitt, MD of the Chas Everitt International property group...

>> The one and only

If you are planning to sell your house, would it be better to award one estate agent a sole mandate or is it best if many agents were trying to close the sale? Two industry heavyweights voice their opinion:

The advice of Martin Schultheiss, CEO of the Homenet estate agency group:

If you want your home to sell as quickly as possible, award a sole mandate to an experienced agent and stick to it...

>> New focus on ‘green building’

THE electricity supply crisis is giving developers an incentive to adopt “green building” principles in their new property developments.

The newly established Green Building Council of SA says it believes that the electricity supply crisis is probably the “biggest promotion for green building that we can get”...

>> Focus on Potchefstroom, North West, South Africa

Founded in 1838 it was the first town north of the Vaal River, the city and district boast a rich and varied historical and cultural legacy, including many declared national monuments, such as the largest oak tree avenue in the southern hemisphere...

>> View Properties in North West
>> View Properties in Potchefstroom

>> Property of the week

North West, Potchefstroom

This is an excellent buy!!! Including: Bar, Liquor Store, General store, Chalets, Rondawels, Ablition Block, Caravan Stand, Conference Hall, Swimming Pool. The whole place is newly renovated and looks really good!!!

Search for property in your area

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>> News from FNB Home Loans

82% of houses sold below asking price

Pretoria - About 82 percent of residential properties are now being sold for less than the asking price compared with about 30 percent in the first quarter of 2005 while a home remains on the market for an average of 11 weeks before it is sold.

Jan Kleynhans, the chief executive of FNB Home Loans, said yesterday that houses in the top end of the market remained on the market for an average of 14 to 16 weeks while it took about eight weeks to sell a home at the lower end of the market...

>> CEI Overseas Properties Launch Press Release

Launch of Overseas Property Sales Company - A first in South Africa

Marketing South African real estate internationally remains a committed focus of Chas Everitt but now the leading property group is bringing the world of international property investment to South Africans.

The launch of this venture is well timed due to the convergence of a number of factors, chief amongst these being...

>> Rental returns set to rise by 20%

Investors moving back to Cape residential property

Residential rentals in Cape Town are set to rise by 12 to 15% over the next year, says Tony Clarke, MD of Rawson Properties – and investors who have kept an eye on South Africa’s economic trends are, he adds, now moving back into residential property in anticipation of these rises...

>> Software at its best!

The Property Manager provides you with a very extensive and detailed list of criteria which you can capture for your property listings and gives you the control to decide how you would want these properties to be displayed on the Internet

  • Manage property for sale and previously sold
  • Activate or deactivate Internet listings with immediate effect - no waiting!
  • Keep track of your On Show and On Special properties and list them on your website
  • Print and email multiple reports
  • Unlimited number of pictures
  • Keep a history database

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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To Rent Property:
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