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28 March 2013

 
FROM THE EDITOR

The Easter bunny is knocking on our doors! Easter is a time of celebrations and loads of fun. It’s also a time for most of us to take a break from work. Whatever you will be doing this weekend, enjoy it and drive safely!

According to the latest oobarometer report, the average purchase price of homes in South Africa has gone up 5,2% year on year, and, according to Rhys Dyer, COO of ooba, "The property market is gaining confidence and we expect property prices will continue to show positive nominal price growth for the year ahead.”

“Brics countries could play a significant future role in raising the level of foreign interest in South African residential property,” says Christie’s-affiliated luxury homes marketer Ronald Ennik.

“The recent increased flow of visitors to South Africa from fellow Brics member countries (Brazil, Russia, India and China) has already cranked up the awareness within that bloc of the investment opportunities on offer in our residential property market”, read more in Brics Summit will raise awareness of SA homes market

In Sectional Title News this week, Michael Bauer, general manager of IHFM advises landlords to initiate legal action as soon as possible to avoid months of lost income if he they find themselfs in a situation where a tenant is not paying his rent. Read more in What to do if tenants do not pay rent

In Focus On this week we take a closer look at George, the sixth oldest town in South Africa, situated in the beautiful Western Cape Province and is the Capital of the Southern Cape.

Enjoy!
The editor

Property of the Week

Wilderness, George, Garden Route
Situated in the heart of the Garden Route, surrounded by indigenous trees, large open plan living area...


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News

ooba figures show improvement in market
According to the latest oobarometer report, the average purchase price of homes in South Africa has gone up 5,2% year on year, and, according to Rhys Dyer, COO of ooba, "The property market is gaining confidence and we expect property prices will continue to show positive nominal price growth for the year ahead...

TPN Residential yield data
Residential property gradually recovering its attractiveness as an investment, and 2013 expected to bring more of it?

Brics Summit will raise awareness of SA homes market
“Brics countries could play a significant future role in raising the level of foreign interest in South African residential property,” says Christie’s-affiliated luxury homes marketer Ronald Ennik...

Real estate investment trust legislation to be introduced in April
After more than six years of preparation, South Africa is entering a “new era” as the National Treasury introduces the new Real Estate Investment Trusts (Reit) regime on April 1...

'Slums growing uncontrollably'

The growth of informal settlements compounded the problem of meeting the demand for housing, Human Settlements Minister Tokyo Sexwale said on Tuesday...


Hot tips for the property sector
Throughout South Africa there is a new interest and a flurry of activity surrounding residential property – and the prospect of making profits from it...

A New Leaf for the EAAB?

In what is hopefully a fresh start, Minister of Human Settlements, Tokyo Sexwale, recently announced the new board of the Estate Agency Affairs Board...


What collaterals banks could find acceptable for bond applicants
Mike van Alphen, National Manager of Rawson Finance, the Rawson Property Group’s bond origination division, is currently involved in a research exercise to establish what collaterals, if any, the South African banks might accept from mortgage bond applicants...

Consolidation of sectional title units is permitted by law

The growing popularity of sectional title apartments for those who want a safer, less complicated lifestyle has, says Johalna Minnaar, National Sales Manager for the Rawson Property Group...


What to do if tenants do not pay rent
If a landlord finds himself in a situation where a tenant is not paying his rent, then it is best to initiate legal action as soon as possible to avoid months of lost income in rent, says Michael Bauer, general manager of IHFM, the property management company...

Functions and powers of body corporates
Throughout the South African sectional title property industry, problems arise regularly because body corporates are not fully aware of the extent of their functions and powers – and quite often fail to exercise them as the law requires...

Trustee nominations and elections
It is sometimes very difficult to motivate owners to make themselves available as trustees in sectional title schemes, says Michael Bauer, general manager of IHFM, the property management company...

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Focus On

George, Garden Route, South Africa
George is the capital city and geographical hub of the world renowned Garden Route and provides access to the Garden Route Hinterland of the Klein Karoo...

>> View properties in the Garden Route
>> View properties in George


In The Area

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

  • Kuilsriver
  • Boksburg
Kuilsriver on the move
Kuilsriver, one of the fastest growing residential nodes in the Western Cape, is drawing a wide range of homebuyers thanks to affordability and sound infrastructure...

Boksburg residential market lifts head
Buyers' confidence in Boksburg's residential market is growing and property sales are consequently picking up speed...

News Continue

Recognise the importance of appointing a competent managing agen

The appointment of a managing agent is one of the most important decisions that trustees of a body corporate can make, says Bill Rawson, Chairman of the Rawson Property Group...



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"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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