Investing for an income is what you do, for example, when buying a life annuity with your retirement savings. You aren’t investing for some long-term accumulation goal; you are putting your money in an investment that will hopefully give you a sustainable return from which you can withdraw at regular intervals for your day-to-day living expenses.Your income from this investment needs to increase each...
The South African government is going to have to “start taking its job very seriously” when it comes to providing sufficient infrastructure and housing to accommodate the country’s growing population.This includes ensuring that regions where people are migrating in greater numbers have the required infrastructure and amenities.The 2022 census results released on Tuesday reveal that there are now more...
Just because you cannot afford to buy your own home does not mean you cannot afford to own property.Buying a property with a partner, friend, or family member can be a good way to take that first step on the property ladder or start an investment journey; you just need to be sure you know what this entails and how to protect yourself, your relationship, and your investment.There are many benefits to...
Just under half of South African companies selling their business premises are doing so to move to areas with better municipal services and reliable utilities.This figure is even higher than the number of commercial property owners selling up due to financial pressure.Focusing on key drivers of movement and sales activity in owner-occupied properties, results of the Q3:2023 FNB Property Broker Survey,...
Signing an offer to purchase (OTP) a home does not mean your offer will be accepted or that the sale will go through, but it is a legal document that needs to be very carefully understood.A Durban family was recently ordered to pay a real estate company R40,000 in commission as well as their legal fees after the deal to buy a property they had put in a written offer for, fell through.For first time buyers,...
If you are looking to buy property that you would like to bequeath to an heir, or heirs, one day, establishing a trust may be a good idea.This is because it can give you greater control over what happens to the property when you are no longer around.Most of the time, says Grahame Diedericks, manager principal for Lew Geffen Sotheby’s International Realty in Midrand, people buy property as their primary...
In just 12 months, interest rates went up by 3.5 percentage points, but this does not mean your bond repayments did too; no, that increase actually means you are now paying 27.2 percent more on your home loan.Added to this, the average salary increase from 2022 to 2023 did not keep up with inflation during that same period.Homeowners with a R1m bond paying R8,521 a month last year were paying R10,837 this...
The housing markets in the Western Cape and Eastern Cape are driving property prices in the region as they offer the enviable coastal lifestyles that buyers are looking for – and affluent foreign buyers can afford. The Western Cape has seen a 10 percent increase in property prices from August 2022 to August this year, and while this performance is not unexpected in the country’s semigration hotspot, it...
If you are thinking of selling your home you may want to consider doing so in winter or spring, and, if possible, avoid putting it on the market in summer.Your main consideration will, of course, be the state of the housing market at the time you want to sell, as well as interest rates and your personal situation, but if you have some flexibility, knowing how to time your sale could be beneficial.Contrary...
The value of all global real estate – comprising residential and commercial real estate, and agricultural land, reached $379.7 trillion – R7.3 quadrillion, last year, maintaining the asset’s position as the world’s most significant store of wealth.And residential property makes up 76 percent of the value of all real estate in the world.Research by global real estate services provider Savills,...
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