Property News |
22 July 2011
Yesterday we saw mixed feelings regarding the SA Reserve Banks decision to leave the repo rate unchanged. The trade union Uasa felt that Reserve Bank should not only target inflation but also employment. The decision was however welcomed by many South Africans including those in the property industry.
We will still see distressed properties being released onto the market by the major banks, which will provide property buyers with great opportunities to purchase homes at good prices. It seems that the next six months will mirror the first half of the year in most areas and the market will continue on its slow but steady path towards full market recovery. This according to Adrian Goslett, CEO of RE/MAX of Southern Africa.
From a residential property perspective, while the housing market has plateaued and is, to some extent in the doldrums, recent activity indicates an upward trend both in regard to the number of units sold and in terms of pricing. There is a cautiously optimistic outlook for the next six to nine month period as the market appears to have overcome the worst, with the result that there are opportunities for trading conditions to improve, albeit gradually. Dr Andrew Golding is the CE of the Pam Golding Property group
Headlines: The proposed Municipal Property Rates Amendment Bill is unconstitutional, the Democratic Alliance and lobby group AfriForum said on Monday. It appears that the redefinition of residential rental property as commercial property will amount to a form of income tax, which will be a violation of... the Constitution," said AfriForum head of community affairs Cornelius Jansen van Rensburg. 'Property law is illegal'
The Municipal Property Rates Amendments Bill is an ill-conceived and even dangerous piece of legislation that would not only cause havoc in the property market if it were enacted as it stands, but could also cause the already delicate relationship between ratepayers and many local authorities to break down further. So says Berry Everitt, MD of the Chas Everitt International property group, who notes that while much attention is being paid to the provision in the Bill that might see non-primary residences taxed at the same rate as commercial buildings, some other serious flaws in the proposed legislation should not be ignored. More than one flaw in Property Rates Bill
There are just a few days left to lodge comments on the Municipal Property Rates Amendments Bill and both property investors and tenants should be objecting strenuously to at least one clause in the proposed legislation. Thats the word from Hano Jacobs, CEO of the Realty 1 International Property Group, who says this is the proposal in the Bill to amend Section 1 of the Municipal Property Rates Act to the effect that the rates applicable to residential property will only be charged on primary properties (where the owners live) and not on any residential property that is rented. Tenants and landlords 'must object' to Rates Bill
Property Count: 22/07/2011|
|'Property law is illegal'|
The proposed Municipal Property Rates Amendment Bill is unconstitutional, the Democratic Alliance and lobby group AfriForum said on Monday...
|More than one flaw in Property Rates Bill|
The Municipal Property Rates Amendments Bill is an ill-conceived and even dangerous piece of legislation that would not only cause havoc in the property market if it were enacted as it stands, but could also cause the already delicate relationship between ratepayers and many local authorities to break down further...
|Tenants and landlords 'must object' to Rates Bill|
There are just a few days left to lodge comments on the Municipal Property Rates Amendments Bill and both property investors and tenants should be objecting strenuously to at least one clause in the proposed legislation...
|Interest rate decision: Housing market relieved|
This week's decision to leave the repo rate unchanged was anticipated and welcome as South Africa's economic recovery remains fragile, with consumers beset by rising costs such as increases in electricity tariffs...
|Here's why you should be upgrading|
The lowest interest rates in three decades, combined with tight credit and depressed property prices, make this an unusually good time for homeowners to upgrade to bigger or more luxurious properties...
|Property investment is safer than shares or money market|
It still comes as a surprise to him, says Michael Bauer, general manager of the property management company, IHFM which has now set up an office in Gauteng, that people who know very little about South African stocks and shares are prepared on fairly flimsy advice to invest in these assets when all the evidence goes to show that for the inexperienced investor property is a safer...
|Property act will dry up rental stock, hike prices|
Shortly after World War II, rental prices in New York sky-rocketed due to the increasing demand of returning soldiers. To mitigate this effect and to help the poor gain access to housing, a price ceiling was set to restrict property owners from charging more than a certain "fair" amount...
|Residential property price figures|
The residential property price figures which have recently appeared in the national media and which indicate further drops in prices should, says Bill Rawson, chairman of Rawson Properties, not be allowed to discourage investors in residential property in the way that they appear to be doing because they are not truly representative...
|'Cape Town is inept'|
"Cape Towns property planning and approval department has lost touch with the real world. They continue to pat themselves on the back because they are told they are performing more efficiently than other SA local authorities but that is a meaningless yardstick...
|Four certificates now necessary when selling a home|
To enable the conveyancer to carry out the transfer of a home from one owner to another, traditionally Capetonian homeowners have had to get an Electrical and Beetle Certificate (for all exposed wood) prior to registering the transfer...
|'Lease goes before sale'|
It may seem attractive for property investors to acquire a property where a lease agreement is already in place...
For Properties |
Search for property in your area
the Area |
The areas we are going to take a closer look at
this week are;
the area 1 - Bredasdorp|
Bredasdorp's The Pavilion retail centre completes its first year
The new R120 million 10 800m² The Pavilion retail centre at Bredasdorp has just completed its first year in operation and the good news, says centre manager Karin Davids, is that it is now attracting up to 800 visitors daily on weekdays and up to 2 400 on Friday evenings and Saturday mornings...
the area 2 - Belhar|
Large development plans on the cards for Belhar
Two large pockets of land belonging to the Provincial Government of the Western Cape in Belhar, adjacent to the University of the Western Cape, have recently been rezoned for both commercial and residential purposes...
|Local news continue|
|"Rescue" of central city apartment block|
When major repairs or maintenance are needed on a sectional title scheme, often the schemes trustees will lack the knowledge of how to go about implementing these and the resources to pay for them if they are urgent and cannot be put off until all owners have paid up their portion of a special levy...