 |
 |
Weekly Property News
Friday, 20 November, 2009 |
|
 |
|
 |
 |
 |
FROM THE EDITOR |
Britain's real estate market has attracted billions
of pounds of investment from international property
buyers since values hit a floor in September LONDON, Nov 17
(Reuters) - South African entrepreneur Nathan Kirsh has become
the latest overseas investor to set his sights on Britain's
fast rebounding property market. Is it safe to say,
Let the good times begin to roll? With Eskom that
is now compelled to revise the proposed 45% tariff increase
over the next three years the answer might just be, yes. If
we can twist the arm of Gill Marcus, Governor of the Reserve
Bank, to lower the interest rate the answer will be YES!
Headlines: Home loan applications are still not being
approved as readily as they should be, given banks public
commitments to reopening the credit taps for property
and this years cuts in interest rates. The real
estate industry is waiting in vain for the much heralded easing,
says Henry Lee of CENTURY 21. And that is where our focus
falls this week;
- Africa's Mortgage Market Is Transforming
- Mortgage trends in SA
- Home loan applications drowning in NCA red tape
- Should I fix my mortgage bond rate
Marketing updates: Characterised by at least a
50 percent fall-off in the volume of sales, an extreme scarcity
of bank lending finance and, as a generalisation, a marginal
fall-off in pricing, the past year has seen extremely tough
trading conditions for the property industry - all
of which conspired to leave companies in this sector competing
in a market which halved overnight, said Dr Andrew Golding,
CE of the Pam Golding Property (PGP) SA property's annus
horribilis - Andrew Golding
Enjoy!
The editor
|
 |
 |
In
This Issue |
 |
Featured
Property |
|
 |
|
|
|
Mpumalanga,
Sabie
Property Type: House - Ideal for a Guesthoue; Panoramic
views over Sabie Valley...
|
 |
CyberProp
Property Count: 20/11/2009 |
| Search
Now |
 |
Properties for Sale: 137,521
Properties to Rent: 10,621
|
|
|
|
 |
|
|
 |
 |
 |
 |
Real
Estate News International |
| Africa's
Mortgage Market Is Transforming |
 |
 |
Kwaku Gima has spent almost fifteen years building
his family a house, and it's still not finished.
The floor hasn't been plastered smooth and the
kitchen cabinets are yet to be fitted...
|
|
 |
Local
News |
| Mortgage
trends in SA |
 |
 |
Tito Mboweni is the first South African Reserve
Bank governor to have become a true celebrity!
Everywhere he appears in public, groupies hang
onto his lips, frantic to know whether there will
be another rate-cut or not...
|
|
| Home
loan applications drowning in NCA red tape |
 |
 |
Home loan applications are still
not being approved as readily as they should be,
given banks public commitments to reopening
the credit taps for property and this years
cuts in interest rates... |
|
| Should
I fix my mortgage bond rate? |
 |
 |
One of the questions that he is most frequently
asked, says Tony Clarke, is should I fix
the interest rate on my mortgage bond and, if
so, at what rate and for how long...
|
|
| Property
takes flight |
 |
 |
Massive increases in residential property sales
have been reported by Seeff Properties...
|
|
| SA
property's annus horribilis - Andrew Golding |
 |
 |
Reflecting on the year in which half the country's
estate agents disappeared
Characterised by at least a 50 percent fall-off
in the volume of sales, an extreme scarcity of
bank lending finance and, as a generalisation,
a marginal fall-off in pricing, the past year
has seen extremely tough trading conditions for
the property industry...
|
|
| Capital
Gains Tax on property |
 |
 |
Everyone involved in residential property right
now, said Bill Rawson, Chairman of Rawson Properties,
has become uneasily aware of the frustration and
resentment among people in the lower income levels
caused by homeownership being beyond their reach
- despite repeated promises from the state that
delivery here would speed up...
|
|
| Mixed
impact on real estate and tourism |
 |
 |
With our currency pegged to the US dollar, which
has been declining in recent months, it could
very well lead us to believe that we might see
a recovery in the real estate market and tourism
if it continues that way...
|
|
| Asrin
see indicators of an upturn in 2010 |
 |
 |
Asrin Property Developers, one of the major residential
developers in the Cape, have put together a five
year business plan which, taking account of future
economic trends, will see them being far more
active from 2010 onwards...
|
|
|
"Black
Diamonds" home ownership slowed by recession
|
 |
 |
Over 50 000 former township and lower income
bracket residents are moving annually into what
were formerly exclusively white areas and, although
this process has been slowed by the recession,
it still represents one of the most fundamental
changes ever seen in South African society...
|
|
| Inflexibility
wont sell properties |
 |
 |
The property market is turning but things are
still a far cry from being a sellers market
and the warning from the property experts is that
both buyers and sellers need to be realistic in
their pricing if the deals are going to happen...
|
|
| Dont
give carte blanche in home deals |
 |
 |
It s always good advice never to sign a
carte blanche in business dealings and
that also holds true for property consumers signing
offers to purchase or sales agreements...
|
|
| Identify
the "character" of the node you seek, says Steward |
 |
 |
Already, says Lanice Steward, MD of Anne Porter
Knight Frank, visitors from overseas (the
swallows) and from upcountry are filtering
into Cape Town - and, she says, as happens every
year, some will inevitably start considering buying
a home here...
|
|
| The
future of RDP housing |
 |
 |
The Council for Scientific and Industrial Research
(CSIR) has developed a demonstration low-income
house with an improved design that is durable
and easy to extend...
|
|
|
 |
 |
Focus
On |
 |
Search
For Properties |
Search for property in your area
 |
In
the Area |
The areas we are going to take a closer look at this
week are;
| In
the Area 1 - Port Elizabeth |
 |
 |
SAs best-known property group Aida has
affirmed its confidence in the Nelson Mandela
metropole property market by opening a new office
in Port Elizabeth...
|
|
| In
the Area 2 - Clarens |
 |
 |
The scenic town of Clarens in the Eastern Free
State is experiencing renewed interest among residential
property buyers, reports Pam Golding Properties
area principal Anne Maree...
|
|
 |
To
the editor |
|
| |
|
To the editor:
South Africa could have the world's most
expensive electricity if Eskom gets it tariff
increases, an economist said on Thursday.
"South Africa's electricity is more
expensive than electricity in the US, Israel
and Mexico and if Eskom gets its 45 percent
increase every year for three years,
|
|
|
|
SA will have the most expensive electricity in
the world," Mike Schussler told a presentation
on Eskom in Johannesburg entitled "Recovery
or Eskom". "We keep being told that
we have the cheapest electricity in the world
The general feeling that weve received
from our readers on last weeks newsletter
is that South Africans and in particular, homeowners,
will have to stand together and not let Eskom
get away with the new tariff proposal as tenants
would not be able to meet the monthly rent.
Share your comments with us by sending it to
news@cyberprop.com
|
|
 |
Local
News continue |
| Property
auctions: Deals of the year |
 |
 |
Looking back at 2009: Bargains, bullets, movers-and-shakers
CAPE TOWN: I've attended a fair amount of auctions
this year and it's been an interesting one to
say the least...
|
|
| Be
realistic when you choose a retirement location |
 |
 |
A cottage by the sea is such a common retirement
dream that it has become almost a cliché,
but it does clearly illustrate the point that
many peoples hopes for a happy retirement
are all tied up with real estate...
|
|
| Advice
to buyers: check, check and check again before takong
transfer |
 |
 |
When a buyer takes over a property, it is absolutely
essential that he or she checks it thoroughly,
testing all electrics, locks, windows, doors,
down pipes, drains and the rest, says Lanice Steward,
MD of Anne Porter Knight Frank...
|
|
 |
News
From |
|
|
 |
|
|
|