Weekly Newsletter
Friday, 16 November 2007
Property Search | Estate Agents | List your property

Edition 45 of 2007, Friday, 16 November 2007

Dear Reader

In the news this week;

  • South Africa - Tiny Clifton Stand goes for R 11,25 m
  • Murray & Roberts to build Dubai's "Trump Tower"
  • Boom time for listed property

Property owners in South Africa will be able to network and exchange ideas on what is happening, market trends and developments in the local property sector as sector leader and experts will be attending the three day annual Investment Property Databank and South African Property Owners Association Property Investment Conference at the Cape Town International Convention Centre. “The global real estate market is massive. Though returns have been good in South Africa, there is huge scope for South African companies to look abroad for diversification opportunities in the developed world.” This according to Craig Hallowes director of Fortress Asset Management.

We travel South Africa and bring you news from the East to the West;

  • Housing stock dries up in Mtubatuba
  • Howick becomes ‘retirement city’
  • Buyers keen on new Stellenbosch estate

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, How to buy well in a down market

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. News from iAfrica, Take advantage of tax incentives

In our CyberProp Blog we look at how Anne Porter is stoking up a Gail force in the Wynberg area.

Enjoy!
The editor


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>> Real Estate News - Fractional ownership plan queried

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...

>> Clifton plot fetches record price

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...

>> How to buy well in a down market

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...

>> Take advantage of tax incentives

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.

>> Buyers keen on new Stellenbosch estate

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...

>> Housing stock dries up in Mtubatuba

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 becomes ‘retirement city’

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...

>> Focus on Howick, KwaZulu-Natal, South Africa

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...

>> View Properties in KwaZulu-Natal
>> View Properties in Howick

>> Property of the week

KwaZulu Natal, Howick

Bedrooms: 3
Bathrooms: 3

Quietly gracious, Gentleman's Estate of 90 Ha

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>> From the CyberProp Blog

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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For Sale Property:
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