According to Andrew Golding, chief executive of Pam Golding Properties, the property market in Zimbabwe has only now turned from a sellers' to a buyers' market.

"Property is still seen as an important form of investment, with high interest among South Africans as well as Russian buyers," Golding told a media briefing on Tuesday. "Despite the global economic crisis, Zimbabwe has yet to experience depreciation in house prices and the property market remains relatively unscathed...

South Africans are finally beginning to concede that a recession may just be on the cards

President Kgalema Motlanthe has even used the word depression, and our pundits seem a little less certain that our current account surplus will protect us, or that our tight credit policies and our non-dollarised economy will cushion the blow...

Harsh global economic climates have hit the South African property market hard and many in the bond origination industry have had to consolidate in order to survive.

Consolidation does have its benefits however, as the industry will emerge from this period healthier and more robust. There are cost-reducing benefits as businesses pool their resources and split overheads. Industry knowledge and experience is also shared, which is a determining factor for the longevity of the business and the progression of the industry.

One of the anomalies of the current economic situation in South Africa, says Tony Clarke, MD of Rawson Properties, which with the 140 franchises operates across the length and breadth of the country, is that, while there is general agreement that the National Credit Act was a wise piece of legislation, imposed just in time and very definitely able to protect the consumer, there are still thousands of South Africans mired in debt and overspending problems. Nowhere is this more obvious, he says, than in the housing market where many individuals who should be able to afford a home simply cannot do so as a result of overspending elsewhere, making it difficult to qualify for a bond...

In the next of Realestateweb's end-of-year series on what estate agency bosses expect for their businesses and the property market in the year ahead, Leapfrog Property Group CEO Jan le Roux sees more positives than negatives.

It is time for South Africa's political leaders to stop looking after themselves and rather care for the country, taking it forward to realise its potential, particularly now that some economic indicators show that the worst of the economic slump South Africa has experienced may be behind us and that the country is set for renewed growth by 2010.

Here are some positive economic developments...

The South African listed property sector has withstood the impact of the current global economic crisis better than almost all other sectors – but a full-scale property revival is now unlikely until the last quarter of 2010.

This was the brace-yourselves message that Mike Flax, Executive Director of Madison Property Fund Managers, had for members of the Cape property press who had asked him for his “take” on the current situation...

Most homeowners are aware of the importance of house insurance that covers the cost of repairs to the building.

But, says Martin Schultheiss, CEO of the giant Homenet real estate agency group, it is a detail that may easily be overlooked in the transition phase when property is bought and sold...

It is now official: Greeff Properties will in late November be opening an art gallery for viewing previously disadvantaged township artists works, in the Alphen Estate’s historic distillery building.

Nicky and Dudley Cloete-Hopkins, in their roles as custodians of the Alphen Estate in Constantia, have agreed to allow Greeff Properties the use of the distillery until the World Cup in 2010, rent free, provided that it is used as an art gallery for these artists. Dudley Cloete-Hopkins is a trustee of the Greeff Art Trust...

"RECYCLED” FORESHORE BUILDINGS FULLY TAKEN UP

Dennis Fabian and Berman Architects have been presented with a specially made trophy by Auto Atlantic BMW/Mini in recognition of the leadership role they played in helping to create “a world class dealership facility” on the Cape Town Foreshore...

Investors snap up Elgin stands

It has taken just five months for investors to snap up the first 53 specially discounted stands in the new Elgin Country Estate in the Overberg area of the Western Cape.

So says marketing agent Stephan Strydom of Chas Everitt Developments Western Cape, who notes that the estate will ultimately contain 115 stands ranging in size from 400sqm to 1600sqm and priced at an average of R1m once the estate is fully developed. The investor stands were sold at R400 000 each...

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

• Villiersdorp
  
• Parys
  
• Townships

In the face of rising traffic congestion, stress, crime and transport costs, many South Africans are opting to leave the city and seek out a new life in the smaller rural towns where life moves at a slower pace, children still play in the street and neighbours know one another. An added attraction is the lower cost of housing in such areas especially for those wishing to retire on a fixed income or those just starting out as property owners. One such town experiencing consistent levels of interest is Villiersdorp, situated at the north-western corner of the Western Cape’s Overberg region, just over an hour’s drive from Cape Town...

Parys market picks up

Recent weeks have seen increased demand for residential property in Parys on the banks of the Vaal River.

Pierre Boucher of the local Aida office says buyers’ confidence has been boosted by the fact that interest rates have remained unchanged since August. “Many buyers view the development as a sign that the tide is turning and that right now is an excellent time to get into the market.”

Township residential property is in much better shape than its suburban counterpart, a survey showed on Tuesday.

The third quarter FNB Township Property Barometer survey showed that township markets are, like their suburban counterparts, on a slowing trend, but that their performance remains significantly better than the suburban markets.

"In these troubled financial times, the township markets have some advantages over the suburban markets when it comes to sources of support," said FNB Property strategist John Loos...

Johannesburg - A Brief History

The area of Johannesburg began as unassuming farm land in an area known as The Witwatersrand; named after the white water springs that coursed the land. Beneath that rough but serene country was Gold.

Until George Harrison, an Australian prospector, came pioneering, the mineral wealth of the Witwatersrand lay undiscovered, as did the potential for a city. In 1886, after George had sold his gold claim for just £10, Johannesburg was born. He could not have been conscious of the profound world history that would unfold here. If he’d had only a glimmer of the city it would one day become, now in Gauteng, place of gold...

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