Weekly Property News
25 May 2012
FROM THE EDITOR

Dear Reader

I could not help to wonder how many South Africans took note of the Governor of the Reserve Bank, Gill Marcus's, announcement yesterday that the repo rate will stay unchanged. Very few if you ask me as the focus was on the High Court in Johannesburg where the ANC's pleaded their case for "The Spear", the painting by Brett Murray, to be removed from the Goodman Gallery and City Press's website. Sad but true.

"As a leader in the South African property market Leapfrog Property Group welcomes the decision by the Reserve Bank to maintain the interest rate of 5.5%," says Bruce Swain, MD of Leapfrog Property Group.

Headlines: Today, property opportunities in Africa are hot topics for the local industry. It's one of the issues to be tackled at the 44th annual SAPOA International Property Convention & Exhibition. Nedbank Corporate Property Finance sponsors this top property event which takes place on 30 and 31 May 2012 at the Durban International Convention Centre. Its focus on Africa is perfectly timed. Property development and investment on the continent is growing, led by the SA property industry. In fact, several major African property transactions made SA news headlines in May alone. Property opportunities in Africa: hot topic for local industry

Market news: Commenting on a weekend paper article which appeared recently in the UK's Financial Times on the home acquisition habits of the superrich, Lanice Steward, managing director of the Cape estate agency, Anne Porter Knight Frank, said that it might surprise South Africans to learn that South Africa, although by no means a big player in the super rich house buying scenario, does have its members who fit comfortably into this set - and who, like them, are targeting the prime global city safe havens - Monaco, Paris, London, Dubai, Hong Kong, New York and Shanghai - for their purchases. Cape Town could benefit from trend to buy internationally

Enjoy!
The editor

In This Issue

Dullstroom, Mpumalanga, South Africa
This wonderful lifestyle farm is situated approximately 8km from the main Belfast Dullstroom road. The farm consists of 248ha and 3 title deeds...


CyberProp Property Count: 25/05/2012

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Properties for Sale: 126,193
Properties to Rent: 10,376

Local News

Property opportunities in Africa: hot topic for local industry

Looking beyond South Africa’s skyline to future horizons, the prospects for the country’s property industry depends on navigating a minefield of challenges to access opportunities in South Africa and Africa...


Leapfrog welcomes unchanged interest rate

"As a leader in the South African property market Leapfrog Property Group welcomes the decision by the Reserve Bank to maintain the interest rate of 5.5%," says Bruce Swain, MD of Leapfrog Property Group...


The economic case for sustainable real estate

The prominent role of real estate is increasingly recognized in the wider debate on climate change, as commercial and residential buildings account for a significant proportion of carbon emissions...


Average sales price of Western Cape property

Western Cape estate agents, says Annette Evans, Manager of the Western Cape branch of the Institute of Estate Agents of South Africa data processing division (PropStats) are always 'hungry' for figures that will show that the downturn is coming to an end and property values are rising...


Cape Town could benefit from trend to buy internationally

Commenting on a weekend paper article which appeared recently in the UK's Financial Times on the home acquisition habits of the super rich, Lanice Steward, managing director of the Cape estate agency, Anne Porter Knight Frank, said that it might surprise South Africans to learn that South Africa, although by no means a big player in the super rich house buying scenario, does have its members who fit comfortably into this set...


Piano man puts lavish Miami home on sale

Six-time Grammy award winner Billy Joel has just given Sotheby's International Realty the mandate to sell his sumptuous Miami mansion...


Hope on the horizon for downsizers

For some three years now, says Lanice Steward, managing director of the Cape Peninsula estate agency, Anne Porter Knight Frank, growing numbers of Capetonians hoping to downsize have been holding back on selling their properties in the hope that the achievable price will rise to a more acceptable level...


Investing in student accommodation

As long as there are universities, there will be a need for student accommodation, says Adrian Goslett, CEO of RE/MAX of Southern Africa. He says that privately owned off-campus student housing is always in demand, so investors looking for a rental property with a constant influx of tenants will find them near institutions for higher learning...


Present your home properly to buyers

It never ceases to surprise him, says Sean McCauley, Rawson Properties director responsible for the northern region of SA, how casual certain home sellers can be about the way in which they present their homes to potential buyers...


>> The winter garden

The aesthetic appeal of a property can vastly affect its perceived value. A home that has kerb appeal and is attractive from the outside will entice potential buyers to step in and have a look...


Don't even start painting before you take transfer

Home alteration is a necessity for many property owners these days as they add offices, surgeries and studios for home-based businesses, or convert space to accommodate expanding families or ageing parents...


Summary of talk on ST Amendment Act and insurance matters

The campaign by the property management company IHFM to "educate" sectional title trustees and sectional title members in all aspects of sectional title was taken a step further recently when IHFM in conjunction with the levy funding and collection company, Propell, insurance advisers Addsure, and law firm BBM law organised their first workshop in Midrand, Johannesburg...


Important Questions you need to ask before buying into an HOA

Gated-communities and private estates have become common place in South Africa mainly due to their perceived feelings of added security and safety. What most people might not realise is that each of these communities and estates are ruled by a Home Owners Association (HOA) that has their own set of rules and regulations with regards to what can and cannot be done...


Focus On

Dullstroom, Mpumalanga, South Africa

Dullstroom is only 2 hours from Gauteng en route to the Kruger National Park and the Gateway to Mpumalanga...

>> Properties in Dullstroom
>> Properties in Mpumalanga


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5. KwaZulu Natal
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10. Limpopo

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In the Area

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

  • Hout Bay
  • Delmas
In the area 1 - Hout Bay

Numerous statements from estate agents to the effect that Hout Bay is an up and coming precinct in the residential property market have gained new credence from the ambitious Cape Metro upgrading programme now under way in this attractive valley, says Lanice Steward, MD of the Cape Peninsula estate agency, Anne Porter Knight Frank...


In the area 2 - Delmas

Infrastructure development in and around Delmas is boosting economic activity in this Mpumalanga town and has led to a shortage of residential rental accommodation...


To the editor

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Local news continue

PMR rules often overlooked

Despite widespread dissemination to sectional title trustees of the Prescribed Management Rules, the procedures by which members' general meetings have to be conducted are quite often ignored...


Estate agents warned on ramifications of CP Act

One "expert" opinion is that the voetstoots clause will not apply if an agent is involved in the sale...


Concourt to rule on evictions

The Constitutional Court will rule on Thursday whether to extend the eviction deadline of occupiers of a building on Saratoga Avenue in a case against the city of Johannesburg...


New South African laws 'may affect real estate investors'

Property investors who own real estate in South Africa and lease it out need to be aware of new legislation being introduced in the country...


What's the score?

Having a favourable credit rating is essential to obtaining the necessary finance to purchase a home. Adrian Goslett, CEO of RE/MAX of Southern Africa, says that this is why consumers should know their credit rating score and how to build it up to ensure that it is looked upon in a positive light by credit providers and financial institutions...


GBCSA: Green Lease Toolkit Launch

The Green Lease Toolkit - The GBCSA, in partnership with SAPOA, are proud to announce the launch of the Green Lease Toolkit at the 44th annual SAPOA International Convention & Property Exhibition, at the Durban ICC on the 30th of May 2012...

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