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22 February 2013


President Jacob Zuma addressed Parliamentary members and South Africa last Thursday for his State of the Nation Address. Reactions to his address were mixed, with many disappointed in the speech’s lack of detail.

Of interest to the property sector was the R1bn guarantee fund to promote access to loans for people earning too little to qualify for home loans and too much for RDP homes that will start working in April.

Berry Everitt, MD of the Chas Everitt International property group, notes that this scheme (more properly called the Finance-Linked Housing Subsidy Programme) promises to open up housing opportunities to hundreds of thousands of people.

Adrian Goslett, CEO of RE/MAX of Southern Africa, says that in order to continue to improve the basic living standards of South Africans, a much stronger economy is needed if government is to sustain the ambitious National Development Plan that aims to create over 11 million employment opportunities by 2030.

Lew Geffen, chairman of Sotheby’s International Realty in SA, notes that at the macro level, both foreign and local investors will have been pleased to hear the President say categorically that the debate over nationalisation of the mines has been “laid to rest”, and also that government, labour and the mining companies have reached an agreement to strengthen social stability and actively contribute to community upliftment in mining towns around the country

The editor

In This Issue
Property of the Week

Roodewal, Bloemfontein, Free State
Country living a stone's throw from the city.

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News on gap subsidy positive for property
From a real estate point of view, the most exciting aspect of President’s Jacob Zuma’s State of the Nation speech this week (subs: 14 February) was the news that the long-awaited “gap” housing subsidy scheme is now under way and gathering steam....

Comment from Adrian Goslett, CEO of RE/MAX of SA, on the recent State of the Nation Address
The State of the Nation Address made by President Zuma last week had a strong focus on tackling socioeconomic problems such as poverty, inequality and unemployment in order to create an environment where access to basic services such as water, electricity and sanitation is a minimum standard...

State of the Nation 'encouraging' for property
The State of the Nation speech delivered by President Jacob Zuma this week (subs: 14 Feb) contained several items of encouraging news for SA’s property industry...

This is Zuma!
My first impressions of the State of the Nation Address by the president were of a much more self-confident and stronger leader...

International property trends and hot spots
While property markets in Asia, North America and Latin America are trending in the right direction and are expected to see solid growth in the year ahead, many European property markets are expected to face some challenges...

Looking for value in residential property in 2013
While there is a great deal of mixed sentiment in the property market at the moment, according to Aucor Property there are still opportunities for investors in 2013, if they know where to look.

Listed property outperforms bonds

South Africa’s listed property sector gained 1.4% during the week ended 15 February 2013. Since the start of the year, both the listed property sector and the FTSE/JSE All Share Index have returned 3.7%, while the bond market has returned just 0.6%...

New municipal rates lead to many queries - but the most pertinent issue is the poor value given in return for the rates levied
The Cape Town City Council’s current revaluing of residential property has, as previously, resulted in his property group being flooded with questions from the general public as to the accuracy and reliability of these rates – and, in many cases, the policy on which the Council appears to be working.

Auctioneering of property now the preferred method for many residential sellers

A major change in the residential property sector is taking place without many people being aware of it, says Andre Piguet and Ursula Otto, franchisees of the Rawson Properties Mossel Bay franchise – and their newly acquired Rawson Auctions Garden Route franchise...

Increasing computerisation and a lack of skills among bank staff have depersonalised home loan applications
The growing use of computers in almost every bank transaction can have great benefits for those applying for home mortgage bond finance – but it can also often work to their disadvantage, says Bill Rawson, Chairman of the Rawson Property Group...

When looking at buying a home…
While visual appeal often drives a home buyer’s decision there is more to buying a home than meets the eye...

Check the deed before the deal is done
Home buyers should carefully inspect the title deed of any property they want to buy before they sign an offer to purchase...

New service to increase the chance of getting a home loan

Waiting to see if your bond application will be approved has always been one of the most stressful aspects of buying a new home – whether you’re a first-timer or an old hand...

Save time and wasted effort by pre-qualifying with a reputable bond originator

In response to many requests from estate agents, Rawson Finance, the bond origination division of the Rawson Property Group, has begun issuing a ‘Rawson Buyers Qualification Certificate’...

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Focus On

Bloemfontein, Free State, South Africa

The City of Roses, established in 1846, bears a colourful history and a big reputation; not only is it home to the Supreme Court of Appeal but, also to the Maphikela House (where the ANC was established)...

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In The Area

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

  • Fish Hoek & Noordhoek
Fish Hoek, Noordhoek charm Peninsula buyers
Superb beaches, spectacular mountain and sea views, and a select lifestyle are drawing buyers to the Cape's southern peninsula and to Fish Hoek and Noordhoek in particular...

News Continue

What options do you have when you are transferred shortly after buying a home?
Many estate agents with five or more years of experience have, at some stage, come across a situation where shortly after a sale has been signed and transfer of the property has been concluded, the buyer has to move on to a new city or country for work related purposes.

When is it acceptable to mortgage a home to finance a business venture?
When reading the life stories of successful entrepreneurs it becomes clear that, very often, at some point in their careers they have mortgaged their homes to finance their businesses...

Voting rights must be checked
When it comes to voting time at the AGM of a sectional title scheme, the trustees must be sure that all those who are voting do in fact have the right to vote, says Michael Bauer, general manager of the property management company IHFM...

What is the maximum interest rate that can be charged on overdue levies
Those who live in sectional title schemes and pay their levies on time are not affected by the interest rates charged on overdue levies, but those who habitually pay late will probably be hoping there is a maximum percentage of interest set by law on overdue accounts, says Michael Bauer, general manager of the property management company, IHFM...

Helping kids learn and play on Founder's Day
With this year marking the 40th anniversary of the RE/MAX brand around the world, local Southern Africa offices commemorated the occasion on 30 January, known as RE/MAX Founder’s Day, by collecting toys and books for various charities, crèches and orphanages that operate in their community...

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Tivvit Property Count 22/02/13

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Properties for Sale: 116,164
Properties to Rent: 9,884

"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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