Qualifying for a home loan may feel like clearing a hurdle, but potential new homeowners need to actively take the next step to negotiate a competitive interest rate with the major banks. The last few South African Reserve Bank’s (Sarb) Monetary Policy Committee (MPC) announcements have left interest rates unchanged at 11.75% - a 10 year high as interest rates remain extremely high. The high interest...
Although the interest rate has been at a 10 year high of 11.75% for two years, there are indicators that the real estate market is starting to recover.This is according to the most recent BetterBond Property Brief for April 2024, which shows a 7.8% increase in bond applications over the first three months of the year despite the highest interest rates levels since 2014.House prices have also recovered,...
Earth Day, observed on April 22, is an international day dedicated to raising awareness about the critical need to protect the environment.South Africans who want to participate in a greener tomorrow can include a variety of sustainable alternatives in their home.The chief executive of Brights Hardware, Orlando Luis, provides guidance on three simple ways that you can implement to celebrate Earth...
The number of transactions in the South African residential property market has reduced, according to Dr Andrew Golding, chief executive of the Pam Golding Property group.The reasons for reduced property transactions are: a weak economy, higher cost-of-living, including electricity and other municipal tariff hikes, as well as geopolitical impacts.Golding said that all of these factors have made home...
Due to high interest rates, to buy property or not buy property can be a dilemma for many people, but if you’re leaning towards the former, here’s what you need to know.Samuel Seeff, chairman of the Seeff Property Group said that for buyers, it is a good time to buy despite the higher interest rates because prices have been flat for two years which means they can find the same value compared to two...
The Companies and Intellectual Property Commission (CIPC) is in the process of finalising an investigation into the conduct of various regulators that led the failure of a number of property syndication schemes between 2010 and 2012. The two year long CIPC investigation looks into Sharemax, one of the largest South African property syndication schemes at the time. According to Moneyweb, the investigation...
Bryanston, a suburb just north of Johannesburg, is at the top of South Africa’s top five suburbs in both property sales and total purchase price. This is according to Lightstone, a company which provides data and and analytics in the property sector. This was achieved despite the lacklustre performance of Gauteng’s market with property growth inflation currently under 1%.Sea Point in the Western Cape...
In the property sector, there has been a notable increase in the interest in lifestyle properties. This is according to Arnold Maritz, Co-Principal of Lew Geffen Sotheby’s International Realty. These lifestyle properties encompass a range from luxury holiday homes to small game or wine farms and exclusive estates. They are often used for upmarket enterprises such as boutique hotels, spas, and...
Investing in real estate has long been considered a reliable investment strategy because property is a tangible asset which offers unique advantages that can accelerate wealth accumulation over time.This is according to Claude McKirby, co-principal for Lew Geffen Sotheby’s International Realty.Real estate market fluctuations are generally not as extreme, and property tends to appreciate steadily over...
Those who are returning to South Africa have more than its rich history, natural beauty, lifestyle and comfort of home to celebrate.With the currency rate on their side, many expats are opting to invest in property in the country, where they can be certain of considerably greater value for their long-term financial security.This is according to Bradd Bendall, the interim chief executive of...
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