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Weekly Newsletter
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Friday, 25 July, 2008
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The phrase "tax haven" conjures a twin image of swimming pools and tedious form filling; of meeting to discuss your financial affairs with a Hawaiian-shirted adviser under a coconut palm. But never before has the package of fiscal inducements that exotic islands offer looked so alluring to wealthy people battered by the current financial markets and looking to shore up their assets in idyllic settings. Whether it be retirees consolidating their pensions, entrepreneurs looking to establish off-shore companies or individuals on the hunt for centres of low taxation, the market is as international as the destinations. The mobile nature of modern-day business has further liberated high-flyers from key commercial capitals...
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| >> Property market feels the pinch - Namibia |
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HOUSE sales in Namibia are slowing down and defaults on bond payments are increasing in tandem with higher interest rates and inflation. Senior bank managers and estate agents say that at the moment there are more houses on the market than buyers, especially in the main centres of Windhoek, Walvis Bay and Oshakati. Nedbank Namibia says this year's floods in the North also played a big role in people's ability to qualify for home loans...
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| >> So near, yet so far - Invest in Israel |
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| >> Australia's example on interest rate fluctuations should be followed |
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Australia's example on interest rate fluctuations should be followed by South Africa, says Greeff Properties MD, Graham Leslie. The SA Reserve Bank has been subjected to a veritable blitz of advice on how the economy should be handled - but it will interest many to know that its apparent determination to fight inflation with increased interest rates runs counter to the latest policy being followed in Australia...
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| >> International real estate transactions dip 46% |
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Investment throughout Asia and other emerging markets continued to grow, as sales of major commercial properties globally totalled $154 billion (Dh565bn) in first quarter against $283bn of property that changed hands in first quarter of 2007, New York-based Real Capital Analytics said in its latest report...
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| >> How low will it go? |
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| >> SA's new property law shocker |
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One of the biggest selling points of commercial property investments is the steady, growing income stream that accompanies a water-tight lease. But a looming new law could change that, with property owners set to have vastly diminished rights. The draft Companies Bill looks "scary", say senior figures in the real estate sector...
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| >> Hard hit property market calls for a pause in rate hikes |
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Questionable CPIX statistics strengthen the case for maintaining or even decreasing interest rates at the next Monetary Policy Committee (MPC) meeting in August. Such a move would ease pressure on bond repayments for hard hit homeowners. Gerhard Kotzé, CEO of the ERA South Africa property group, says that based on the debate surrounding the CPIX stats, there is seemingly a very real possibility that bond rates are unjustifiably high...
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| >> South African property market deteriorates further - survey |
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JOHANNESBURG (Reuters) - South Africa's property market has deteriorated further than expected on the back of higher interest rates, a survey by First National Bank (FNB) showed on Monday. Official interest rates have gone up by 5 percentage points since June 2006, putting pressure on household finances and adding to the stress of higher inflation, which hit a 5-1/2 year high in May, and soaring fuel prices...
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| >> Property moves fast in Sea Point |
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To top it all, the buyer, who snapped it up via an sms, had not even seen it. The 29m² pad, which has no kitchen or parking bay and which was previously used as “staff quarters”, was sold for a “bargain” R425 000 recently...
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| >> My First house -John van der Ruit |
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With his colossal success as South Africa’s new best-selling author, you would expect John van de Ruit to have his head in the clouds. Quite the contrary, he seems to have his feet firmly on the ground – and in his first house, to boot...
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| >> Auctions are not always the ideal way to sell residential property |
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The increased popularity of auctions as a way of selling a home has been achieved, at least partially, by obscuring some of the facts relating to this method of home marketing, says Lanice Steward, MD of Anne Porter Knight Frank...
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| >> Commercial property yields on the rise |
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The slowdown of the commercial property market has started to take effect and yields on commercial property investments have started to rise. This is according to Tony Bales of Bales Delaporte Dealmakers who says that it was less than 18 months ago that a fixed property could not be found to invest in, yields on commercial property were around 8% and the listed property sector was at an all-time high offering forward yields of around 7%...
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| >> Retirees are re-inventing family homes |
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“Now, instead of bemoaning the fact that they are knocking about in a too-large home, seniors are revelling in the fact that they have space to accommodate hobbies and interests that had to be put aside while they brought up their families,” says Berry Everitt, MD of the Chas Everitt International property group...
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| >> News from - South Coast properties: Pat Symcox – director, Colliers International KZN |
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PAT SYMCOX: Hi Alec, good evening, and to the listeners as well. Yes, certainly there's no doubt there are some major projects and major developments happening. And you're right, over the last couple of years that has been a poor cousin. I think just before the National Credit Act came into play and we started to get the financial squeeze on all of us one sensed there was a boom opportunity happening - and there are a couple of major projects that are just bubbling...
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| >> Letters to the editor |
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This weeks letters to the editor; Reader: As far as I am aware all the water and lights bills for the servants
quarters are paid by the Body Corporate,so this gentlemen is receiving
free accommodation. He is also employed but not by the body corporate. Your advice in this matter would be greatly appreciated. The editor: Ronald, I have asked a management agency, Championz, for their response. Lets see what answer they send us Championz: Dear Reader I would like some professional words regarding a few questions I have: Thank you, The Editor: To purchase to sub-let is not always the answer when looking at Mike's questions. To respond on this letter email news@cyberprop.com |
| >> Focus on Sea Point, Western Cape, South Africa |
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View Properties in Sea Point
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| >> Property of the week |
Search for property in your area |
| >> BetterBond's tips to home buyers and sellers |
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Finding Your New Home Your first decision is where you want to live – location is extremely important for many reasons, such as proximity to your work, schools and shopping centres. Then you need to decide on your requirements in terms of size, the amount of bedrooms, secure parking, garden, swimming pool, security etc. Once you’ve decided where and what you want, and how much you can afford, then it’s time to start looking. So many properties are now advertised on the Internet. With just a few clicks of the mouse, home buyers can search through hundreds of online listings and view virtual tours. Call estate agents that work in that area, give them your requirements and let them arrange for private viewings. Drive around the area on Sundays and view the show houses. Find out how long the house has been up for sale. If it has been on the market for a while, there may be a problem with it, or it might be over-priced. Don’t settle for second best. Some agents are so keen to close a sale that they don’t necessarily have your interests at heart. The property may appear to be a great investment to them, as a ‘fixer-upper’, but you may not have the budget or the time to make the renovations needed. Try to rate each property you view. Once you’ve seen a few houses, you’re likely not to remember specific details about any of them. Bring a digital camera and take photos of the features you like and dislike in each house. Take copious notes of unusual features, colours and design elements. Pay attention to the home’s surroundings. What is next door? Try to find out a little about the neighbours. Is there empty land bordering the house? There is normally a higher incidence of crime and insurance costs are higher. Immediately after leaving, rate each home on a scale of 1 to 10, with 10 being the highest. Then arrange to view your top choices a second time. At this point, your agent should call the listing agents to find out more about the sellers’ motivation and to double-check that an offer hasn’t come in, making sure these homes are still available to purchase. On the second viewing, take your time. You’re the potential buyer and you should be allowed to check out the property carefully. Check the boring stuff as well: the roof tiles, the guttering, the condition of cupboard doors, check for cracked walls or recently repaired cracks. Turn on the taps and flush the toilets. Try to imagine yourself living there. Think about whether your furniture will fit. If it feels and looks right and the price is right, put in an offer to purchase. You will know when you’ve found the right home. Article by: Cheryl Marais – Direct Marketing Manager - Betterbond
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| >> Software at its best! |
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 |
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For Sale Property: To Rent Property: |
Motti
Kirschenbaum is a real-estate entrepreneur who pioneered an idea in Israel,
which he called Airport City. The concept was relatively well-known in
Europe, especially in the UK, but it was not very well-developed in this
country. It meant developing a business park with a unique location and
optimum size...
Credit
crunch and economic uncertainty have taken their toll on the global property
market, with transaction volumes falling by 46 per cent in the first quarter,
according to a property report.
The
residential housing market is facing a countrywide drop-off in sales volumes
of about 35 percent while average house prices have fallen by approximately
10 percent year-on-year (albeit not in all areas). How long will this
continue? Three heavyweights from the Rawson Property Group weigh in on
this contentious issue... 
If
you think land grab law looks ugly, look at what new Companies law will
do to your property "investments". Full details
Some
South Africans may be battling the current tough property market, but
one Cape Town seller took a mere 10 minutes to flog a tiny Sea Point apartment.
In
South Africa you have to sell a minimum of 5 000 copies of a book in order
for it to be considered a best seller. But when your sales exceed 200
000, you become an overnight literary sensation.
Denis
Delmage with wife, daughter and bottle of sparkling wine. Thanks Denis
for sending in your response.
Sea
Point is a lively suburb lying between Mouille Point, Green Point and
Bantry Bay. Upper Sea Point, on the slopes of Signal Hill is characterised
by expensive, private villas whereas towards the sea, luxury beachfront
and self-catering apartments line the promenade. In between the two, lies
Main Road, with a seedy reputation, cheaper accommodation and a vast selection
of shops, bars, clubs, and restaurants. It is cosmopolitan suburb that
is bustling 24 hours a day...
