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21 June 2013

 
FROM THE EDITOR

South Africa’s listed property sector declined during the week ending 14 June 2013, despite a fairly stable Rand and a moderate reduction in long bond yields. Read more in Listed property sector vulnerable in the short term.

In Q1 2013: Global housing markets now in full scale boom, we read that a dramatic picture of house prices rising around the world is revealed by the latest Global Property Guide house price survey, for the year to the 1st quarter of 2013.

The FNB Property Barometer for May 2013 also indicates that South African residential property showed year-on-year growth of 5.8% with the average value of homes transacted in the FNB House Price Index being R855, 773. A lot of figures, but they all essentially indicate the same thing – residential property prices in South Africa have been on the increase. Read more in The Property Market: not flying but neither is it flat.

Did you know that, if you are a home owner with a mortgage bond and you want to sell that property, you'll have to give the banks three months’ notice of your intention to cancel your bond and if a notice is less than three months, you will almost certainly have to pay a penalty, which can be as much as a full three months of bond repayments? Find out how you can avoid that sticky situation on "Unjust" penalties to be paid for bond cancellations within stipulated three month period.

How to deal with tenants who do not pay their rent on time or do not pay at all? We've got tips and advice on Non-paying tenants.

Enjoy!
The editor

In This Issue
Property of the Week

Durbanville, Western Cape- South Africa
This Tuscan style designer home will leave you breathless! An impressive double volume entrance welcomes you into this gracious home.


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News

South Africa's current political unrest may cause problems down the line
While it is true that confidence in the South African property market has always been affected by global economic trends, the local political scenario usually proves to be far more influential...

Listed property sector vulnerable in the short term
South Africa’s listed property sector declined during the week ending 14 June 2013, despite a fairly stable Rand and a moderate reduction in long bond yields...

The Property Market: not flying but neither is it flat
In 2012 property economist Erwin Roode made a few waves with his statement that property prices were overvalued by at least 25 percent...

Q1 2013: Global housing markets now in full scale boom
A dramatic picture of house prices rising around the world is revealed by the latest Global Property Guide house price survey, for the year to the 1st quarter of 2013. This is the most significant global acceleration in house prices since the boom years of 2006/7...

Global index shows Hong Kong leads house price increases
Knight Frank’s global house price index confirms that average prices rose 6.6% in the year to March, the highest rate of growth since Q2 2010. Kate Everett-Allen assesses the potential for future growth...

German real estate company expanding in South Africa

German real estate company, Engel & Völkers is furthering its growth path in South Africa and plans to expand its presence in the country from 40 to 140 locations, while also targeting Africa’s developing economies...


Strong demand for property from Nigeria

With the Rand hovering around the R10 to the US Dollar, property in South Africa has become a real bargain...


Technology plays a Pivotal role in Real Estate Sector
It’s irrefutable that the internet and digital media tools continue to change the way we do business, as it plays a pivotal role in the Commercial Real Estate Sector from brokerage to asset management...

Auctions back on the agenda

AUCTIONS are back in vogue in the inner-north, with local real estate experts saying it signals buyers confidence is on the up...


"Unjust" penalties to be paid for bond cancellations within stipulated three month period

A high percentage of home owners with mortgage bonds on their properties are not aware that when they sell these same properties, they have to give the banks three months’ notice of their intention to cancel their bonds...


Ensure that stipulated SARS withheld sum is fully paid if buying SA property from non-resident
SARS have stipulated, since 1st September 2007, that any person who has acquired property from a non-resident since that date has been required to withhold a portion of the sales sum paid to the seller...

Safe and sound

The reality is that accidents do happen, which is why it is important that homeowners are prepared for any emergency situation should it arise...


It is almost always better to buy than rent

The buying versus renting debate has been highlighted several times over the past three years amidst continued subdued average house price and value growth. Most property economists are of the view that it is better to rent and wait for the market to turn before buying again...

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Focus On

Durbanville, Western Cape - South Africa

In 1825 a group of Tygerberg farmers requested permission from Lord Charles Somerset (the district governor of that time) to build their own church. The Dutch Reformed Church was commended in 1825 and inaugurated a year later. A small village grew between the church and the outspan and was called Pampoenkraal, now known as Durbanville...

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Property News Continue

Owners must take an interest in their scheme
When owners of sectional title units do not take an interest in the running of their body corporate certain problems can creep in, some as serious as overly large municipal bills, which can actually lead to the insolvency of the sectional title scheme...

Advice for DIY landlords

If the property is not maintained properly or the occupancy of the unit not kept at a steady rate, the investment profitability or, even viability, is lessened...


Non-paying tenants

Tenants who do not pay their rent on time or do not pay at all, have become a big problem...


Van Niekerk named as new Fountainhead CEO
Former South Africa Corporate Real Estate Fund MD Len van Niekerk has been appointed by Redefine Properties as CEO of Fountainhead Property Trust...

Impressive milestones await SAPOA’s new President

SAPOA is to deal with an increasingly complex regulatory environment, and currently, there’s around 50 proposed pieces of legislation on the table that will directly or indirectly affect SA’s commercial property industry...


Global Green Building Convention – early bird closes 30th June

Be a winner. Be an Early Bird...


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Tivvit Property Count 21/06/13

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Properties for Sale: 103,548 
Properties to Rent: 10,887


"This is not advice. Clients should not act solely on the basis of the material contained in this newsletter. Items herein are general comments only and do not convey advice per se. Also changes in legislation may occur quickly. We therefore recommend that formal advice be sought before acting in any of these areas."

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