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Weekly Newsletter
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Friday, 16 January, 2009
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| >> Real Estate news – International market – Ethiopia & Bulgaria |
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As in many countries of the world, the Ethiopian real estate has been
booming for much of this decade. In many areas, prices doubled and even
tripled in a span of a few years. The highest appreciation in home prices
occurred in the five-year period between 2003 and 2008...
Though Bulgaria was sidetracked by the economic slowdown, the country fared better in 2008 than many of its neighbours and fellow members of the EU, maintaining higher levels of growth, seeing a fall in inflation and recording solid rates of foreign direct investment (FDI)...
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| >> Batten down the hatches ‘til July, says expert |
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That’s the word from Berry Everitt, MD of the Chas Everitt International property group, who says that while the next six months will present many opportunities for brave investors, and should see at least one more interest rate cut, “I don’t think the general confidence that is vital for a resurgence of the market will take hold until the second half of the year”...
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| >> Property outlook “bleak” but not all bad news |
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JOHANNESBURG (January 14) – FNB expects year-on-year price deflation to dog the residential property market for most, if not all, of this year. However, while conditions for the market look bleak, John Loos, FNB Home Loans Property Strategist says in its recently released overview of the December market, that it’s not all bad news...
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| >> Property in 2009 |
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Levels of activity are set to stay subdued up to the second half of the year while prices in the middle segment of the market may decline by as much as 2.5 percent in nominal terms this year. A further real decline in house prices of up to eight percent is expected in 2009, based on projected consumer price inflation trends and a drop in nominal prices, he said...
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| >> Pricing is pivotal, says Realty1IPG chief |
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With house price growth having slipped to a 12 year low emotions among sellers are running high, according to Mike Bester, CEO of Realty 1IPG (International Property Group), who says there are three main emotions likely being experienced by most sellers in today’s suppressed market. The first is defiance, evidenced by sellers confronted with unwelcome pricing advice from their agents, he says...
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| >> SA house prices falling through the basement |
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This will be good news for house buyers and property investors towards the end of the year. The Absa house price indices, released on Friday, show that prices in the middle segment of the market grew by only 4% — the lowest growth rate since 1996...
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| >> Rich, famous, gvt employee: everyone's feeling property pain |
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From lowly tax auditors to high-flying hedge fund managers - everyone's struggling to pay for the roof over their head these days, discovers Tabloid Tuesday, in this wrap of recent property news. "The tax man cometh - to help" - himself, hopefully. Tabloid Tuesday reporters, fatigued by confusing tax returns and burdened by property-related tax administration, were intrigued to spot that headline on our favourite tax site, Moneywebtax.
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| >> Sellers take heed! |
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Russell Hayes of ERA Unique Westville says while this 'maybe it will sell' mentality may not preclude a sale, it typically delays the process until the price is adjusted to more realistic levels and almost inevitably results in a lower price than the estate agent recommended at the outset...
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| >> Voetstoots for beginners |
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A voetstoots clause in an agreement of sale protects the seller against failure to obtain statutory approval for building alterations on the property which render the property unfit for its purpose. A voetstoots sale of land means that the land is sold "as it stands". Voetstoots literally means sold ‘with a shove of the foot'. In general, a voetstoots clause is designed to protect a seller of property from liability for damages arising from hidden, unknown defects in the property. This legal principle therefore does not apply in the circumstances where a seller is aware of the existence of such latent defects and, in bad faith and with the intention to defraud, deliberately conceals the defects from a purchaser...
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| >> News from – Homelink Estates in Gordon’s Bay |
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Many homeowners marketing their homes for sale think selling privately is the way to go to sell their homes in this tougher market. The argument of no commission, a slightly lower asking price and knowing your own home better than anyone else unfortunately is not enough to justify going it alone in this market if you are a serious seller. Len Wilmot of Homelink Estates in Gordon’s Bay says “Using the services and expertise of a specialised and professional estate agent is crucial if you seriously want to sell and avoid getting caught up in the viewings, negotiations and emotions of selling your property...
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| >> Focus on Barrydale, Western Cape, South Africa |
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View Properties in Barrydale
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| >> Property of the week |
Search for property in your area |
| >> City of Joburg pulled 'con job' on residents |
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The City of Joburg has pulled a "con job" on its poorest residents. This is the opinion of the inner city Property Owners' and Managers Association (POMA) and the Johannesburg Inner City Business Coalition (JICBC). The new tariffs and valuation roll have brought a host of problems for landlords and tenants, and now the two organisations are threatening the city with legal action if it fails to resolve the issues...
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| >> Software at its best! |
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For Sale Property: To Rent Property: |
The
Ethiopian Real Estate Market Slows
Bulgaria
2008
Not
until July can homeowners and sellers expect the property market to show
any real improvement.
Despite
the expectations for lower interest rates and inflation, the outlook for
the South African residential property market in 2009 remains bleak, senior
property analyst at Absa, Jacques du Toit, says.
Latest
statistics suggest that the property market is set for a moderate decline
this year, but people close to the pulse of the industry like estate agents
believe there will be further severe falls in house prices and private
property developments might be curtailed.
Whether
you're a tax collector or rich fund manager, it's become a struggle to
pay rent, offload property debt
Surprisingly,
given the dismal conditions currently prevailing in the KwaZulu-Natal
property market, sellers still persist in ignoring the advice of property
professionals and insist on over-pricing their homes.
Barrydale
has the contrast of the beautifully severe Klein Karoo vistas right next
to a lush and green fertile valley. And nestled in between, a cluster
of cottages, once built for "nagmaal" and now much sought after
by discerning people wanting to recapture the peace and tranquility of
country life.
