Weekly Property News
24 February 2012
FROM THE EDITOR

Dear Reader

Wednesday’s budget speech by by Finance Minister Pravin Gordhan was welcomed with open arms in the residential property market. This we could see by the various responses we received from South Africa’s property gurus;

Berry Everitt, MD of the Chas Everitt International Property Group, says: "We must applaud the sentiment expressed by Finance Minister Pravin Gordhan today as he paraphrased JF Kennedys' famous "Ask not what your country can do for you, but what you can do for your country" quote in his Budget preamble.”

"We could hardly have wished for a better Budget, not only to further stimulate housing demand, but also to increase the ability of home seekers to qualify for housing finance.” Rudi Botha, CEO of BetterBond.

“The positive contributions that the budget will make to these areas of the economy, along with the other budget allocations to infrastructure development, housing subsidies and the new cities support programme, can only be of benefit to the South African economy as a whole, and in turn, the property market.” Adrian Goslett, CEO of RE/MAX of Southern Africa

Lew Geffen, chairman of Sotheby's International Realty in SA, says: "Today's Budget holds out excellent prospects for the speedy improvement of the real estate market and the sustainability of that recovery.”

Young Carr, CEO of Aida National Franchises, says today's Budget makes it clear that government wants to encourage individual property ownership - and to make this possible across as much of the economic spectrum as possible.

Jan Davel, MD of the RealNet Estate Agency Group, says: "It is clear from today's Budget that Finance Minister Pravin Gordhan is committed to keeping SA's economy in the fighting trim which has enabled it to withstand the global economic storms of the past few years, and this bodes very well indeed for the country's real estate industry.

Enjoy!
The editor

In This Issue

Hartenbos, Western Cape
Townhouse
Notes: Tomorrow's Styling for today's People!! Immaculate Family home with a sea view at Hartenbos!!

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Local News

National Budget 2012

Would you like to understand the implications of the National Budget Speech delivered by Minister Pravin Gordhan could have on you? Sanlam experts unpack the Budget for you...


Budget comment - Chas Everitt - Berry Everitt

Berry Everitt, MD of the Chas Everitt International property group, says: "We must applaud the sentiment expressed by Finance Minister Pravin Gordhan today as he paraphrased JF Kennedys' famous "Ask not what your country can do for you, but what you can do for your country" quote in his Budget preamble...


Budget comment - BetterBond - Rudi Botha

Rudi Botha, CEO of SA's largest bond originator BetterBond, says: "We could hardly have wished for a better Budget, not only to further stimulate housing demand, but also to increase the ability of home seekers to qualify for housing finance...


Budget comment – RE/MAX – Adrian Goslett

Yesterday’s budget speech, delivered to Parliament by Finance Minister, Pravin Gordhan, is encouraging for further sustainable economic growth and improvement, which in turn will have a positive impact on and spin off for the property market...


Budget comment - Sotheby's Int Realty - Lew Geffen

Lew Geffen, chairman of Sotheby's International Realty in SA, says: "Today's Budget holds out excellent prospects for the speedy improvement of the real estate market and the sustainability of that recovery...


Budget comment - Aida - Young Carr

Young Carr, CEO of Aida National Franchises, says today's Budget makes it clear that government wants to encourage individual property ownership - and to make this possible across as much of the economic spectrum as possible...


Budget comment - RealNet - Jan Davel

Jan Davel, MD of the RealNet estate agency group, says: "It is clear from today's Budget that Finance Minister Pravin Gordhan is committed to keeping SA's economy in the fighting trim which has enabled it to withstand the global economic storms of the past few years, and this bodes very well indeed for the country's real estate industry...


Developers welcome incentives

The residential property market welcomed Wednesday’s budget speech’s focus on infrastructure expenditure, which offered opportunities for the sector.


Dawie Roodt: SA needs new tax regime

Our tax regime has become so cumbersome, expensive and disruptive that it distorts the allocation of resources in the economy and hampers economic performance...


Property through the Growthpoint lens

There are many facets that have to be considered and balanced when being the biggest internally managed listed fund in SA...


Why you should insist that your buyers has been pre-approved

At this point in the property market cycle, it is particularly important for home sellers to work with agents who will only bring them offers from pre-approved buyers...


What happened to the buyer's market in property?

We read headlines like "Property Bloodbath" and yet somehow I don't see too much blood being spilt out there, says Geoff Stroebel, principal of Stroebel Properties...


Big-ticket buyers go bargain hunting in luxury estates

Other than affordability, the main drivers of the real estate market these days are low-maintenance living and higher security, and this continues to fuel the popularity of upmarket golf and lifestyle estates as well as other gated complexes...


Western Cape government's performance makes area attractive to buyers

Lanice Steward, MD of Anne Porter Knight Frank, the Cape Peninsula estate agency, says that it is now increasingly evident that the Western Cape government’s track record in fighting corruption and genuinely striving for delivery is influencing home buyers to move here from other provinces, especially if they are retiring...


Focus On

Hartenbos, Western Cape

Hartenbos is one of the most popular resorts along the South coast of the Western Cape and thousands of residents from the northern provinces spend their annual summer holiday here...

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In the Area

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

  • Hout Bay
In the area 1 - Hout Bay

Ongoing social welfare efforts in Hout Bay are enhancing the value of its residential units

Hout Bay residential property continues to trade well – and achieves prices which, if not spectacular, are good by suburban standards, says Lanice Steward, MD of Anne Porter Knight Frank...


To the editor

Share your comments with us by sending it to news@cyberprop.com


Local news continue

When it rains it pours

The worst time to find out that your roof has a leak is during the rainy season, says Adrian Goslett, CEO of RE/MAX of Southern Africa...


‘Children’s rights vital’ when seizing property

Children have a separate interest in forfeiture proceedings based on their rights enshrined in the constitution, and their interests ought not to be absorbed or equated with those of their parents as the owners of the property, the Centre for Child Law said in papers to be presented to the Constitutional Court next month...


When is CG tax due?

Sellers of homes are often intimidated or confused by the tax laws that surround any property transaction and, in particular, says Lanice Steward of the Cape Peninsula estate agency, Anne Porter Knight Frank, they are not sure as to when the capital gains tax is payable...


Transparency necessary when applying for a bond

It is absolutely necessary to be completely open and transparent with the banks when applying for a bond, says Lynette Ferndale, a conveyancer with Gunstons Attorneys...


REIT could be reality by early 2013

The listed property sector has been working with National Treasury for over five years to formalise Real Estate Investment Trust (REIT) legislation in South Africa, which is expected to be finalised in 2013...


Wendy Machanik back in court

Former estate agent Wendy Machanik's criminal case is set to continue in the Johannesburg Specialised Commercial Crimes Court on Friday...

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