A local alternative home financier has identified a critical market design flaw as the root cause of South Africa’s failure to meet the soaring demand for affordable housing, particularly in the so-called "gap market”.This segment comprises households earning too much to qualify for government-subsidised Reconstruction and Development Programme (RDP) housing but too little to secure traditional...
The Housing Development Agency (HDA) is grappling with a daunting funding model that restricts its ability to secure direct state funding, a drawback that significantly undermines its mission as a public sector developer in South Africa. In a recent interview with Independent Media Property, HDA officials articulated the challenges posed by these financial constraints, emphasising the substantial capital...
New residential developments are anticipated to pick up, particularly in the Western Cape, which has experienced the fastest housing price growth, reflecting an under-supplied residential market.This is according to FNB Commercial Property Finance senior economist John Loos.He added that retail developments are likely to follow in areas where residential growth occurred. “The migration of skilled and...
As cities grow and lifestyles evolve, shared spaces have emerged as the heartbeat of urban living. Shared spaces are a modern solution to urban challenges and resonate with today’s city dwellers. These thoughtfully designed communal areas—ranging from rooftop gardens to co-working spaces and shared entertainment facilities—are redefining the way people live by fostering connection, promoting...
THE ball is now in the court of the City’s Planning Appeals Advisory Panel (PAAP) to recommend the future of a six-storey hotel development planned to be built less than 20 meters from South Africa’s oldest mosque, Auwal Masjid in Bo Kaap. The building has drawn widespread criticism from the residents of the historic area, with the Bo-Kaap Civic and Ratepayers Association (BKCRA) expressing...
Cape Town - A proposed 10-storey luxury development in Clifton has received multiple objections from residents during the public participation process. The development plans are now seemingly in limbo and have yet to be referred to the Municipal Planning Tribunal, as it remains a pending matter after receiving all environmental approvals. According to the public and basic assessment report...
The Capital Hotels, Apartments and Resorts is continuing to reshape Umhlanga’s shoreline with the launch of Pearls Shore, the seventh phase of the acclaimed Pearls development. Spread beautifully along KwaZulu-Natal’s most prestigious piece of coastline, The Pearls has long offered unparalleled beachfront living. The Capital is now extending that offering with the Pearls Shore, due to be completed...
Investing in a coastal estate is beneficial for everyone from first-time buyers to families and retirees, but the big debate is often between buying a home or buying land and building oneself. While buying a completed home is a better investment choice for some, there are some significant benefits to buying vacant land. “For long-term investors who are looking to create a home unique to their specific...
Westown, the New City of the West and Durban’s newest commercial, tourism and retail hub, is estimated to generate some R15 billion in investment over the next 10 to 15 years, with over R2,5bn already committed and being invested by Fundamentum, together with the Absa Commercial and Investment Bank (Absa) backing of the 48 000m² Westown Square shopping experience. We hear more from Carlos Correia, CEO...
Cape Town, South Africa – Only Realty’s development division has achieved a significant milestone by selling 100 units within just weeks of launching The Monarch. Developed and built by WCB Property Developers, this new residential project is located in Cape Town’s popular Tygervalley area. Nadine Pretorius, CEO of Only Realty Forge, confirmed that 40 units were sold during the launch weekend,...
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