The City of Cape Town’s Urban Mobility Directorate has updated the Comprehensive Integrated Transport Plan (CITP) that was approved by Council in 2023. The CITP outlines the strategies and plans for the period 2023 to 2028 to improve transport in Cape Town, including access to a range of transport choices that are sustainable and dignified to keep Capetonians moving. Residents and stakeholders are...
Residential vacancy rates have risen from 4.42% in Q1 2024 to 6.72% in Q2 2024, according to the TPN’s Residential Vacancy Survey Report. This report showed that KwaZulu-Natal and the Eastern Cape were the worst hit with double digit increases while Gauteng and the Western Cape reported fewer vacancies, in line with the national average.Waldo Marcus, the head of marketing for TPN credit bureaus, said the...
The fire on Heritage Day at the Broadwalk Urban Village in Midrand raises questions on what rights tenants have if they have been affected by a fire.Lorraine-Marie Dellbridge, of Lew Geffen Sotheby’s International Realty offers advice on what tenants should do if their home has been damaged by a fire. Dellbridge said that depending on the cause and severity of the fire damage, the following could...
Home ownership in these times is, for many, a far-off dream. But one man learned the hard way that his might actually be a nightmare.Dentist Dr Craig Adams of North Carolina, in the United States, claims that a woman he has never met filed court documents claiming ownership of his home (around R69,292,400) and obtained the deed to it.In a report by ABC 7 Chicago, Adams first found out that he no longer...
A home is one of the biggest investments that you will make in your lifetime, so when it comes time to sell it, it is crucial that you set yourself up for success.Grant Smee, Managing Director, Only Realty Property Group said: “Making informed decisions early in the process can be the difference between profiting from the sale of your home or potentially facing a failed transaction.”According to Smee,...
The Monetary Policy Committee (MPC) for the South African Reserve Bank (Sarb) has cut the interest rate by 25 basis points which means that homeowners will save on their monthly home loan repayments. However, to reap the best rewards of the repo rate cuts long term, homeowners are being urged to carry on paying their home loans at the pre-interest rates level, which could save them over two and half years...
By Ariana KaramallisMost people live in cities and the world’s urban population is projected to increase by another 2.5 billion people by 2050.Nearly half of urban residents – roughly a billion people – are living in slums and informal settlements.These communities, despite contributing the least to climate change, are, in fact, the most severely affected.The impacts of climate change are becoming...
The ministers and deputy ministers who left the homes that they were given during their tenure in a “dreadful state” may face jail time, according to the Department of Public Works and Infrastructure.These former public officials who left their State homes in a disgusting state, and in some cases, defaced the property or took items from the homes, have been given a time-frame to sort the matter out or...
The SA Reserve Bank cut the repo rate by 0.25 basis points today, the first time South Africans have seen a rate cut in four years.While the cut was welcomed, some say it should have been by 0.5 basis points and believed the SARB acted too conservatively.The announcement came hot off the tail of the US Federal Reserve’s announcement yesterday that it had reduced the target for its key lending rate by 0.5...
South African homeowners can breathe a sigh of relief as the South African Reserve Bank (SARB) has announced an interest rate cut which can have a significant impact on monthly home loan repayments. The SARB Monetary Policy Committee (MPC) has cut the interest rate by 25 basis points from 8.25% to 8%. Prime lending rate in the country dropped from 11.75% to 11.50%.The drop in the repo rate comes after no...
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