Weekly Newsletter
Friday, 25 May 2007
Property Search | Estate Agents | List your property

Edition 20 of 2007, Friday, 25 May 2007

Dear Reader

"I wouldn't go near residential real estate with a 10-foot pole. It's a monstrous bubble. In 10 years, residential real estate will be worth only what it is worth today" This was the words of Richard Bernstein of one of the big Mortgage Houses in the USA.

According to the ABSA Price Index that was released on Monday the above statement might not be true. ABSA predicted that it is likely that the average price of a home in SA will top R1m in 2008. South Africans brace for R1m average house price

“The property market has definitely changed” says Dr Piet Botha, chairman of the Nationlink estate agency group. "After several years in which demand kept running ahead of supply, and sellers quite often got more than their asking price as buyers competed for their properties, things have swung around in favour of buyers."

1 June 2007 and the new National Credit Act is bound to make life difficult for a lot of South Africans. According to iAfrica it will be even more difficult for bond applicants. Do you know what you have to disclose before you are considered for a bond? Bond disclosure

Val Ludgrove Properties send in the following news; "Has anyone ever seen Plettenberg Bay covered in white? Well, on Monday morning, we were treated to a "white" Plettenberg Bay, after a hail storm. As far as I know no serious damage was caused but some of the roads had to be closed as it was unsafe to travel on"

On the ridge to the west of the city is the suburb of Berea. Berea is home to several places of note. The popular Musgrave Center, a shopping and entertainment emporium, the Killie Campbell Africana Museum, a must for those interested in Zulu culture, and the Botanical Gardens (established 1849) are all highly recommended. Focus on Berea, Durban, Kwazulu Natal, South Africa

It is not always possible for us to place all the article that we have received during the week in the newsletter. For more articles visit our CyberProp.com Blog.

Enjoy!
The editor


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>>Real Estate News - South African property investors need to be fully aware of what is happening in the international property market

This is according to Tony Bales of Commercial Property Dealmakers, Bales Delaporte.

During the apartheid era, South Africa operated as an island in the greater world economy. We have only now become a full member of the global property economy and suddenly, South Africa is being affected by the events in other countries. Globalization has had a dramatic effect on the way this country conducts its business...

>> South Africans brace for R1m average house price
Rodney Hayter

South Africans are bracing themselves for the price of an average home hitting R1m in 2008 as the property market continues its steady and unrelenting increase in prices.

Tracy French, Provincial Manager at MortgageSA, says looking at the recent trends in house price data from the ABSA House Price Index, it is likely that the average price of a home in SA will top R1m in 2008...

>> Bond disclosure

The new National Credit Act is bound to make life more difficult for bond applicants — so what exactly do you have to disclose before you are considered for a bond?

The National Credit Act requires banks to conduct more thorough financial checks, including monthly expenditure enquiries, before approving bonds. This is in addition to the stipulation that homebuyers need to earn three times their monthly mortgage repayment...

>> SA firms ‘should target Africa’

ALTHOUGH property buying and development in SA remains the first choice for expansion-hungry listed property companies, there could also be opportunities in the rest of Africa — albeit with higher risk.

On the other hand, investing in countries such as the UK and the US can be problematic unless a company can partner with a local property player...

>> Stately Berea draws professionals

Rezoning along roads fringing the industrial area on Durban's Berea has led to an influx of professionals who are turning stately old homes into upmarket offices.

"Granting business rights along these roads was an inspired move and is leading to a fabulous facelift for the area," says Sylvia Short, the newly-appointed sales manager at the Chas Everitt International Berea office.

>> Focus on Berea, Durban, KwaZulu Natal, South Africa

On the ridge to the west of the city is the suburb of Berea. Berea is home to several places of note. The popular Musgrave Center, a shopping and entertainment emporium, the Killie Campbell Africana Museum, a must for those interested in Zulu culture, and the Botanical Gardens (established 1849) are all highly recommended. Some distance beyond Berea, on the eastern edges of the city, is Kloof- the high-end residential area, which is worth a drive around if only to see how lovely such an area can be. After Kloof, Botha's Hill extends along the Valley of the 1,000 Hills, and you will find yourself in spectacular countryside.

More about Berea:

Through its creative combination of both commercial and residential properties, Berea has a unique and distinctive character. Comprising of beautiful colonial homes, apartments, and villas tucked away behind high walls, as well as commercial and entertainment enterprises which are converted old homes and buildings. This area is known as the "Heart and Soul" of Durban. The Berea also boasts hotels and exclusive Bed and Breakfasts, it is leafy and romantic with open cafes spilling out onto pavements creating an often carnival atmosphere. The upmarket Musgrave Shopping Centre is a landmark where the friendly population of both chic and old established residents create an infectious buzz.

>> View Properties in KwaZulu Natal
>> View Properties in Berea

>> Property of the week

KwaZulu Natal, Durban, Berea

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>> Developer alert

Small, independent developers have become a significant feature of the property market in recent years but the phenomenon brings with it dangers as well as benefits.

"Traditionally in South Africa, development was very much the prerogative of larger companies, but while the big players are obviously still very much in the picture, recent years have also seen the emergence of numerous small independents," says Gerhard Kotzé, CEO of ERA South Africa...

>> News from - Nationlink Property Group

When markets change, strategies have to change too - including those of home sellers.

"And our property market has definitely changed," says Dr Piet Botha, chairman of the Nationlink estate agency group. "After several years in which demand kept running ahead of supply, and sellers quite often got more than their asking price as buyers competed for their properties, things have swung around in favour of buyers...

>>KZN property 'still doing well'

Pockets of the KwaZulu-Natal property market are still achieving growth of between 15 and 20 percent, creating good opportunities for investors, despite the recent hiccup in coastal sales due to the damage done when the province experienced unusually high tides.

That's the word from Richard du Toit, owner of the Aida office in Ballito on the KZN North Coast, who says the market in the province is still playing catch-up to the rest of the country...

>> From the CyberProp Blog

Trouble pulling the trigger on your first home?

You’ve made up your mind to buy a place of your own. You’ve saved a hefty down payment. You’ve poured over the daily downloads for months on end. You’ve made open house tours part of your weekend ritual. But months, perhaps years have passed and you find yourself still in your rental, no closer to being a homeowner than when you started. But why?

Perhaps, because your current home is familiar. You know exactly what to expect. You’ve come to accept its shortcomings whether they are loud neighbours, a leaky ceiling or scant street parking. There are few surprises...

>> 1 Week to go to the largest worldwide real estate exhibition - SIMA07.

The ninth edition of the Madrid Real Estate Exhibition, taking place from 29 May to 2 June, will cover a total of 100 000 square meters. SIMA’s International content will be distributed in two areas: SIMA’s Hall I (International Institutional and Investment Pavilion, and SIMA’s Inmotur (International Holiday Homes Pavilion), an area devoted to second homes in foreign countries where hundreds of property and property related exhibitors from more than 20 markets will participate...

>> Software at its best!

CyberAgent - New Development Module

The New Development Module module has been developed to assist estate agencies to market and sell New Development properties. Up until now agencies had to contact us whereby we had to develop web pages to accommodate these new developments at a cost. These developments were also only available on the agencies website only and not on all linked websites (www.cyberprop.com, www.ananziproperty.co.za, www.real-estate-south-africa.com, www.cellproperty.com and www.sundaytimesproperty.com).

This module will enable agencies to add the following information about each and every development:

  • Location information (Province, City and Suburb)

  • Main note / write-up on the development

  • Status of the development

  • Meta keywords for search engine optimization

  • Main picture

  • A picture of the site plan

  • Building specifications

  • Progress reports including pictures

  • Units
    • Unit Description

    • Selling price

    • Square meter

    • Bedrooms

    • Bathrooms

    • Garages

    • Private Garden

    • Other 1 and 2

    • Estimate Levi

    • Panoramic field to insert third party reference

    • Unit status (e.g. Now selling)

    • Unit notes

    • Notes on extras

    • Picture of the unit

    • Floor plan of the unit

    • Linked properties to this unit

    • Unit number

    • Status of unit (e.g. Sold)

    • Link reference to the property in the Property Manager

It is not necessary to complete all the fields/sections. If the information is not supplied it will not be displayed. All note fields may contain HTML tags like for instance a bold heading.

If you would like to know more about the above features and benefits that CyberAgent offer, visit: www.cyberagent.co.za or email: sales@cyberprop.com

For Sale Property:
Eastern Cape Freestate Gauteng Kwazulu Natal Mpumalanga North West Northern Cape Northern Province Western Cape

To Rent Property:
Eastern Cape
Gauteng Kwazulu Natal North West Western Cape


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