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Edition 7 of 2007, Friday, 23 February 2007
Dear Reader
This week, during his budget speech, Finance Minister Trevor Manuel
announced R8,4bn in personal income tax relief, mainly to compensate
taxpayers for fiscal drag. Most of this tax relief will be targeted
at people earning less than R250 000 a year. How will this influence
the property market?
"The increase to R43 000 in the tax threshold for individual
tax, and the increased figure for tax-free savings, is good news
and it is to be hoped that these extra funds will flow back into
debt repayment, including bond repayments on property."
says Berry Everitt, MD of the Chas Everitt International property
group
"Government's bigger housing budget is expected to stimulate
the property market", says Jan Davel, CEO of Aida National
Franchises
Herschel Jawitz, CE of Jawitz Properties says the Minister of
Finance, Trevor Manuel, presented a conservative budget in line
with previous years, with a shift to more social spending and far
less focus on the property market.
For the third consecutive year, Forbes.com compiled lists of the
world's most valuable properties on the market in every continent,
excluding Antarctica. One of these properties is Saudi Prince
bin Sultan's Aspen ski lodge listed for $135 million. The following
property was listed as one of the most expensive properties in
South Africa.

$7.4 million
Western Cape, South Africa
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Perched on a ridge with views of the ocean to one side and mountains
to the other, this mansion, located on an 18,000-square-foot lot,
has 10 bedrooms, each with their own bathroom. Whether lounging
by the pool, on the decks or enjoying the indoor parlour's fireplaces,
this property is considered one of the finest along the Cape's coast.
Read more in Real Estate News - World's Most Expensive Homes
2007
A Proposed national policy that could force developers to build
low-cost homes smack next to mansions would turn the house
market on its head, according to Eastern Cape property experts.
Low cost housing to abut mansions
Focus on Volksrust, Mpumalanga, South Africa. Volksrust
is the ideal stop-over when travelling between Johannesburg and
Durban. The land near where the Battle of Majuba was fought - where
the Transvaal won independence from the British - was decided suitable
for a new town to be founded on the Mpumalanga / KwaZulu Natal border.
And the place where you can still buy property for under
R300 000.00
Enjoy!
The editor

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