Weekly Property News
28 January, 2011

Dear Reader

All eyes are on old President Nelson Mandela who was admitted to the Milpark Hospital in Johannesburg for some routine tests. “It is a well-known fact that Madiba is 92 years old and no longer a young man. As South Africans, let us all allow doctors at the hospital to do their best in conducting tests on our elder statesman," the ANC said in a statement. Furthermore pleading with South Africans to stop speculating about his death.

Headlines: According to Rodney Luntz, Managing Director of the High St Property Co: “The industry is witnessing an interesting phenomenon due to the prevailing economic conditions, as low interest rates are not bringing about the massive uptick in sales or leasing that everyone was hoping for in 2010,”. “With global economic uncertainty set to continue into 2011 caution will remain the name of the game even though interest rates are at their lowest levels in over a decade. A contributing factor to pedestrian growth in the commercial sector is the limited access to finance.” A 'back to basics' approach for 2011

Market news: Prices in the luxury upper end including leisure properties at the coast and golf estates are expected to remain weak throughout the year with some distressed units selling below replacement value. This according to Dieter Deppisch Head: Property Data Research, SAPTG. Insight, hindsight and foresight: 2011 from SAPTG

Beginning 2011 and it’s not only the real estate industry that made the headlines. Certain supermarkets, including Pick ‘n Pay, was found to be fixing prices. This investigated and found to be true by the Competition Commission after complaints were received about rising food prices. Over the last few weeks we asked our readers and www.cyberprop.com users to vote for their most trusted real estate company. Harcourts South Africa came up tops with 1774 votes.

The editor

In This Issue
Featured Property

Garden Route, George,
Fancourt Hotel & Country Estate

Duplex: Bedrooms: 3 | Bathrooms: 4
This exquisite duplex situated below Boyes Drive comprises of 3 bedrooms(2 main en-suite),4 bathrooms,fully fitted kitchen,4 reception rooms...

Local News

A 'back to basics' approach for 2011

The underlying economic factors that reigned in commercial property in 2010 will continue into 2011, despite a low interest rate environment and an oversupply of stock...

Insight, hindsight and foresight: 2011 from SAPTG

The inexact science of foresight provides an appropriate backdrop to our look ahead for South Africa’s real-estate sector in 2011...

Buyer still calling shots

The fourth quarter FNB Estate Agent survey continues to depict a market tilted in favour of those buyers with financial resources at their disposal...

More Africans live in paid up homes

Far more Africans live in fully paid-up homes than is the case with other race groups, says the South African Institute of Race Relations...

Low end buy to rent most profitable sector

The latest FNB property survey has confirmed what he has been saying for some years, i.e. that the low end of the buy-to-let market is the fastest growing sector in property and the one most capable, with good management, of giving the best returns...

Get serious about saving for a deposit

If you’ve already taken the big decision to stop renting and buy a home of your own this year, the next thing you’ll need to work on is saving a deposit...

Paying the right price for a property

How does a homebuyer know if he is offering the right price for the property in which he is interested?

How to determine the real market value of your home

The best way to increase your chances of a successful sale is to ensure that your property is priced correctly right from the start, says Adrian Goslett, CEO of RE/MAX of Southern Africa...

Security is closely linked to perceived property values

A safety rating of the suburb in which you would like to invest in won’t come with your new home’s inspection report – it is up to you to check out the area before you invest, says Adrian Goslett, CEO of RE/MAX of Southern Africa.

Buy a home you can love

When you go shopping for a new home, it’s important to buy one that’s loveable as well as good value for money...

Business recovery legislation to have major impact on the auction industry

Imminent changes to the South African Companies Act will usher in business rescue and are likely to have a big impact on the auction landscape...

Make your estate more neighbourly

It’s awful to be on bad terms with your neighbours – and even worse if they are members of the same Home Owners’ Association as you, and you are expected to work together to run your gated community...

Cape Town becoming 'By-law City'

The City of Cape Town may as well be called "By-law City", with the DA turning it into a "Little Monaco" for the elite, an ANC councillor has charged...

How to pick a great estate agent

Although sales activity in the property market has picked up recently, it is still at much lower levels than before the recession, making it all the more important for home sellers to pick a great estate agent to help them get their property sold...

Managing agent responsibilities defined

With most of South Africa’s sectional title schemes now approaching their financial year end (with an end of February deadline) and preparing their audited financial statements for their annual general meetings, the question of whether a managing agent should be appointed or whether the current managing agent should be changed is likely to raise its head again...

Levy increases of up to 10%

Many trustees of sectional title schemes, says Michael Bauer, General Manager of the specialist sectional title management company, IHFM, in his latest weekly sectional title newsletter, are not aware that at the end of their financial year they are, in terms of Prescribed Management Rule 31 4 (a) automatically allowed to increase members’ levies by up to 10%...

Sectional Title Act makes it possible to change conduct rules

Trustees of sectional title bodies corporate are often under the impression that the Conduct Rules governing their schemes, registered when they were originally established, are cast in stone and unalterable - no matter how inconvenient or awkward they may be for members - but this is not the case...

Focus On

Muizenberg, Western Cape, South Africa

A combination of mountain, beach and vlei, this town near Cape Town offers much in the way of accommodation, restaurants and other amenities. It has long, sandy beaches, safe bathing, pavilion, esplanade, amusement park and swimming pools...

>> Properties in Muizenberg
>> Properties in the Western Cape

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In the Area

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

  • Tshwane
  • Muizenberg
  • Cape – Southern Suburbs
In the area 1 - Tshwane

Tshwane property market a star performer

The property market in Tshwane has emerged from the past two years of uncertainty as one of the country’s strongest performers and is now firmly in recovery...

In the area 2 - Muizenberg

Muizenberg still offers exceptional value to the middle and lower middle income buyer

Muizenberg, which in the Edwardian era ranked as one of South Africa’s most prestigious and upmarket holiday resorts (for many years the peninsula rail line ended there) can today offer an exceptionally wide variety of residential properties and almost of all...

In the area 3 - Cape Town Southern Suburbs

Clear signs of increased optimism in Cape Town's Southern Suburbs residential market

Many Cape Town estate agents will tell you that it is hardly worth their while to keep their offices open during the Christmas/New Year period...

To the editor

Share your comments with us by sending it to news@cyberprop.com

News from IHFM

Make sure a proper check is done on new tenants

While he is wholly in favour of landlords using managing agents to monitor and control tenants, every landlord should be aware of the checks that it is essential to implement before a tenant is signed up...

Local News Continue

Insurance issues on sectional title schemes

Trustees of sectional title schemes tend to be contentious and argumentative over insurance matters, believing, wrongly, that all insurance costs should be paid by the body corporate...

Your rights as a tenant

Renting a home can be full of risks if you don't ensure that you understand your rights and obligations as a tenant...

Wendy Machanik breaks her silence... Bitter, sad, betrayed

Wendy Machanik has finally broken her silence amid claims she defrauded the trust fund of one of South Africa's top estate agencies of millions of rands...

Real estate industry is tightly regulated

The problems now being experienced by Wendy Machanik Properties, which is under investigation by the Estate Agency Affairs Board for alleged misuse of trust funds, have strengthened the perception in some people’s minds that residential real estate agencies are unregulated and, therefore, attractive to fly-by-nights and those who are prepared to sail close to the wind – but this is definitely not the case...

CyberProp Property Count: 28/01/2011

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