THE fractional property ownership schemes in SA may be operating in contravention of the Property Time Sharing Control Act, says the latest edition of attorneys’ magazine De Rebus.

This is according to property lawyer Arthur Schoeman, and if what he says is true, the implications for the fractional ownership property industry are dire: with developers potentially falling foul of VAT legislation and scheme purchasers possibly having the right to terminate agreements...

An open stand in Cape Town’s Clifton area has been sold for R11.25m to an unnamed American investor, in what is believed to be the highest price per square metre for undeveloped property in SA...

Buying a home in a down market is not as easy as it seems, and buyers should be aware of possible pitfalls.

That’s the cautious word from Berry Everitt, CEO of the Chas Everitt International property group, who says that although housing stock – and thus choice - is increasing in many property markets around the country, buyers should still base their purchase decisions on sound reasoning...

Investors who purchase commercial or residential property from a developer within a proclaimed Urban Development Zone (UDZ), and subsequently let it out at market rates, may write off a portion of the purchase price against income.

Provided certain conditions are met, the so-called 'UDZ allowance' offers potential investors a significant incentive to purchase properties in these areas.

The new Stellenvista Estate near Stellenbosch has already attracted such interest that more than half the available stands have been snapped up by eager buyers ahead of the official launch this week (subs: 9 to 16 November).

“Consequently, we are expecting a swift sell out,” says Kobus Jordaan, principal of leading local estate agency Nationlink Somerset West, which is marketing the estate...

Mtubatuba in northern KwaZulu-Natal is suffering from a drastic shortage of property stock with the waiting list of buyers having increased from 100 to more than 400.

Gawie Spies, principal of leading local agency Homenet Chevwood, explains that all new developments in the town have been put on hold due to a water shortage and that there is virtually no vacant land for sale.

Howick, set in a part of KwaZulu-Natal renowned for its natural beauty and spectacular waterfalls, has become one of the region’s most sought-after retirement destinations.

Northern Howick in particular has become “retirement city” says Gleryl de Rauville of ERA Unique in Pietermaritzburg...

Sage advice on restoring vigour and vitality has throughout the ages extolled the benefits of spending time near waterfalls - the surrounding atmosphere infused with nature's curative powers unleashed by the cascading of water into water. Small wonder then, that this elevated and magnificent area where our Zulu Kingdom's mighty Mgeni River and its tributaries tumble from the edge of the Midlands Plateau has for centuries attracted with its life-enhancing magic...

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ANNE PORTER STOKE UP A “GAIL FORCE” FOR WYNBERG AREA

A “Gail force” wind is likely to blow through the Wynberg residential property world in the next few months.

This, Anne Porter Knight Frank are predicting, will come about as a result of their recruiting another “Gail” – Gail Turner – to join Gail Cawood who has served the Wynberg area loyally for APKF for two years.

Gail Turner had four years with Anne Porter before moving elsewhere for three years. She is now back and, says Lanice Steward, MD of APKF, “We are delighted to have her with us again...

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