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26 April 2013

 
FROM THE EDITOR

There is evidence that the potential South African home buying public are slowly – and almost reluctantly – reprioritizing their spending habits and are showing a slightly greater determination to acquire residential property in the traditional South African fashion. Read more in Despite the recent cutback in consumer incomes, a slight swing to residential investment is now becoming evident

Just about everyone cheered recently when the reserve Bank decided to leave interest rates unchanged again, but it was not necessarily such good news for the real estate market. The problem, according to Rudi Botha CEO of BetterBond, is that instead of making the most of another opportunity to reduce their debt levels, the majority of SA consumers will now probably do what they usually do – indulge in another round of ‘pro-cyclical’ borrowing that raises their debt levels even higher, and puts their prospects of becoming a homeowner even further out of reach. Read more in Prospective homeowners need to stop 'reckless borrowing'

Home buying is especially stressful for the first-time home buyer but they can do much to look like “old-hands” – and avoid common problems – Berry Everitt, MD of the Chas Everitt International property group, shares some basic home buying guidelines with us in The seven habits of effective home buying

Water costs in sectional title schemes can often be one of the body corporate’s largest expenses. The best way to monitor water usage in sectional title schemes is to install prepaid or individual water meters, says Propell executive director, Johann le Roux. Read more in Waterwise sectional title schemes

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News

Despite the recent cutback in consumer incomes, a slight swing to residential investment is now becoming evident
There is evidence that the potential South African home buying public are slowly – and almost reluctantly – reprioritizing their spending habits and are showing a slightly greater determination to acquire residential property in the traditional South African fashion...

Commercial Property remains an attractive Investment for Entrepreneurs
Despite South Africa’s economic challenges, the local commercial property market continues to offer value for potential investors, according to Business Partners executive director Gerrie van Biljon...

No extra tax incurred if you leave property to your heirs
For no reason that he can identify, says Mike van Alphen, National Manager of the Rawson Property Group’s bond origination division, Rawson Finance, some people are under the impression that if they have a residential property to leave to an heir this will involve a higher tax level than if cash or shares are bequeathed....

Prospective homeowners need to stop 'reckless borrowing'
Just about everyone cheered recently when the reserve Bank decided to leave interest rates unchanged again, but it was not necessarily such good news for the real estate market...

The tender system of home buying could have many advantages
An interesting procedural innovation could make a significant difference in the way in which some homes are sold in South Africa in the future, says Bill Rawson, Chairman of the Rawson Property Group...

The seven habits of effective home buying

Home buying is especially stressful for the first-time home buyer but they can do much to look like “old-hands” – and avoid common problems – by following some basic home buying guidelines...


Buyers must learn about sectional title before buying a unit
Just as estate agents need training in order to be fully versed in all legal aspects of selling or buying sectional title units, potential owners should also read up and know as much as they can about owning a unit in a sectional title scheme before signing an offer to purchase for a section in a sectional title scheme, said Michael Bauer, general manager of the property management company, IHFM..

Choosing a managing agent
Sectional title schemes, while varying in size, all need the right management so that their financial stability is kept intact, says Michael Bauer, general manager of the property management company, IHFM...

Waterwise sectional title schemes
The recent celebration of World Water Day and Earth Day has raised awareness of the need to conserve water and the awareness to save. The best way to monitor water usage in sectional title schemes is to install prepaid or individual water meters, says Propell executive director, Johann le Roux...

Sectional Title: Extensions involve lots of red tape
Sectional title property owners who would like to extend or alter their units to create more space will probably have to spend a considerable amount of time and money to get the necessary approvals...

Aida on the road again

Aida Properties Polokwane will host its second road race on Friday, 27 April. The race, approved by Athletics South Africa and organised in collaboration with Run/Walk For Life, will give serious athletes an opportunity to warm up for the Comrades on 2 June and social runners the chance to flex their muscles...

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

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Institute of Estate Agents Western Cape - Membership drive, Log Book update and Road Show
While there are many changes taking place in the real estate industry and many have said that there is confusion in the ranks, the Institute of Estate Agents in the Western Cape are continuing their drive towards bringing the best service and the best possible training to all estate agents...

Kungwini becomes ‘dormitory’ town
Severe housing shortages in some of the towns that make up the Highveld coal belt are putting the residential property market in Kungwini (formerly Bronkhorstspruit) under increasing pressure as homebuyers stream to the centrally located town...

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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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