Property News |
25 November 2011
Let the truth be told! This was the power of the media which is no longer there after black Tuesday this week when the National Assembly passed the Protection of State Information Bill on Tuesday. According to the spokesperson from the start the Bill was a security bill and not a media bill. "It is firmly in line with best International practice as states have constitutional obligations to protect their people and territorial integrity." Moloto Mothapo said.
Best we move our interest on to the International scene this week;
- Australian homes targeted by property scam
- Why South African should invest in property in Mozambique
Headlines: The tough economic environment and high consumer indebtedness levels have led to the value of non-performing home loans at local banks increasing to an estimated R25 billion to R30bn. This excluded distressed commercial properties and property developments, Auction Alliance chief executive Rael Levitt said on Friday. He said the estimated value of non-performing loans was 20 percent higher than in 2009, when distressed property sales were peaking. Levitt attributed this to the value of transactions being higher because many banks assisted debtors with delayed and extended repayment terms. "The market is in greater stress now than it was in 2009." Value of distressed home loans rises 20%
Market news: There were signs that the stable residential rental payment trends during the past 18 months were becoming increasingly fragile, TPN credit bureau warned yesterday.TPN's latest rental payment monitor revealed that 80 percent of residential tenants were in good standing in the third quarter, virtually unchanged for several quarters. It showed that 66 percent of tenants paid on time, 14 percent paid late, 9 percent made a "part payment" and 11 percent "did not pay". Credit bureau warns of fragile property rentals
Property Count: 25/11/2011|
| Value of distressed home loans rises 20%|
The tough economic environment and high consumer indebtedness levels have led to the value of non-performing home loans at local banks increasing to an estimated R25 billion to R30bn...
|The property market 2012|
The past four or so years have seen mammoth changes in trading conditions and economic stability the world over. However, despite numerous international economic crises, during 2011, the South African property market adjusted back to some sense of normality. The last three years, says Peter Gilmour, Chairman of RE/MAX of Southern Africa, have changed the face of real estate on a local level forever.
|Five Great Things about Homeownership|
If you've been on the fence about homeownership, now is the time to take a leap! Don't let the negative press deter you from one of life's greatest joys...
|Taxpayers respond to tax-free property transfer offer|
Taxpayers have shown a greater interest in the recent opportunity to transfer residences from companies, close corporations (CCs) or trusts into their names tax-free than they expressed 10 years ago when tax authorities made the same offer...
| CT mansion on sale for R98m|
One of the countrys most expensive residences of all times, a grand neo-classical mansion in Cape Town's Bishopscourt, is for sale for a cool R98-million...
|Property fund adds to assets|
Plans to reinvest in upgrades and tenant-driven expansions, acquisition at Raceway Industrial Park in line with investment property strategy...
|How to ensure a good holiday home investment|
With many South Africans bound for the countrys top leisure destinations in the coming month, Adrian Goslett, CEO of RE/MAX of Southern Africa, looks at holiday home purchase potential and advises buyers how to ensure their investment is a good one...
|Sole mandates explained|
The age old debate of whether or not to sign a sole mandate continues as many sellers feel that by commissioning only one agent to sell their property they may be putting all their eggs into one basket. Adrian Goslett, CEO of RE/MAX of Southern Africa, explores the benefits of a seller signing a sole mandate...
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the Area |
The areas we are going to take a closer look at
this week are;
the area 1 - Cape Town|
CT battling with housing
The City of Cape Town is battling to keep up with an increasing demand for housing, executive mayor Patricia de Lille said on Wednesday...
|In the area 2 - Paarl|
In today's paarl market, attractive residential rents can make it "logical" to rent - but shrewd investors are now growing their portfolios...
|Local news continue|
|ST landlords carry full responsibility for their tenants' conduct|
With bond finance countrywide still limited to about 55% of applicants, property analysts (including John Loos of FNB and Bill Rawson of Rawson Properties) have recently predicted that demand for rental homes will rise, that buy to let investing will increase over the next 12 to 24 months and that returns on residential property currently averaging about 5,5% will go up...
|Will the voetstoots clause become redundant|
With the Consumer Protection Act now making it even more essential that the seller of a home declare openly any defects of which he is aware, it has been said by some estate agents that the voetstoots clause is now becoming redundant: the repair of almost any defect in the home discovered after the transfer of the property can, it has been said, now be claimed for...
|Freeflow Water Free Urinal Valve to be supplied by Massbuild|
Sannitree Internationals Freeflow Water Free Urinal Valve, for which patent (No 2010/08151) is now pending, has been listed and will be stocked by selected stores in the Massbuild group, including Builders Warehouse and Builders Express....
|Climate change threatens South African farmers|
Climate change and erratic weather patterns are a major threat to South Africa's farmers, Business Day newspaper in Johannesburg reported on Monday, ahead of the Nov.28 Dec.9 United Nations climate change summit in Durban...