Weekly Property News
25 February 2011

Dear Reader

The USA real estate industry showed the strongest investment performance in total return for 2010 for five years of 15.1 %. This according to the IPD US Quarterly Property Index. According to Bloomberg this morning new home sales fell 13% for January 2011. This leaves one with mix feelings and with a question, where will it end for 2011?

Headlines: In the headlines this week is the fuel price. South African motorist are facing a shock rise in fuel of +/- 40c over the next few months. This according to the economists.

But the main focus was on the National Budget. It had the property expert buzzing.

Berry Everitt, MD of the Chas Everitt International property group, says: "We are delighted of course at the confirmation of the R9bn Budget allocation over three years for job creation, as increased employment is key to the survival and growth of the real estate and construction sectors of the economy. "This is key to the survival and growth of the real estate and construction sectors of the economy.

Don’t miss out on the viewpoint of other property experts;

  • Adrian Goslett, the CEO of RE/MAX of Southern Africa
  • Lew Geffen, chairman of Sotheby's International Realty SA
  • Hano Jacobs, CEO of the Realty 1 International Property Group
  • Young Carr, CEO of Aida National Franchises
  • Jan Davel, MD of the RealNet property group

In my opinion and those of other property guru these toll fees will have a huge negative impact on the property industry. Do you agree?

This we asked the readers last week. Not one of our readers didn’t agree with this statement.

Toll roads are the big issue for many consumers at the moment – especially in Guateng – and they are set to have a major impact on the home buying and renting patters. Hundreds of thousands of people travel between Johannesburg and Pretoria every day," says Harcourts Africa CEO Richard Gray, "many of them living in one city and working in the other, and it is estimated that such commutes will add at least R1000 a month per vehicle to the monthly household budget. Gray says, Harcourts is expecting a surge of homebuyer interest in clusters of suburbs close to the major work nodes of central Johannesburg and Pretoria and also an increase in demand for properties with home office or work spaces. Tolls to alter property

The editor

In This Issue
Featured Property

Gauteng, Sandton, Sandhurst
House: Bedrooms: 4 | Bathrooms: 5
This Sandhurst family home has everything you need and more. No expenses were spared in the conception and finishing of this mansion...

CyberProp Property Count: 25/02/2011

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Properties for Sale: 141,526
Properties to Rent: 10,428

Local News

Budget news from Chas Everitt

The property industry should be thrilled that the key focus of the national Budget presented to Parliament this month is job creation, with almost R1-trillion over the next three years being allocated to various plans and projects to boost employment...

Budget news from RE/MAX

The news that the transfer duty threshold has been increased from R500 000 to R600 000 can only be good for first-time and entry-level buyers, says Adrian Goslett, the CEO of RE/MAX of Southern Africa...

Budget news from Lew Geffen

Lew Geffen, chairman of Sotheby's International Realty in SA, says: "I think the Finance Minister and his team have done an excellent job of addressing the many different needs that there are in our economy at the moment and has delivered a very balanced, inclusive and transparent Budget...

Budget news quote from Realty1

Hano Jacobs, CEO of the Realty 1 International Property Group, says: "For the real estate industry, the most important aspect of the Budget is the focus on job creation for young people, and all the allocations that were made with this in mind...

Budget news from Aida

Young Carr, CEO of Aida National Franchises, says: "From a macro-economic perspective the Budget presented today was very encouraging, and underlined again how well SA has done in comparison to many other, more developed counties in dealing with the fallout from the global economic crash...

Budget news from RealNet

Jan Davel, MD of the RealNet property group, says: "The most obvious good news for the property industry in the Budget is the increase in the transfer duty threshold from R500 000 to R600 000...

Transfer duty limit upped

The increase of the transfer duty exemption for properties from R500 000 to R600 000 is welcome news, a property group chief executive said on Wednesday...

National Budget 2011

Finance Minister Pravin Gordhan appears to have pleased nearly everyone with his National Budget Speech delivered yesterday (23 February), with Sanlam Group Economist Jac Laubscher calling it "quite a mouthful"...

Huge job creation potential in housing guarantee plan

Thousands of low-income earners are anxiously waiting for details of how the government’s new mortgage guarantee plan will work, hoping it will mean that they can at last obtain bank finance to buy their own homes...

Tolls to alter property

Toll roads are the big issue for many consumers at the moment - especially in Gauteng – and they are set to have a major impact on home buying and renting patterns...

First timers are back

First time buyers are making a steady return to the residential property market in South Africa according to new statistics which show that they are currently responsible for almost half of all home loan applications...

Lew Geffen Media Statement

Johannesburg estate agency boss Lew Geffen says the Estate Agency Affairs Board has now confirmed that the suspension of its CEO Nomonde Mapetla has nothing at all to do with his company, Lew Geffen Estates...

Ways for property to innovate, recover and find new opportunities

Navigating global economic recovery, finding innovative new approaches to investment and development, and unearthing fresh opportunities are in the spotlight at the 43rd Annual SAPOA International Convention and Property Exhibition...

Will 2011 Be The Turning Point For The Global Property Market?

Peter Gilmour, Chairman of RE/MAX of Southern Africa, reflects on the events that created the current global property market conditions, and ventures an expectation about what 2011 will hold for real estate on the global stage...

Overseas investors 'less active' in South Africa

The number of foreign investors active in the South African property market has fallen compared to last year, according to the fourth-quarter 2010 FNB Estate Agent Survey...

Buy now and boost your retirement savings

Low interest rates and still-depressed housing prices spell opportunity for middle-aged people concerned with improving their financial prospects on retirement...

Focus On

Sandton, Gauteng, South Africa

Sandton is the Gauteng property of choice, a sophisticated, upmarket suburb featuring expensive shops, world-class hotels and Johannesburg`s most illustrious corporate adresses...

>> Properties in Sandton
>> Properties in Gauteng

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In the Area

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

  • Sandton
In the area 1 - Sandton

Seeff property expo of new developments to be held at Sandton City banking mall, 22-28 February, hopes for another sell-out experienc

To the editor

Dear Editor

Why is that these builders are not prosecuted?

Tokyo Sexwale has a lot to answer for-all he does is accumulate more billions.

How much more can this cash cow be milked


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

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