Weekly Property News
15 July 2011

Dear Reader

Over the last few years the property market in South Africa, along with that of the rest of the world has been on a constant rollercoaster. Will it survive? “I believe that real estate in South Africa will still yield some great returns as it has previously performed well above global benchmark in the past few years”. This according to New Head of Research for Jones Lang LaSalle South Africa Ndibu Motaung. Do you agree? Send us your views to news@cyberprop.com

Headlines: The South African listed property (Sapy) index touched a record high of 395,38 points on Friday morning, breaking the previous high of 392,54 achieved on November 25. It weakened slightly to 390,67 yesterday. According to research published by the Property Loan Stock Association, property loan stock counters topped the performance list for last month. The research undertaken by the association and Grindrod Asset Management showed that Premium Properties was the sector’s top performer last month with a return of 10,5% followed by Fortress B at 6,2% and Acucap Properties at 5,4%. The listed property sector reported total returns of 1,2% last month compared with negative returns of a negative 2% for the all share. Listed property hits record high

Market news: The South African residential market is going through a very challenging time, the worst experienced in many years, with prices in 2010 dropping to 3% below 2004 levels - but recovering since then by 8,5%. However, with all its problems the SA property sector is not in the dire straits being experienced by this sector in the USA, the UK, many parts of Europe and Australia. South African residential house prices have increased some 10,5% since the low point of 2009 and SA residential property has come back from a 40% reduction to a point where it has now risen ± 8% above the 2004 level. Main trends in US housing market

The editor

In This Issue
Featured Property

North West, Lichtenburg
- Bed: 3 | Bath:2.5
This is an excelent buy for the entertainer who likes to do it in style...

International News

Main trends in US housing market

The South African residential market is going through a very challenging time, the worst experienced in many years, with prices in 2010 dropping to 3% below 2004 levels - but recovering since then by 8,5%...

Local News

Listed property hits record high

The South African listed property index touched a record high of 395,38 points on Friday morning, breaking the previous high of 392,54 achieved on November 25...

Key Benefits of Property Investment in South Africa

There has been a surge in commercial real estate investment in South Africa. Both domestic and foreign investors find buying properties in the country profitable and are assured of good return...

What the wealthy know . .

The release of the latest World Wealth Report shows that rich people are very certain that this is a good time to invest in real estate...

House prices - boom or bust

Steve Murray, a residential property specialist with 33 years of experience in the industry and editor of Real Trends International, a trends research and publishing firm based in Colorado, will be sharing some of his key property insights with local estate agents in August by exclusive invitation from RE/MAX of Southern Africa...

South African property prices up in June

Prices for properties in South Africa saw an annual rise in June, according to new figures.

Statistics from Standard Bank show house values increased by three per cent compared with the same month in 2010, I-Net Bridge reports...

Commercial property values in SA are on the rise

IPD’s latest Valuation Report shows an improvement in South Africa’s commercial property values but cautions that a full market recovery has yet to take off...

Wising up in winter

With winter in full swing many households are using a lot more energy than usual and with many consumers still feeling the pinch in a recovering market; it would make sense to look at ways to save energy and its associated costs...

Partnering in property purchases

Current property prices and affordability mean that getting onto the property ladder is an increasingly difficult task for first time buyers and consequently more people are choosing to buy a house with a friend or family member...

Cape Town and Joburg more expensive, but still cheap

Cape Town and Johannesburg have risen in an annual ranking of the cost of living in cities around the world...

Machanik home on auction

Fraud accused property doyenne Wendy Machanik's luxurious home in Sandton, Johannesburg, is to go under the hammer on Friday...

“Green Buildings” becoming the norm

The new buzzword in the commercial property market is “Green Buildings”, that is new buildings or redeveloped older buildings which have little or no negative impact on the environment. The question is: Is this a fad or is it real and commercially viable...

ST trustees must be fully involved

The serious problems - and loss of big sums of money - caused by the collapse of Constantia Sectional Title Management to thousands of sectional title owners have resulted in managing agents being branded with an ‘incompetent, unreliable’ stigma, but this is neither fair nor justified, says Catherine Cockcroft, Sales Manager of Propell, the country’s biggest levy funding and collection company which works harmoniously with many managing agents...

Maintenance of different sections of property

If there is one issue which can be almost guaranteed to raise temperatures among sectional title property owners, it is the question of who is responsible for the maintenance of the three different types of property in sectional title scheme, i.e. sections, common property and exclusive use areas...

Focus On

Lichtenburg, North West, South Africa

The town was established on the farms Middelbosch and Doornfontein which were presented for this purpose to the Transvaal Republic by Commandant Hendrik Greeff in 1866. Greeff named he town Lichtenburg as he wanted it to be a town whose light would shine over the area, not just for its hospitality and prosperity, but also in respect of religion...

>> Properties in Lichtenburg
>> Properties in the North West

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1. Western Cape
2. Garden Route
3. Northern Cape
4. Eastern Cape
5. KwaZulu Natal
6. Free State
7. North West
8. Gauteng
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10. Limpopo

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In the Area

The areas we are going to take a closer look at this week are;

  • Atlantic Seaboard
  • Central Southern Suburbs
In the area 1 - Atlantic Seaboard

Atlantic Seaboard sales plunge

Property sales activity along Cape Town’s famed Atlantic Seaboard has slowed dramatically this year after a surge in 2010 – and the sales that are taking place are mostly properties that have been on the market for a long time and are now being sold for much less than their original asking prices...

In the area 2 - Central Southern Suburbs

Central Southern Suburbs upmarket sellers resist new price levels.

Newlands, Upper Claremont, Rondebosch and Upper Kenilworth buyers find it hard to accept today’s prices, says Rawson Properties franchisee...

To the editor

Send your viewpoints to news@cyberprop.com

Local news continue

If a balcony leaks water in a ST scheme

Balconies are a huge asset in any sectional title scheme, says Michael Bauer, general manager, IHFM – but they have an inconvenient tendency to leak rainwater onto balconies or units below, and this can all too often result in damages to several units...

Basic checks carried out before appointing a managing agent can prevent serious problems later

The liquidation of Constantia Sectional Title Management, one of the larger Gauteng companies operating in this field, should, says Michael Bauer, general manager of IHFM, send a warning signal to every sectional title trustee and sectional title owners in South Africa...

A cut above the rest

Buyers looking for an exclusive lifestyle that is on par with the best in the world will find it in Bloubergstrand, says Caron Leslie, Broker/Owner of RE/MAX Property Associates, whose office services Bloubergstrand and the surrounding areas...

A ticking time bomb

Mike Greeff, Chief Executive of Greeff Properties, has drawn attention to an alarming report, now being regularly aired as an audiovisual presentation by Gerry Adlard of the African Centre for Cities which is associated with the University of Cape Town...

CyberProp Property Count: 15/07/2011

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