Weekly Newsletter
Friday, 26 October 2007
Property Search | Estate Agents | List your property

Edition 42 of 2007, Friday, 26 October 2007

Dear Reader

Internationally - I was shocked this week to read about India's biggest real estate baron who made a paper fortune of 500m pound in one single day while a human train of some 25 000 of India's poorest people has been eating, sleeping, walking and washing on the road on a march to the Indian parliament Poor but defiant, thousands march on Delhi in fight for land rights

National - Nedbank Corporate Property Finance (Cape) is funding the R140 million development cost of a new 11 000m2 shopping complex in Cape Town

Interest rates, will it or will it not go up? If the Reserve Bank wants to do its job we will see another interest raise in December and also March next year. Thus economists warns us this week. Not good news for home owners and home owners to be. The market is for sure swinging back to a buy-to-let market as homeowners are starting to sell their properties to rent instead to enable them to cut on their monthly overheads.

This week it seems that some of our articles comes in pairs. We received two tax related articles;

  • Is your tax in order by the ERA Property Group
  • Clearing up capital gains tax by The Times

Last week we reported on the critical shortage of retirement accommodation in South Africa. In response we received two articles

  • Retirement press release from Nationlink Plattekloof
  • Home safety an issue for active seniors by the Chas Everitt International Property Group

Retirement is a concept that most South Africans (and the rest of the world as a matter of fact) do not want to talk about, hear about or think about. It is however, one of the biggest challenges that will be facing the society that we live in, as well as, the economy that we operate in for the next few years, Nationlink Plattekloof

An increasing number of retirees are opting to stay on in their own homes or live with family instead of moving to units specifically designed for senior citizens – but even the most active and healthy of them need to take precautions to avoid household accidents and minimise the risk of injury, Chas Everitt International Property Group

Earlier this year an offering by UCT and Paddocks to previously disadvantaged individuals for the June 2007 UCT Sectional Title Scheme Management Course was placed in our newsletter. This offering is up for grab once again as five scholarships are offered for the next course which starts in December 2007, Scholarships offered for previously disadvantaged individuals in Property Management

In our CyberProp Blog we look at why Hilton is such a popular area for both investors and “lifestyle” buyers.

Enjoy!
The editor


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>> Real Estate News - Poor but defiant, thousands march on Delhi in fight for land rights

On a hot, dusty highway some 40 miles (70km) from Delhi, a human column snakes its way towards the Indian capital carrying a unique message of defiance to the country's leaders: "Give us back our land."

Some 25,000 of India's poorest people - tribal peoples, "untouchables" and landless labourers - have stopped traffic for nearly three weeks on the road that links Delhi and Agra, home to the Taj Mahal. Headed by a group of chanting Buddhist monks, the marchers say they aim to shame the government into keeping its promise to redistribute land...

>> South Africa, Turkey and Dubai set to become new golf holiday hot spots

Spain and Portugal could be overtaken, say tour operators and golf course architects, in two exclusive surveys by KPMG Golf Advisory Services

South Africa, Turkey and Dubai could overtake Spain and Portugal as the most popular destinations for golf holidays, according to two exclusive surveys conducted by KPMG Golf Advisory Services..

>> Is your tax in order?

If you are planning to buy a property, make sure your tax affairs are in order — and make sure you have an exit route from the deal if any other party is not up to date with his taxes.

According to Gerhard Kotzé, CEO of the ERA South Africa property group, it is well known that the SA Revenue Service has been tightening up on delinquent tax payers...

>> Clearing up capital gains tax

Many people have a misconception when it comes to Capital Gains Tax implications associated with the sale of the house in which they reside.

The misunderstanding is that when selling the house in which you reside you will not have to pay any CGT on such sale. While this may be the case for certain sellers, it is not guaranteed that there will be no CGT on the sale of a primary residence...

>> ‘Green’ buildings are value for money

PROPERTY developers who opt for the more expensive “green building” approach may produce longer-term savings by reducing the strain on electricity infrastructure, says Swish Property Group CEO Giancarlo Lanfranchi.

Swish, together with listed property stocks Madison and Redefine Income Fund, is working on a green mixed-use development in Cape Town called Upper East Side...

>> Still time to win a trip to Disney World

Bernhardt and Mandy van Wyk (back), principals of the Chas Everitt International office in Rustenburg, with some of the entrants of the cowboy and cowgirl competitions held at Chas Bear’s birthday picnic in the city.

There’s still time to win a trip for a family of four to Disney World in Florida, USA, in the countrywide competition being run by the Chas Everitt International property group.

The competition was recently launched during a series of picnics held to celebrate the second birthday of the group’s mascot, Chas Bear. The picnics were also part of the company’s community involvement programme and offices around the country invited children for a fun day filled with activities, treats and competitions.

Tracey Everitt of Chas Everitt International says the celebrations were a hit among young guests and their parents and were a great opportunity to show clients what the lucky winner of the Disney trip will be experiencing. “The competition runs until 31st December and all clients who sell their property through a Chas Everitt office are eligible to enter.

“The prize, an all expenses paid trip for a family of four, is worth R150 000 and is being co-sponsored by the home loans department of Nedbank.”

The draw will take place on 3 March next year and will be judged by Watermark Auditors Incorporated. The prize will be valid until 3 March 2009. Terms and conditions apply.

>> Is SA Commercial property still attractive from a global perspective?

The globalization of the commercial property investment market is something that has been gathering pace for the last few years.

This is according to Tony Bales of Bales Delaporte Commercial Property Dealmakers, who says that it is only recently that we have seen the larger worldwide players actually starting to transact on our local shores.

However, the question that remains is are these once-off transactions or is this something South Africans need to get used to..

>> Focus on Riebeek Valley, Riebeek Kasteel & Riebeek West, Western Cape, South Africa

When one of Jan van Riebeeck’s corporals, Pieter Cruythoff, summited the neck of the mountain he was to name Kasteelberg in his mentor’s honour, he would have gazed over a plain filled with wildlife, and early inhabitants.

These early peoples had resided in this ancient area for millennia – a painting above Riebeek West records the view of the wildlife for posterity...

>> View Properties in the Western Cape
>> View Properties in Riebeek Valley

>> Property of the week

Western Cape, Riebeek Valley, Riebeek Kasteel

Bedrooms 4
Bathrooms 2

An unsurpassed position! Sweeping mountain and vineyard views from this magnificent house situated almost at the water's edge. Close to all the village amenities yet private and secluded, this house offers 4 double bedrooms, 2 bathrooms (mes) , a mezzanine TV/family room or study and a huge double volume kitchen/dining/living area with grand fireplace and patio doors which fold back to welcome the stunning surroundings into the embrace of the house...

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>> Buy-to-let properties set for a comeback

Returns from buy-to-let properties have dropped significantly from around the 10 to 12% mark at the peak of the recent property boom, to as little as 2% in some areas and an average of around 4 to 6% countrywide, according to market analysts.

But that’s all about to change says RealNet property group CEO Tjaart van der Walt...

>> Retirement press release

Retirement is a concept that most South Africans (and the rest of the world as a matter of fact) do not want to talk about, hear about or think about. It is however, one of the biggest challenges that will be facing the society that we live in, as well as, the economy that we operate in for the next few years.

These challenges were amongst the topics that were discussed in depth during the first Retirement Communities World Africa conference held in Sandton recently. Representatives of all the different spheres of the retirement industry (Government, NGO’s, PBO’s, Developers, Architects and Marketing Agents) came together with the aim of sharing knowledge and experience, whilst at the same time sharing ideas on formalising the industry to the advantage of all...

>> Home safety an issue for active seniors

An increasing number of retirees are opting to stay on in their own homes or live with family instead of moving to units specifically designed for senior citizens – but even the most active and healthy of them need to take precautions to avoid household accidents and minimise the risk of injury.

They should, says Berry Everitt, MD of the Chas Everitt International property group, also prepare for at least some loss of mobility and dexterity as they get older, and go through their home room-by-room to identify and address potential problems...

>> Scholarships offered for previously disadvantaged individuals in Property Management

The University of Cape Town, Faculty of Law (UCT) together with Paddocks, a specialist property firm, are offering 5 scholarships for previously disadvantaged individuals (PDI) from throughout the country to attend a 6-month distance-learning course in property management.

“With over 600 students having graduated from this course in 24 months, there is no doubt that the property management industry is becoming more professional” says Prof. Graham Paddock, the author of the course. Consumers throughout South Africa now have the power to choose a professional managing agent to look after their most important investment.

Sam Paddock, managing director of Paddock, explains that it is Paddocks’ view that PDIs be given a chance to participate in this exciting industry. One of the ways to empower the previously disadvantaged is through education and the course providers are therefore offering 5 full scholarships for the next course, which begins on the 3rd of December 2007. These scholarships cover all tuition fees, courseware and lecture support worth R7,000.

The UCT Sectional Title Scheme Management Certificate Course is now firmly positioned as the industry’s benchmark course. This course is conducted over a 6 month period and is presented nationally via a combination of distance and contact-based learning. This certification has been promised accreditation by the Estate Agency Affairs Board as a specialist programme in sectional title scheme management, which means that passing students won’t have to repeat their specialist education when the Board introduces their new training programme.

For those interested in the qualification or who would like to apply for the scholarship, please contact Christina on 021 674 7818 or christina@paddocks.co.za for further information.

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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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