The luxury real estate market has long been viewed as a safe haven for investors, offering not only opulent living spaces but also the potential for substantial returns. However, recent economic shifts and global uncertainties have caused many to wonder if now is truly the right time to invest in high-end properties. “Higher interest rates, rising inflation and growing instability worldwide have...
Finance – Wealth – Invest
By: Erin White Life insurance can make an excellent estate planning tool to ensure succession, make provision for loved ones, and to create liquidity in one’s estate. However, it is important to understand the estate duty implications when it comes to life assurance policies because getting it wrong can have severe consequences for your estate and your loved ones. Section 4q deductions: In terms...
South Africans are enduring the effects of a sustained period of rising costs and increased debt payments which in turn have put them under severe financial pressure, for many homeowners, this pressure has seen them being unable to keep up with their monthly home loan repayments. According to credit bureau TransUnion, as many as 7.2% of homeowners are three months or more in arrears on their home loan...
The buy-to-let investment strategy has faced challenges across South Africa due to rising interest rates, economic shifts, and escalating property prices. Investors are increasingly under pressure to ensure that rental income can cover the higher costs of financing properties. However, despite these challenges, Cape Town and the broader Western Cape continue to offer promising opportunities for buy-to-let...
We all want to achieve the best possible return on what is probably our largest investment and, when it comes to selling your home in South Africa, understanding how capital gains tax (CGT) applies can be crucial for minimising your tax liability. Claude McKirby, Co-Principal for Lew Geffen Sotheby’s International realty in Cape Town’s Southern Suburbs and False Bay explains: “Capital gains tax is a...
Ordinary South Africans-turned-micro-developers in the townships have been hailed as the property heroes of the city, with their ability to curb an impending affordable housing crisis. The micro-developers began in earnest about 20 years ago to respond to the scarcity of affordable housing by providing low-cost rental stock by either building onto their homes or demolishing their homes and building...
As the 2024 Income Tax Filing Season approaches, the South African Revenue Service (Sars) has implemented significant updates aimed at simplifying tax compliance. Recently, Sars has increased its focus on the reporting of beneficial ownership information by company and trust taxpayers. Now, individual taxpayers are also subject to this requirement and must disclose Beneficial Ownership information to...
The uncertainty in South Africa’s property market ahead of this pivotal general election is not a cause for concern, pre-poll economic jitters are a common thread of elections worldwide and invariably the market bounces back fast. This according to High Street Auctions Director Greg Dart, who says there’s a rhythm to election cycles well known to the global property sector, and to which it adapts –...