With South Africans living and travelling abroad, the power of attorney (POA) is a useful legal tool that can make the sale or purchase process of property much easier and quicker when the buyer or seller is unavailable or unable to attend to the transaction details in person.According to Claude McKirby, Co-Principal, Lew Geffen Sotheby’s International Realty, a POA allows a person, known as the...
Following a second cut in the interest rate as well as the curbing of the sharp upward trajectory of inflation, investor sentiment is cautiously optimistic and South Africans are once again looking to invest in real estate, according to Yael Geffen, CEO of Lew Geffen Sotheby’s International Realty.Geffen said that real estate is traditionally regarded as one of the most stable investment options.With...
Christmas season is a time for celebration, family reunions, and much-needed vacations.However, it is also a high season for home robberies, since criminals frequently target unoccupied houses and inattentive homeowners.Protecting your house at this time is critical to having a stress-free holiday."Investing in security features not only provides peace of mind and protects your loved ones and belongings,...
Coastal towns in the Western Cape, along with smaller towns along the Eastern Cape and KwaZulu-Natal coastline, have bucked the national sales volumes and price trend, according to Lightstone, a provider of data, analytics and systems on property, automotive and business assets.Hayley Ivins-Downes, Managing Executive Real Estate, Lightstone said that on a national level sales volumes declined by 5% in...
The Western Cape is still the most expensive province to rent in, followed by the Northern Cape and then the KwaZulu-Natal.On the other hand, the North West has the lowest average rental price. The PayProp Rental Index Q3 2024 has revealed the average cost to rent in the nine provinces in South Africa, from the highest to lowest rental prices.Western CapeIn Q4 2023, the average rent in the Western...
President Cyril Ramaphosa has approved the new Deeds Registries Amendment Bill, according to a statement from the Presidency.The Presidency said: "President Cyril Ramaphosa has assented to the Deeds Registries Amendment Bill, which seeks to enhance deeds registration processes and procedures and will create uniformity in the deeds registry practice and procedures."This new law amends the Deeds Registries...
People who buy sectional property for the first time often underestimate the importance of the body corporate and the impact the entity can have on their daily lives as well as the value of their property.However, assessing the body corporate is as crucial as thoroughly inspecting the property itself because the body corporate plays a important role in maintaining the complex, enforcing rules, and managing...
There has been a decrease in vacancies for rental stock with a value of less than R12,000 a month in Q32024, according to the TPN Vacancy Survey Report Q3 2024.The report showed that: - in the R3,000 or less a month rental value band, vacancies dropped from 10.97% in the second quarter to 6.89% in the third quarter- in the R3,000 to R7,000 rental value band vacancies declined from 6.75% to 5.8% in the...
By Vivian WarbyThe affordable housing crisis in South Africa and globally is undeniable.Despite years of democracy, spatial inequalities and systemic barriers remain largely unaddressed in the country.Yet, there is hope. I discovered this as I delved deep into the affordable housing crisis this year, guided by experts in the field who kindly gave me hours of their time.For instance, within our townships...
Last month, the KwaZulu-Natal South Coast once again received the title of highest number of Blue Flag beaches in the province. According to the The Wildlife and Environmental Society of South Africa (WESSA), seven KZN South Coast beaches have achieved Blue Flag status while a further five have retained Blue Flag Pilot status. This bodes incredibly well for the KZN South Coast property market,...
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