Weekly Property News
Friday, 30 April, 2010
FROM THE EDITOR

Dear Reader

'You are not paying attention' State prosecutor Gerrie Nel said to Mr. Selibi in the High Court in Johannesburg during Selebi's corruption trial. Selebi replied: "Mr Nel, I listen with my ears, not my eyes," Is this what you do as a potential home owner? Do you listen with your ears or with your eyes? Or should I rather ask, do you listen with your heart?

Market news: South Africa’s financial institutions have taken the brunt of the blame for not approving more mortgage finance, which many believe would go a long way to further stimulating trade within the property market. However, with South Africa’s debt-to-income ratios still at a very high level, affordability remains a primary consideration that is weighed up before finance is granted. The bank’s criteria in the evaluation of an applicant remains around the affordability and the risk of the applicant when it comes to the repayment of a long term loan,” says Rudi Botha, CEO of Betterbond. “The ruling that a maximum of 30% of the gross salary may be used for the monthly repayment of the home loan installment has been around even prior to the inception of the National Credit Act (NCA), and it is still applicable today.” Key criteria for home loans

Headlines: Estate agents across South Africa are reporting an increase in interest from the USA in the local residential property market. "Every month people from over 170 countries around the world view properties on our website," comments Dr Andrew Golding, CE of the Pam Golding Property group. "Interestingly, what we have noticed currently is a dramatic increase in the number of website visits from the United States of America to the extent that this group, in terms of foreign interest, is now only second in number to the amount of visits we receive on our website from those in the UK. USA starting to love SA

Enjoy!
The editor

In This Issue
Featured Property
Western Cape, Plattekloof

Inspiringly modern home with breathtaking views and exceptional quality. Two for the price of one! Multi Level masterpiece for two independent families...

 
Local News

USA starting to love SA

Estate agents across South Africa are reporting an increase in interest from the USA in the local residential property market...


Key criteria for home loans

South Africa’s financial institutions have taken the brunt of the blame for not approving more mortgage finance, which many believe would go a long way to further stimulating trade within the property market...


Good buy opportunities in the SA property sect

Right now, says Mike Flax, the Executive Director of Redefine Properties responsible for acquisitions and mergers, the South African property sector presents companies like Redefine with a scenario that is extremely favourable for accretive deals capable of enhancing a property company’s bottom line...


Politics, economics drive property value in the global world

In a world buffeted by economic meltdown and ongoing globalization, the value of South African property lies just as much in building political stability and realising economic potential, as in generating income streams or cutting vacancy rates...


Light up your home sale prospects

When preparing their home for a show day, long-time owners can easily miss one of the most important factors in creating a great first impression on potential buyers: good lighting...


Home buying horror tales

When buying a second-hand car most people will have it checked by the AA or a mechanic to make sure it is in good working order. This is however not always the case when buying a property; one of the most expensive purchases you can make...


Advice to property sellers

Property sellers must insist on a deposit being paid in the sale agreement and ensure that the buyer pays the full deposit - as soon as the agreement is concluded and the deed of sale signed...


Get a dishwasher, it’s eco-friendly

Most people find it hard to believe that dishwashers generally use much less water than it takes to wash dishes by hand, but several studies have shown this to be true, including those done by the Waterwise organisation in the UK and the University of Bonn...


The way forward according to Absa and Fine & Country

At a recent Fine & Country property development launch, Senior Absa Property Analyst Du Toit said the dramatic decrease in employment and production of the past year had a proportionally negative affect on South Africa's household sector...


Private verses Agent

Savings in commission are an incentive to sell a home privately but the decision of whether or not to use an estate agent should be carefully considered...


Cape Town's ugly buildings

You don't exactly spot ugly buildings, especially large ones, they kind of assault you from a distance, bearing down on you as you get closer until thankfully you're too close and can't see it anymore...


Buying a home together

Even though statistics reveal that more and more unmarried couples are buying property together, few of them are aware of the legalities around it...


News from Tony Bales

SA commercial property market taking the smooth ride to recovery

After many decades of weathering boom or bust rises and falls, it appears that South African Commercial Property investors can now sit back and watch the more developed economies dealing with unfamiliar cycles in their property markets – unfamiliar to them that is...

CyberProp Property Count: 30/04/2010

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Properties for Sale: 135,726
Properties to Rent: 10,029


Focus On

Focus on Cape Town, Western Cape,
South Africa

2010 FIFA World Cup™ fever in Cape Town & Western Cape

The world is coming to us and the excitement in Cape Town is palpable. For the locals, the 2010 FIFA World Cup™ goes beyond the football – it ignites our sense of pride in all the Western Cape has to offer and we can’t wait to knock your football socks off with the adventures that await you here...

>> Propert in Cape Town
>> Property in the Western Cape


Search For Properties

1. Western Cape
2. Garden Route
3. Northern Cape
4. Eastern Cape
5. KwaZulu Natal
6. Free State
7. North West
8. Gauteng
9. Mpumalanga
10. Limpopo

Search for property in your area

Enter City/Suburb:

In the Area

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

  • Lamberts Bay
  • Kroonstad
  • Steenberg Golf Estates
In the area 1 - Lamberts Bay

The picturesque West Coast village of Lamberts Bay started with humble beginnings as a fishing village. This seaside town has blossomed into a tranquil West Coast getaway destination, and is often thought of as the seafood hotspot of the West Coast...


In the Area 2 - Kroonstad

Aida National Franchises has reopened a real estate office in Kroonstad.

The franchise has been awarded to Pierre Boucher, owner of the well-established Aida franchise in Parys...


In the Area 3 - Steenberg Golf Estates

Steenberg's upgraded security places it in a league of it's own

A recently completed R9 million security upgrade to the Steenberg wine and golf estate has made this 104ha precinct one of the securest residential areas in South Africa...


To the editor

Will it or will it not? I’m still not sure what the impact of the World Cup 2010 will have on the property industry. Do you? We’ve asked you to send us your viewpoint.

Results:

67% - World Cup 2010 will have no impact on the property industry

33% - World Cup 2010 will have an impact on the property industry

Send your viewpoint to news@cyberprop.com

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