10 Ways Entrepreneurs Can Take Their Business to the Next Level – May 2020
A big part of being a successful founder means knowing when to back down and knowing when to step up…
3 new bills are a step closer to becoming law – including rules around WhatsApp and online messages – 12 June 2020
Parliament’s Select Committee on Security and Justice has adopted the Cybercrimes Bill and other key pieces of legislation…
3 steps to POPIA compliance – 16 July 2020
South Africa has become the latest African country to legislate the protection of personal information, with the country’s Protection of Personal Information Act (POPIA) in South Africa that came into effect on 1 July 2020…
3 things to do when hitting the property market today – 28 October 2020
Covid-19 has had a huge effect on all aspects of South African lifestyles, not least of which is the effect it has had on our perception of our homes. Never before have we had to spend so much time in our own living spaces, or had to perform so many different tasks in the same place…
5 things you need to look out for before buying property this year – 11 June 2020
Homebuyers that were undecided about buying property for primary use are more likely to make up their minds to purchase property, given the low-interest rate environment. The low-interest-rate environment is essential to stimulating consumer spending and economic recovery…
6 reasons why you should pay a deposit when buying property – 11 September 2020
As a first-time home buyer, the most important thing to consider is whether or not clients can afford to take this big step. While it is still possible for a bank to grant clients a 100% home loan which does not require a deposit, we strongly encourage our first-time home buyers to consider putting down a minimum deposit of at least 10% of the value of the property to ensure that their home loan repayments are reduced and more manageable…
8 ways to boost your home deposit savings this year – 6 January 2020
At the moment, first time buyers are being urged to enter the property market as soon as possible because the banks are eager to lend them money, deposit requirements are low and home prices are set to start growing more quickly…
9 first-time buyer mistakes to avoid in the current housing market in South Africa – 26 September 2020
Even the darkest cloud has a silver lining and, in this instance, it’s the rare combination of a record low repo rate and a very bearish market affording first-time buyers an excellent opportunity to get a foot in the market and make a good investment if they keep their wits about them…
A big court win for small business owner against SARS – 26 July 2020
The Pretoria High Court, earlier this month, granted a small business owner an urgent basis for relief against the South African Revenue Service (SARS) who depleted his bank account without following due process…
A BUYER’S MARKET – THE BENEFITS OF A SOLE MANDATE – 20 July 2020
In the current buyer’s market, sellers need to utilize their advantages for their homes to stand out in the crowd. One such advantage would be signing a sole mandate to ensure that their property gets the maximum attention…
A Complete Guide to Working from Home in 2020 – June 2020
One wonders how many office-based businesses, having been forced to work remotely during the lockdown, will now abandon or minimise their office spaces on a permanent basis rather than return to the “old normal”. Regardless, if you and your staff are currently working from home, you need to configure the arrangement for maximum productivity and quality of life…
A Letter from IEASA’s President – Christo Weilbach – 24 April 2020
At this stage I am sure that everyone’s nerves are raw and that frustration and uncertainty is high on the agenda. We are in uncharted waters and we need to swim. At least Estate Agents are known for their resilience and I know that our profession will come back from this stronger than before…
A look at South Africa’s massive new wind farm that just launched in the Western Cape – 8 October 2020
Renewable power company Lekela has announced the start of commercial operations at its Perdekraal East windfarm in the Western Cape. The windfarm will add 110MW to South Africa’s national grid and is the first wind farm from round four of the renewable energy Independent Power Producers Procurement Programme to begin commercial operations…
A practical health and safety guide for a COVID-19 workplace plan – 2 June 2020
Occupational Health and Safety specialist, MAKROSAFE, is constantly updating its database to help industries keep abreast with the changing demands of the COVID-19 pandemic. Here is a practical guide to COVID-19 health and safety measures in the workplace…
A RETIREE’S CHOICE BETWEEN ACQUIRING A SECTIONAL TITLE UNIT OR A LIFE RIGHT – 8 June 2020
Preparing to move into a retirement scheme is not as simple as selling your home, packing boxes and moving into the new place. Nowadays there are various purchase options available, the most prominent being sectional title ownership and life rights. Choosing the one or the other must be an informed decision as these are very distinct legal concepts…
Agent commission: What am I paying for? – September 2020
Sellers often feel estate agents get too big a piece of the pie, mainly because they don’t know and can’t see what the agent is actually doing for commission earned. This sometimes leads sellers to avoid using an agent when selling their homes…
Alert Level 4 Rules | How it affects Estate Agents and the Real Estate industry – 4 May 2020
While the deeds office will be open as an essential service there will be no show houses permitted during Alert Level 4 when South Africa’s lockdown moves to Alert Level 4 on 1 May. The latest Regulations relating to the Schedule of Services and Framework of Sectors was gazetted and released on Thursday night, 29 April…
All about creating confidence, positive sentiment in our economy – 29 October 2020
The minister of finance Tito Mboweni hit the nail on the head during the Medium-Term Budget Policy Statement (MTBPS) when he said that it is not only investors who need confidence, but also the average South African…
AMDEC COMMITS TO AFFORDABLE HOUSING WITH GOLDEN GROVE ESTATE – 16 October 2020
A new 1000-unit affordable housing development comprising of three different unit sizes was launched by the Amdec Group last month on 11 hectares of land in Ottery, Cape Town…
Amended Regulations to ‘WHEN YOU MAY MOVE FROM OR TO A HOME and OTHER NEW REGULATIONS – 14 May 2020
New Rules on moving house – as amended by Minister of Cooperative Governance and Traditional Affairs: Nkosazana Dlamini Zuma on 14 May 2020 (the initial deadline of 7 June 2020, has now been ‘dropped’) …
AMENDMENTS TO THE CAPE TOWN MUNICIPAL BY-LAWS NOW ALLOW 3 DWELLINGS ON AN ERF AND Airbnb-TYPE LETTING – 31 January 2020
The City of Cape Town has recently approved amendments to the Municipal Planning By-laws. These amendments were promulgated on 6 December 2019 and are effective from 3 February 2020. The amendments will allow for the construction of a third dwelling on a property that is zoned as Single Residential, and for short-term letting…
AMOUNTS TO BE WITHHELD WHEN A NON-RESIDENT SELLS IMMOVABLE PROPERTY IN SA – 2020
The withholding tax on amounts paid by the purchaser to non-resident sellers of immovable property situated within South Africa as prescribed in Section 35A of the Income Tax Act came into effect from 1 September 2007…
ARE LANDLORDS OBLIGATED TO PAY THEIR TENANTS’ UTILITY ARREARS? – 10 December 2020
If a tenant’s rent is up to date but their utilities are in arrears, are landlords obligated to cover these costs?..
ARE VIDEO WILLS VALID IN SOUTH AFRICA? – 15 September 2020
There is no precedent on the validity of video wills in South Africa. In order for a will to be valid and accepted by the Master of the High Court in this country, it has to comply with the requirements as set out in section 2 of the Wills Act 7 of 1953…
ARTICLE PUBLISHED / FEAR OF EXPROPRIATION – FOE? – 26 July 2019
Earlier this month, the Expropriation Bill was approved by Cabinet and sent to Parliament for adoption. This prompted a revived deluge of negative press, fears of government-approved land grabs and visions of a fast forward to Zimbabwe-style land losses. None such perceptions are warranted or correct…
Bank mortgage lending is drying up in South Africa – 29 May 2020
The South African Reserve Bank (SARB) says that banks have adopted a relatively conservative approach to mortgage lending. Banks will understandably be taking a cautious approach in the short-to-medium term as a result of the fallout from the Covid-19 pandemic…
Banks to reform conveyancing practices – 20 July 2020
Standard Bank, Investec, FNB and Nedbank have committed to reforming their conveyancing practices in response to concerns raised by the Competition Commission on the relationship between banks and conveyancers…
BE READY TO OPEN YOUR DOORS: YOUR REQUIRED POLICY – 29 May 2020
The new regulations relating to Level 3 arrangements have been published. Note that these new regulations do not repeal the 29 April 2020 regulations and these must therefore be read together to get the full picture…
BE READY TO OPEN YOUR DOORS: YOUR REQUIRED POLICY – 25 May 2020
In anticipation that estate agents may commence normal businesses operations in the very near future, we share a generic draft AGENCY COVID POLICY document with the relevant questionnaires…
BEQUESTS TO PERSONS MARRIED IN COMMUNITY OF PROPERTY – 22 September 2020
If you make a bequest to a beneficiary in your will, the inheritance will fall into the joint estate of the beneficiary and his or her spouse, if he or she is married in community of property…
Big standoff between retailers and landlords loom – 7 May 2020
Shopping centres and large retail outlets are bleeding. With most having to keep their doors closed during the lockdown period, revenue has slowed to a trickle – or to nothing at all. Even for stores that may trade, feet through the door is becoming a long-forgotten concept as many shoppers turn to online orders and home deliveries…
BizTrends2020: The rising role of women in real estate – 2020 and beyond – 6 January 2020
According to a recent Time magazine article, women are ‘on the brink of a massive power shift, a grinding of the gears of history’ and Fast Company declared that ‘women as a group have the power to define this century and beyond’.
Breaching South Africa’s new personal information laws could lead to a R10 million fine or 10 years in jail – 11 July 2020
Parts of the long-awaited Protection of Personal Information Act 4 of 2013 came into force on 1 July 2020, and companies will have a period of one year to get their ducks in a row or risk substantial fines and even imprisonment…
BREAKING THE BOND – 14 July 2020
One of the tricky issues to be resolved during a divorce could be when the couple owns a property jointly and even more so when a mortgage bond is registered in both their names..
Brisk recovery of Central Cape Town residential market surprises analysts – 1 October 2020
The brisk pace of recovery in property sales over recent weeks in Cape Town’s Central City residential market has surprised market analysts and estate agents alike…
Buy now rather than rent – September 2020
Owning is now generally better than renting, especially after the 2020 interest rate cuts, which save money for homeowners while renters are still paying the same…
Buying property on auction? Here’s what you need to know – 17 September 2020
Buying property at an auction does not necessarily guarantee that you’ll get a better deal. An auction is simply a public sale in which the property is sold to the highest bidder…
BUYING PROPERTY SOLO – ADVICE WHEN INVESTING ON A SINGLE INCOME – 5 August 2020
Purchasing real estate on a single income may be perceived as impossible. However, Lightstone Property reports that single females make up the largest portion of real estate buyers in South Africa, out purchasing both their married and single male counterparts…
Can foreigners own property in South Africa? – 17 September 2020
Foreigners may purchase and own immovable property in South Africa without any restrictions, as foreigners are generally subject to the same laws as South African nationals…
Can I be charged double interest on a home loan plus R50 000 in legal fees? – 30 May 2020
A Fin24 reader questions the legality of being charged double interest on outstanding bond debt, as well as R50 000 in legal fees…
Cape Town lifts water restrictions – announces new prices from November – 20 October 2020
The City of Cape Town’s mayoral committee has unanimously supported the city’s decision to lift water restrictions in Cape Town and to move to the lowest tariff from 1 November 2020…
City of Cape Town announces rental relief options for its business lessees – 1 June 2020
The City of Cape Town has announced its adoption of rental relief options for its business lessees in recognition that lockdown circumstances are beyond their control. The relief options are aimed at softening the impact of the potential loss of business with a two-phased consumer journey put into play…
CITY OF CAPE TOWN TO HOST SECOND MEETING ON THE FUTURE OF DISTRICT SIX – Date: Thursday 22 October 2020 @ 11:00 and 13:00
The City of Cape Town will be hosting another online meeting between 11:00am and 13:00pm on Thursday, the 22nd of October 2020 with residents and interested groups about the local spatial development framework or, local neighbourhood plan for District Six…
CITY OF CAPE TOWN’S AMENDMENTS TO MUNICIPAL PLANNING BYLAW – 03 February 2020
Substantial amendments to the City of Cape Town Municipal Planning By-law become operational today, 3 February. These deal with, amongst other things: Controlled densification of Suburbs by allowing additional homes on erven where the relevant zoning previously prohibited this … and more:
CITY OF TSHWANE ADDRESSING RATES CLEARANCE BACKLOG – 19 November 2020
City of Tshwane issued a media statement this week acknowledging the crisis regarding the backlog in issuing rates clearance certificates…
COASTAL PROPERTY MARKET GENERALLY PERFORMING BETTER – 13 October 2020
National house price inflation as at the end of August 2020 remained stable at 2.1%. Despite the general slowdown at provincial level…
COHABITATION OF UNMARRIED PARTNERS: WE’VE GOT YOUR BACK – 27 October 2020
Living together (also known as cohabitation) as husband and wife without concluding a civil marriage, whether as a conscious or unconscious choice, occurs in the vast majority of instances without appreciating the consequences…
COMMENCEMENT OF BUSINESS RESCUE BY BOARD RESOLUTION – 19 May 2020
When thousands of South African companies shut their doors on 26 March, the sad reality was that many that would never open again. As the economic effects of the measures imposed to curb the spread of COVID-19 are being felt across the board, companies in financial distress are forced to examine their options. Chapter 6 of the Companies Act provides for a company or close corporation to enter into business rescue as an alternative to liquidation…
Companies need certificates to operate during South Africa’s level 4 lockdown – 6 May 2020
The Companies and Intellectual Property Commission (CIPC) has confirmed that South African companies will still need to obtain a certificate to show that they are permitted to operate during the country’s new level 4 lockdown regulations…
COMPLEX ELECTRICITY TARIFFS AND THE KNOCK-ON EFFECT ON LANDLORDS – 20 July 2020
With many South Africans working from home, residential users will be in for a shock when it comes to their electricity bills. The electricity tariff hikes came into effect from the 1st of July 2020 and these complex tariffs are not only frustrating, but they are hindering attempts by consumers to manage electricity costs at a time when, for most people, every cent counts…
CONFIDENCE IN PROPERTY MARKET AMONGST THOSE WHO DON’T OWN PROPERTY – 28 September 2020
Absa Home Loans has recently released the Absa Homeowner Sentiment Index (HSI). In the second quarter of 2020, Absa asked 1000 consumers questions to gauge their confidence on various aspects within the local property industry…
Conscious Living: Top greening features sought by property buyers – 19 October 2020
Increasingly, buyers are looking for homes with greening and sustainable living features. While there is an element of cost saving, people are also increasingly becoming aware of their impact on the environment…
Coronavirus hits South Africa’s plans for land expropriation – 25 May 2020
The plan to amend section 25 of South Africa’s Constitution to allow for land expropriation without compensation has been put on hold due to the ongoing coronavirus lockdown…
Costs to consider when selling your property – 21 July 2020
When it comes time to sell, property owners are often caught off-guard by the expenses that come with selling property…
CREDITORS CAN LEAD TO THE SETTING ASIDE OF A PROPERTY PURCHASE – 7 August 2020
In a judgment that tells a story of intricate planning to disseminate a pension fund pay-out at a time when the recipient anticipated insolvency, the very real risks that arise are illustrated.
M AND ANOTHER V MURRAY AND OTHERS (251/2019) [2020] ZASCA 86 (9 JULY 2020)…
CSOS ANSWERS FREQUENTLY ASKED QUESTIONS BY MEMBERS OF COMMUNITY SCHEMES – 9 July 2020
On 23 June 2020 CSOS acting Chief Ombud, Ndivhuo Rabuli, published a directive and answers to 43 frequently asked questions that have bearing on homeowners’ associations and body corporates. The questions range from general questions to specific questions relating to registration of community schemes, levies and fees and annual financial statements…
CSOS urges Community Schemes to continue to abide by regulations – 14 May 2020
The Community Schemes Ombud Service( CSOS) would like to urge Community Schemes to continue to abide by the regulations issued by Cooperative Governance and Traditional Affairs Minister on Covid-19 especially as they relate to shared facilities…
CT property market becoming increasingly accessible to first-time buyers – 2 December 2020
A bullish buyer’s market and record-low interest rates has resulted in the Cape Town residential property market becoming more accessible to first-time buyers…
DEALING WITH FIXTURES & FITTINGS IN A PROPERTY SALE AGREEMENT – 14 July 2020
While sellers and purchasers sometimes take time to accurately list the items that are excluded or included when a property sale agreement is concluded, one often finds that this detail is lacking…
Deceased Estates – June 2020
What happens to a person’s estate when he or she dies?…
Distressed property owners beware of ‘assisted sales’ during Covid-19 – 25 May 2020
“An assisted sale or quick sale has been the main source of revenue for many estate agents in troubled times even before COVID-19.”…
Distribution of sensitive details about others – 28 January 2020
As of the end of 2019, anyone who shares explicit pictures or videos without the consent of the person featured in it, can be brought to task, with a hefty fine or even time behind bars…
District Six: This time the bulldozers are there to build houses – 27 July 2020
Work on the final phases of the District Six restitution project has begun. The national Department of Agriculture, Land Reform and Rural Development is having the ground cleared and rubble removal as mandated by the courts…
Don’t delay, find a way to invest in real estate today – May 2020
Astute investors have traditionally turned to real estate in tough times – for several reasons, starting with the fact that the demand for rental homes always increases when consumers are under financial pressure…
Don’t Pay Double Commission! – September 2020
With many property sellers allowing multiple estate agencies to market their properties in their attempts to sell during what is still (for the moment at least) a buyer’s market, now is perhaps a good time to remind both sellers and buyers of the double commission danger…
DON’T RISK THAT YOUR BUSINESS BECOMES THE NEXT EXPERIAN – 21 August 2020
South Africa’s largest data breach has now been contained, according to the Experian credit bureau. During 24 to 27 May this year, it had released the personal details – including identity numbers, telephone numbers, physical and e-mail addresses of more than 23 million individuals and nearly 800 000 businesses – to an individual, now the ‘fraudster’, who presented himself as authorised to have that information…
EAAB – Latest Update – 31 May 2020
THE EAAB’S COMMITMENT TO CONTINUED SERVICE DELIVERY: IT IS TO BE NOTED – that the EAAB will not at this stage be opening its doors to the public or Property Practitioners on 08 June however, communications will be sent out and placed on the EAAB website advising the official date for reopening its doors…
EAAB didn’t renew PI cover for estate agents – 16 July 2020
It was recently confirmed that the professional indemnity cover, that the Estate Agency Affairs Board (EAAB) arranged for all estate agents in 2017, lapsed about a year ago and wasn’t renewed without the regulator informing the industry of this yet…
EAAB OFFICES HAVE RE-OPENED – 11 August 2020
The EAAB offices re-opened on Tuesday 11 August 2020…
EAAB updating its Contact database – 29 September 2020
IMPORTANT NOTICE from the EAAB….
EAAB: Estate Agents – Some Urgent Notices You need to be Aware of:
Notices received from EAAB during the week: 14 September 2020…
EAAB: ESTATE AGENTS PROVIDED WITH GUIDELINES ON HOW TO CONDUCT BUSINESS DURING COVID-19 – 14 June 2020
Estate agents are encouraged to conduct virtual property tours and record offers to purchase electronically as part of the real estate industry returned to work under alert level 3 of COVID-19 regulations…
Electronic signatures now legal for home sales? – 5 November 2020
A recent Eastern Cape High Court decision – Borcherds and Another v Duxbury and Others (1522/2020) [2020] ZAECPEHC 37 (22 September 2020) — has focused the law on the ever-increasing use of electronic signatures. Unfortunately, the judgement, instead of giving guidance and certainty, introduces confusion and doubt into this fast-growing category of technology…
ENERGY AUDIT IMPORTANCE AND WHY YOU SHOULD BE PRIORITIZING IT – 17 February 2020
What do you think is the most important component of commercial energy efficiency and sustainability is? Most people answer “recycling” or “lighting” or “HVAC.” While all of these things play huge roles in energy efficiency, energy audit importance takes the cake…
Estate agents can now apply for an essential services permit to perform inspections – 10 May 2020
While it might not be back to work as usual just yet, estate agents can register as an essential service provider to facilitate incoming and outgoing inspections – now that the once-off movement to relocate has been put into effect…
ESTATE LIABILITIES TO CONSIDER IN YOUR WILL – 1 September 2020
Have you provided for these administration and related costs payable by your estate?…
Everything you need to know about property valuations – 18 June 2020
If you’re thinking about putting your property on the market, the first thing you need to know is how much it’s worth. This will give you a realistic impression of how much money you will make from the sale – and it also gives you the ability to plan your next step…
Expect another rate cut this week say economists – 18 May 2020
The South African Reserve Bank’s (SARB) Monetary Policy Committee (MPC) meets this week, with economists and analysts expecting another rate cut to be announced on Thursday…
FENWICK LANE – INJECTING URBANITY INTO SUBURBIA – 13 October 2020
A design-driven development, Fenwick Lane consists of eight new compact homes in Brooklyn, a suburb on the doorstep of Cape Town’s CBD…
First South African-developed online property auction platform launched – 25 May 2020
While the Covid-19 pandemic has seen an uptick in businesses adopting digital technology, Bidstream, South Africa’s first homegrown developed online property auction website, had already moved to offer buyers and sellers an additional property sales channel…
First-time buyers jump at opportunity to own property – 13 August 2020
According to recent research from home loan originator ooba, first-time home buyers increased by 12% in June, with the average age of buyers being 34…
First-time buyers opt for higher-priced homes as deposit requirements drop – 29 January 2020
Competition among the banks for new home loan business is not only making it easier for first-time buyers to obtain finance but encouraging them to buy more expensive properties…
FNB to stop issuing cheques from next year – 7 July 2020
FNB says that it will discontinue the issuing of cheques as of 1 January 2021…
Four tips for being a smart renter – 30 April 2020
Most of us will be a renter at some point during our lives. It may be a stepping stone for somebody leaving their parents’ home for the first time. Or, you may choose to be a renter rather than a home-owner for the long term simply because of the appeal of the flexibility and lower short-term costs that come with being a tenant. As a tenant, there are various tips and strategies to follow to safeguard yourself…
Franchise business owners feel lockdown pinch – 23 May 2020
From negotiating rental relief with landlords and royalty fees with franchisers to asking for relaxed loan repayments with banks, franchise operators are battling to survive the Covid-19 lockdown as trade continues to be restricted…
FRUSTRATED PROPERTY INDUSTRY SAYS CAPE TOWN’S DEEDS OFFICE CLOSURE JUST A TIP OF THE ICEBERG – 12 August 2020
The Western Cape Minister of Finance and Economic Opportunities, David Maynier recently called on the Minister of Agriculture, Rural Development and Land Reform Thoko Didiza to urgently intervene in the repeated and unnecessary closure of the Cape Town Deeds Office…
FURTHER REPO RATE CUT ANNOUNCED [COMMENTARY] – 23 July 2020
The South African Reserve Bank has announced a further reduction in the repo rate by 25 basis points. This brings the prime interest rate down to 7%…
Further repo rate cut mooted at next MPC – 18 September 2020
The South African Reserve Bank on Thursday left the door open for a final rate cut before Christmas after two members of the Monetary Policy Committee (MPC) voted in favour of a 25 basis point rates cut…
Government wants SARS to withhold your tax return until you’ve paid your utility bills – 9 September 2020
The South African Local Government Association (SALGA) is considering a number of new measures to improve municipal revenue collection across the country…
Helpful home loan hints for repeat buyers – 24 January 2020
An increasing number of homeowners who have lived in large family homes for 15 or 20 years are now selling and moving to smaller properties…
Here’s how many South Africans are falling behind on their rent – 20 September 2020
The percentage of total tenants that were recorded as being in good standing with their landlords dropped sharply in the second quarter of 2020, data from credit bureau TPN shows…
Here’s how much money you will save on a R1 million bond with rates at historic lows – 23 July 2020
With the interest rate at its lowest in decades, it may now be more financially prudent to buy rather than rent a home…
Here’s what South Africa’s rental property market will look like after lockdown has ended – 9 May 2020
Seeff Property Group believes that the residential market will boom once the full lockdown is lifted in terms of activity, but rental rates will come under tremendous pressure…
HIPSTURBIA – A GENERATIONAL PROPERTY TREND – 10 November 2020
With a vast number of factors influencing where and how we choose to live, one of these is most certainly when we were born and, the context in which we grew up. Millennials, between the ages of twenty-four and thirty-nine, account for almost 30% of the total population according to Statistics SA, representing the largest generation to enter the country’s workforce (51%)…
HISTORIC LA CONCORDE TO GET A NEW LEASE ON LIFE – 26 October 2020
La Concorde in the Cape Winelands town of Paarl will be getting a new lease on life. Property developers, the Giflo Group have big plans to revitalise the one-time head office of KWV. The KWV building, as it is still known, is a landmark in Paarl’s Main Road…
Hot water generation – best solutions for SA commercial sector – 5 August 2020
The national building regulations specify that at least 50% of the annual hot water generation volume be provided by means other than electrical resistance heating elements. These regulations were implemented in 2011…
House price growth slows to decade low as coronavirus throttles demand – economist – 7 May 2020
South Africa’s annual house price growth fell to 1.9% in April, down from 2.5% (revised from 2.8%) in March, according to the latest FNB Property Barometer released on Thursday…
House prices set to climb in South Africa after record months – 2 October 2020
After three months of record-breaking sales post hard lockdown it is clear that South Africa’s property market is on the rebound after the coronavirus lockdown…
HOUSEHOLD MORTGAGE ADVANCES SHOWING EARLY SIGNS OF ACCELERATION – 2 November 2020
The commercial property-driven corporate mortgage advances growth rate has significantly outpaced the strongly residential driven household mortgage advances category since early 2014. However, the strong recent divergence in strength between the now relatively strong residential property market and the weaker commercial property market may see household mortgage advances become the relative ‘outperformer’ in the near term…
Housing sales drop drastically due to Lockdown, urgent call to reclassify – 15 May 2020
After over a month in Lockdown, the economic impact of COVID-19 is no longer speculation at this point, but rather proven fact says RE/MAX of Southern Africa…
How being married in community of property impacts your debts as a couple – 8 August 2020
Understanding how your marriage contract will impact the management of your family’s finances is essential to a happy marriage and a secure financial future…
How much is your property worth? 5 valuation types to know and understand – 25 October 2020
Pricing correctly from the start is vital – so start by knowing the different types of evaluations and setting your asking price being well-informed about what your property is truly worth…
HOW REAL IS YOUR RIGHT – 25 May 2020
The allocation of rights to the exclusive use of a part or parts of a sectional title scheme’s (“scheme”) common property is somewhat of a contentious topic in communal living in South Africa…
HOW TO DEAL WITH NOISE DISTURBANCES IN YOUR SCHEME – 9 September 2020
Living in a sectional title scheme has many advantages but one very distinctive disadvantage is being exposed to noise disturbances…
HOW TO GET DEEDS OF SALE SIGNED REMOTELY DURING LOCKDOWN WHEN THERE ARE NO PRINTERS AND SCANNERS – 16 April 2020
The problem arises because the Alienation of Land Act requires a deed of sale to be signed by both the buyer and the seller, and digital signatures are not sufficient to bring about a binding deed of sale. For a deed of sale to be binding, signatures need to be handwritten…
Ignoring tenant water consumption will pose significant risk for landlords – 2 March 2020
Managing utilities will be one of the top priorities of governments around the world for the next decade. South Africans are now living in a country where the provision of water and electricity is far from predictable and we must expect harsher regulations to curb wastage…
Impact of Covid-19 on location choice and future living spaces – 12 May 2020
Dr Andrew Golding, chief executive of the Pam Golding Property group, considers how the Covid-19 pandemic and ensuing economic crisis will impact on our choice and location of accommodation and living spaces…
In Times of Great Change, Make Sure Your Will is Updated ! – May 2020
Particularly in these times of pandemic, deadly infections and uncertainty, no one can ever say with any confidence that we will still be alive tomorrow, or next month, or next year. Now more than ever having a valid and updated will in place is no luxury to be attended to “when I have the time” or “when I am older”…
IN-PRINCIPLE LEASE RENEWAL APPROVAL GRANTED TO RONDEBOSCH GOLF CLUB – 21 October 2020
The City of Cape Town’s Mayoral Committee have granted an in-principle approval of the lease renewal application of the Rondebosch Golf Club which includes the addition of a cancellation clause…
Introduction to the POPI Act for Community Schemes – 29 July 2020
The Protection of Personal Information Act, No. 4 of 2013 (POPI Act) is now in operation, as from 1 July 2020. What does this mean for community schemes such as sectional title developments, homeowners associations and retirement villages?…
Is buying off-plan the best avenue to enter the property market? – 25 May 2020
Buying property off-plan is a great way for first-time homebuyers to get a foot on the property ladder. It comes without transfer duty as there is no prior owner, and the VAT is included in the purchase price. For these same reasons, it is also an appealing option for someone looking to purchase an investment property that can be rented out to generate income…
Is the PIE Act applicable in the case of homestay rentals? – 13 October 2020
The recent protest occupation of a Camps Bay guesthouse in Cape Town has sparked serious concerns for short-term accommodation landlords in terms of their ability to evict a non-paying tenant…
Is the tax deduction for home expenses fair in its application in light of Covid-19? – 3 October 2020
The Covid-19 national lockdown has resulted in more employees having to work from home. Due to cost-saving factors and the uncertainties around the pandemic, employers have now begun looking at the option of having their employees work from home indefinitely…
It’s my life right? – 7 January 2020
Retirement Villages are trending on the property front and potential Life Right Holders are spoilt for choice when it comes to choosing where to settle down for their retirement…
KENILWORTH VILLAGE – THE REVITALIZATION OF AN HISTORIC NARRATIVE – 4 November 2020
Kenilworth Upper is one of Cape Town’s oldest suburbs with a rich architectural fabric. At the heart of the area, sits Kenilworth Village – its Main Road which provides a high-street style shopping environment…
Key macro impacts of government finance on commercial property market – 2 November 2020
In the recent Medium-Term Budget Policy Statement (MTBPS), National Treasury laid out its GDP (gross domestic product) growth projections to 2023. GDP growth is forecast to decline by -7.8% in 2020, before “partly recovering”, growing 3.3% in 2021, 1.7% in 2022 and 1.5% in 2023…
KNOWING THE DIFFERENCE BETWEEN THE PROPERTY VALUATION TYPES – 23 OCTOBER 2020
With the easy access of available information, comes the risk of misinformation and disinformation sending DIY knowledge-seekers on a wild goose chase. The property industry is far from immune to the impact of incorrect or misleading information…
Knowing your rights and obligations as a tenant in South Africa – 8 November 2020
With South Africans being forced to tighten their belts even further this year, it’s becoming increasingly important for consumers to learn where and how they can save money and the rental arena is no exception…
LAND EXPROPRIATION – FRIEND OR FOE? – 26 October 2020
Earlier this month, Cabinet approved the Expropriation Bill and sent it to Parliament for adoption. This prompted a revived deluge of negative press, fears of government-approved land grabs and visions of a fast forward to Zimbabwe-style land losses. No such perceptions are warranted or correct, as the short discussion below highlights…
Landlord-tenant collaboration key to continuity in retail property sector – 24 April 2020
It is now very clear that the coronavirus pandemic and widespread lockdown responses have negatively impacted global economies and will likely continue to do so for some time to come. In South Africa, this negative impact has hit the property sector especially hard, particularly given that it was already under pressure before the outbreak…
Leases, Contracts and COVID-19: What is Force Majeure? – May 2020
The COVID-19 crisis has changed everything. Our personal lives have been upended and our businesses hit hard.
And with many businesses operating out of leased premises, a great many landlords and tenants are asking themselves what happens if the crisis leaves a tenant unable to pay the agreed rental…
LESS KNOWN POTENTIAL LIABILITIES FOR GRANDPARENTS – 29 September 2020
The Supreme Court of Appeal recently reaffirmed the common law position regarding a grandparent’s maintenance obligation towards their grandchildren. In the judgment of Phillipa Susan van Zyl N.O. v Keith Getz N.O. (6 July 2020)…
LEVEL 3 NEWS – 29 May 2020
The new regulations relating to Level 3 arrangements have been published. Note that these new regulations do not repeal the 29 April 2020 regulations and these must therefore be read together to get the full picture…
LEVEL 3 REQUIREMENTS FOR ESTATE AGENTS – 31 May 2020
Since the good news that many businesses may again operate under the Level 3 regulations that become effective on 1 June 2020, many questions have been raised by agents as to their responsibilities. Here is a list of important requirements:…
Level 3: Opening of real estate industry brings relief for estate agents – 1 June 2020
Estate agents will be relieved to go back to work in June under Alert Level 3 in terms of the new regulations published on 28 May.
Lockdown Lessons: Slow return anticipated to a new-normal – 8 May 2020
As part of our # Lockdown Lessons series, Bizcommunity is reaching out to South Africa’s top industry players to share their experience of the current Covid-19 crisis, how their organisations are navigating these unusual times, where the challenges and opportunities lie, and their industry outlook for the near future…
Lockdown Lessons: Disruption brings opportunity – here’s what’s happening in property – May 2020
It is safe to say that almost every economic sector in the country has in some way been affected by the impact of the Covid-19 lockdown. And while it’s too soon to make accurate predictions on the impact the national lockdown and the global Covid-19 pandemic will have on the property market in the medium- to long-term, it is sure to disrupt the industry in one way or another…
Lockdown! Nuisance Neighbours and How to Handle Them – June 2020
Tensions between neighbours are no doubt at an all-time high, and whether you are working from home or just trying to stay sane until our “new normal” starts kicking in, you are no doubt noticing more than ever all those little irritants from next door that would normally fly below your radar or at least be tolerable…
LODGMENTS AT CAPE TOWN DEEDS OFFICE – 19 May 2020
It appears that from 21 May 2020, the Cape Town Deeds Office will again be accepting new lodgements…
Low interest rate, realistic pricing sustaining buoyant property market – 20 November 2020
As anticipated, the Monetary Policy Committee (MPC) kept the repo rate on hold at its meeting this week. While interest rates have already been reduced by 300 basis point for the year to date, to a near 50-year low of 3.5%, several analysts argued that there was in fact room for a further rate cut at this week’s MPC meeting…
Lowest prime rate in decades driving tenants towards home ownership – 6 November 2020
Currently at 7%, the prime rate is at its lowest level in decades, driving more South African tenants to consider property ownership…
Making a Bequest In Your Will To A Beneficiary Who Is Married In Community Of Property – 22 January 2019
When you make a bequest in your will to a beneficiary who is married in community of property, the inheritance will fall into the joint estate of that beneficiary and his or her spouse. If a testator seeks to avoid this result, the will must expressly state that the bequest is excluded from that beneficiary’s joint estate which he or she shares with his or her spouse…
Massive new development in KZN set to create over 36,000 jobs – 25 September 2020
The City of eThekwini has signed a memorandum of agreement to create the Brickworks Development in the Avoca Development Node, north of Durban…
Massive petrol price cut expected next week – 28 April 2020
The latest data from the Central Energy Fund points to a massive cut in the petrol price for motorists in May, which presents good news for some sectors of the economy due back at work beginning next week…
More public land released for restitution, redistribution – 12 June 2020
Over the past three months, numerous parcels of land have been released by the Department of Public Works and Infrastructure (DPWI) for human settlements development, land redistribution and restitution…
NATIONAL HOME BUILDERS REGISTRATION COUNCIL TO REOPEN OFFICES NEXT WEEK– 1 June 2020
The National Home Builders Registration Council will resume offering its full service operations at its main Provincial Offices as of Monday, 8th of June 2020 in line with the Level 3 Lockdown Regulations…
New extension for drivers and car licences in South Africa – 20 May 2020
The Department of Transport has published a new directive which outline the validity of motor vehicle licences and registrations during South Africa’s 21-day lockdown…
New laws proposed for South Africa – including changes to marriages -10 June 2020
The National Assembly has passed a number of new bills dealing with a range of issues including marriage, criminal offences and social justice issues…
New Property Sector Council formed – 21 April 2020
A new representative council has been formed to provide a single voice for property practitioners to speak with authority on issues connected with the property industry…
New recovery textbook needed for post-Covid real estate landscape – 17 June 2020
Clawing back from the devastating global cascade of the sub-prime collapse of 2008/09, the real estate market had a tried and tested economic textbook roadmap and traditional real estate models to successfully guide the process. However, as the modern business world has never had to contend with a global pandemic, the real estate industry, still adapting to digital and millennial disruptions, is going to have to write a new recovery textbook, says Yael Geffen, CEO of Lew Geffen Sotheby’s International Realty…
New study shows sustainable wood-based housing market possible in SA – 28 September 2020
Researchers at Stellenbosch University (SU) found that South Africa has sufficient log resource options for a sustainable wood residential building market…
New vision for real estate in which all can win – 8 June 2020
The real estate industry will no doubt look very different by the end of this year to the way it looked before the Covid-19 pandemic – but in many cases, the changes made will be extremely positive for estate agents and principals as well as their clients because of the potential for both better service and greater rewards…
NEWLY FOUND ‘BUYER EXUBERANCE’ EVIDENT IN RESIDENTIAL MARKET – 16 September 2020
The FNB House Price Index (HPI) has highlighted an annual house price growth acceleration in August, reaching 2.8% year-on-year and up from 1.8% in July (revised up from 1.4%). The rebound in prices is supported by the unexpected rapid recovery in market activity since the easing of lockdown restrictions…
NHBRC regional offices to resume, satellites phased in – 1 June 2020
While the National Home Builders’ Registration Council (NHBRC) provincial offices will resume full service operations next Monday, 8 June, satellite offices will be phased in gradually…
NO FFC, NO COMMISSION – UNLESS YOUR DUCKS WERE IN A ROW – 17 June 2020
In accordance with the Estate Agency Affairs Act 112 of 1976, Estate agents are not entitled to earn commission on transactions they negotiated successfully if they were not, at the time of conclusion of the agreement, in possession of a valid Fidelity Fund Certificate…
However, In an important judgment handed down by the Supreme Court of Appeal last week, it was held that in certain very narrow instances, an estate agent will not be precluded from claiming commission where the Fidelity Fund Certificate was not in place at the relevant time…
ONE WORLDWIDE WILL OR SEPARATE WILLS? – 9 September 2020
Is it a problem if I only have one will in respect of my worldwide assets? AND Are there any benefits to having a separate will in each country where I own assets? …
Options to Renew Leases – Risks for Tenants and Landlords – 15 September 2020
Leases often give tenants an option to extend or renew at the end of the current term, and tenants who lose sight of the value and importance of such an option are flirting with disaster…
Owner not paying levies: What should the body corporate do? – 21 January 2020
Owning property in a sectional title scheme has the advantage that all owners contribute to the maintenance of the scheme, to the obvious benefit of all…
Parking Bay Disputes – Enforcing Complex Rules – 2 November 2020
There are many advantages to living in residential estates and sectional title developments, but there are also rules and responsibilities…
PayProp notes massive jump in average rental arrears from March to April – 2 June 2020
According to the first PayProp Rental Index for 2020, during March 2020, just over 20% of tenants were in arrears, increasing to almost 24% in April. Johette Smuts, head of data and analytics at PayProp SA, says the average size of arrears jumped from 78% of monthly rent in March to a whopping 84% in April…
POPI SHORTLY IN OPERATION – 22 June 2020
President Cyril Ramaphosa today announced the commencement dates for most of the remaining parts of the Protection of Personal Information Act. The Act has been put into operation incrementally, with a number of sections having been implemented in April 2014 already. Most of the remaining provisions could only be put into operation at a later stage as they require a state of operational readiness for the Information Regulator to assume its powers, functions and duties in terms of the Act…
POPIA’s impact on the estate agent-property buyer relationship – 12 August 2020
Real estate players: As a responsible party you must also be POPIA compliant. You are also encouraged to include compliancy clauses in your service agreements with third-party vendors and should review all such existing contracts to ensure compliance…
Post-lockdown rental market boom – 5 May 2020
The residential market will boom once the full lockdown is lifted in terms of activity, but rental rates will come under tremendous pressure…
PRESSURE REMAINS ON COMMERCIAL PROPERTY MARKET POST-LOCKDOWN – 16 October 2020
The national lockdown and deep recession have taken a toll on the commercial property market, dragging capital growth deeper into negative territory in the first half of 2020…
PROFESSIONAL INDEMNITY COVER FOR ESTATE AGENTS A MUST TO AVOID PITFALLS – 23 July 2020
In an environment of ever-increasing requirements, property professionals strive for better transparency, disclosure, accountability, and governance. Professional indemnity cover in real estate is similar to medical malpractice cover for the health industry…
Property co-ownership | What happens when your partner dies? – 29 June 2020
My husband has died. We own our property 50/50, I am sole beneficiary. We are married out of community of property. I understand that property needs to be transferred to myself as sole owner…
Property investment – to sell or not to sell – 5 August 2020
Every investor will at some point be confronted with making a decision on whether or not to sell a long-term asset such as a property. This can sometimes be a challenging decision for an investor, more so for a novice investor, amid tough economic times…
PROPERTY MARKET TO BRACE THE TOUGH TIMES AS IT ENTERS A RECOVERY PERIOD – 9 October 2020
The property market has shown some steady signs of recovery after being brought to a complete standstill due to the national lockdown during the second quarter of 2020…
Property may not notice short-term impact of recent repo rate cut – 22 May 2020
The recent repo rate cut of 50 basis points brings the cumulative repo rate reduction in the current rate cutting cycle to 3 percentage points. Meaningful property demand boost emanating from interest rate cutting specifically is not expected, but it is still believed to be an important source of support for the property market.
Property Subsidence: New Law, Strict Liability and Ubuntu – August 2020
It’s every homeowner’s nightmare – your property starts subsiding and as the tell-tale cracks in the living room widen alarmingly, it begins to dawn on you that your whole house is at risk of collapse…
Property trends: Living in a ‘quarantine bubble’ – 19 October 2020
With Covid-19 forcing many people to spend the majority of their time at home, it has become more than a sanctuary. Homes have now evolved into what are being dubbed ‘quarantine bubbles’…
Pros and cons of inheriting a legacy property – 28 September 2020
The celebration of Heritage Month each September creates a conducive environment for all South Africans to embrace and celebrate what has been inherited or bequeathed to us. One such inheritance is the gifting of property to family or a charity…
Pros and cons to converting a garage into a granny flat – 30 September 2020
To cut costs, the easiest solution to accommodate an additional family member is to work with whatever space a household already has, which often leads to a garage conversion…
Province goes to court over River Club ruling – 30 October 2020
In the latest battle over the planned mega-development at Observatory’s River Club, the Heritage Western Cape Appeal Tribunal is being taken to court by the Western Cape Department of Transport and Public Works…
Purchasing property post lockdown – 29 April 2020
Here’s what property buyers need to know about the way forward after SA’s lockdown…
Real estate agents can work again! – 28 May 2020
The Covid-19 crisis united South Africa’s real estate sector as never before in our history and the hard work has paid off – on Monday 1 June all property professionals may once again go outside to sell properties on condition of adhering to strict safety protocols to keep them and the buyers and sellers safe from infection with the novel coronavirus…
Real estate, home loan industry performs better than expected – 1 June 2020
The recent interest rate cuts have stimulated interest among buyers. Even though the market is under pressure, we have unlocked a new buyer in the market, add to that the house prices will not be growing, it’s the best time to buy…
REBOSA Covid-19 Workplace Readiness Guidelines – 28 May 2020
The following guidelines and templates can be used by the real estate industry for their workplace plans…
Reckless Trading and Personal Liability in the Time of Coronavirus – June 2020
The COVID-19 pandemic and its ongoing economic fallout have left many businesses struggling with cash flow and even viability challenges. The result is that an increasing number of companies are either trading in insolvent circumstances, or in grave danger of doing so…
Reduction of exempt foreign earned income and the ever widening tax net – 11 February 2020
As a general rule, South African tax residents are taxed in South Africa on their worldwide income. Relief is however provided through an exemption introduced in 2000 aimed at preventing double taxation by exempting foreign earned income provided that certain requirements are met…
Report Your Traffic Accident with an Online Reporting Service – February 2020
No longer – life just got a little bit easier with the new online reporting service from NaTIS (the National Traffic Information System)…
Research key to decision-making in currently ripe property market – 28 October 2020
Despite the impact of Covid-19 and the tightening of economic activity, property remains a sound investment, according to Lightstone…
Residential property demand-supply gap narrowing says FNB – 13 January 2020
After a slow start to the year, the combination of a mild improvement in demand, progressive mortgage lending as well as attractive market pricing supported the residential property market in 2H19
Residential property shift sees sellers extend buying pool internationally – 16 September 2020
With no international travel permitted during the Covid-19 lockdown, properties in sought-after areas such as Camp’s Bay and the Atlantic seaboard in Cape Town are now listed at a steal, says Grant Smee, MD of Only Realty…
Residential property: ‘Spec’ investors giving way to owner-occupiers – 11 August 2020
The current property market is displaying interesting new trends. One of the most welcome is that although the lower prices and even lower interest rates have created a real buyers’ market, quick in-and-out buyers are no longer nearly as evident as they were 12 to 24 months ago…
RESIDENTIAL RENTAL MARKET STILL PRESSURED BY WEAK ECONOMY, LOW INTEREST RATES – 29 October 2020
With the home buyers’ market buoyant and still being driven by sharply lower interest rates, the September Consumer Price Index (CPI) inflation numbers continue to point to a battling residential rental market which is being hampered by tenants who are financially pressured by a deep recession and ‘outcompeted’ by the home owner market due to the dramatic reduction in interest rates earlier this year…
Rise of the hybrid office – 2 November 2020
For companies around the world, Covid-19 lockdown has forced rapid change. Where there was reluctance to adopt remote working and hybrid workspaces pre-pandemic, lockdown made this a non-negotiable..
Rules, regulations to consider before moving a business into your home – 23 October 2020
The economic impact of Covid-19 has seen many small business owners around the world terminating their leases at shopping centres and office buildings and seeking more affordable options, including working from their homes…
Running a Business in a Residential Area – Check Your Zoning First! – March 2020
You decide to open a home business, or perhaps you are about to buy a house in order to run a business from it. You apply for rezoning but the council is taking forever to decide…
SA AFFORDABLE HOUSING THE CONVEYANCER’S OPTIONS WHEN THE DEEDS OFFICE REJECTS DEEDS FOR THE WRONG REASON: PART 1 – 28 October 2020
The Deeds Office is undoubtedly the civil service office served by the most productive and committed civil servants in the whole of our civil service with regard to the processing of designated workloads…
SA AFFORDABLE HOUSING UNPACKING THE HOUSING ACT AND STATE SUBSIDIES – 28 October 2020
The Housing Act prevents the voluntarily sale and transfer of a FLISP subsidy house within eight years from date of acquisition…
SA house price growth drops again – but for some, it’s the chance to find a dream home – 12 May 2020
South Africa’s housing market, already battling headwinds, can expect further shocks in the coming months, analysts have warned. According to the latest FNB Property Barometer released on Thursday…
Sale of property from a deceased person’s estate – 13 January 2020
It is not uncommon for an estate agent to be involved in the marketing of a property which is an asset in a deceased person’s estate. But buying from a deceased estate can, at times, discourage an eager property buyer or investor due to the fact that such transfers are likely to take longer to finalise than ‘normal’ sales.
Sectional title schemes aren’t exempt from lockdown rules – 9 April 2020
In light of the national lockdown, which has been precipitated by the COVID-19 pandemic, there has been widespread uncertainty regarding what trustees of sectional title schemes can do and what they cannot do…
Sell fast – there’s another real estate slowdown on the way – 15 September 2020
The bond that prospective South African homeowners can afford will depend on a number of factors, including their actual take-home pay as well as how much of a deposit they put down…
Seller advice: Keep calm and let your agent negotiate – February 2020
Contrary to popular belief, the bottom line in contract negotiations is not always the bottom line, especially in real estate. When selling a home, for example, the price to be paid is usually the major consideration, but it is worth noting that sale agreements can and regularly do fall apart when parties fail to agree on non-price terms of the contract…
Seller advice: Take every offer seriously – May 2020
With interest rates at their lowest levels in decades and a huge choice of inventory, many home-buyers and investors feel that this might be a good time to pick up a bargain property or two, and are “trying their luck” with really low offers to purchase…
Selling property subject to an existing lease agreement – 18 February 2020
One often deals with transactions where a property that is leased to a tenant, is sold. The question then arises as to what the rights of the tenant, seller and purchaser are…
Several contributing factors set to potentially see property market through these tough times – 24 November 2020
When it comes to property, there are several factors contributing to the market’s current resilience that will continue to bolster it through these tough times. Affordability is one of the biggest of these contributors…
Sharp 2% rate cut needed instead of 5 staggered cuts planned up until 2021 – 13 May 2020
The Real Estate industry could provide much-needed economic stimulus, with the impact of Covid-19 showing rising House Price inflation as SA heads for deep recession…
SINGLE WOMEN DOMINATE SOUTH AFRICA’S FIRST-TIME HOME BUYERS MARKET – 25 August 2020
Women are the leading gender in the first-time home buyer market in South Africa. According to Hayley Ivins-Downes, this trend has held true between 2015 and 2020…
South Africa’s property sales highest in six years – where people are buying – 8 August 2020
While the market has picked up significantly and Seeff ended July with the highest sales in six years, buyers putting in low offers are left disappointed, says Samuel Seeff, chairman of the Seeff Property Group…
Spectacular ‘tiny homes’ are popping up all over South Africa – 5 August 2020
As the “tiny house” movement sweeps across the world, the demand for luxurious, small homes is also growing in South Africa…
SPLUMA Certificate Confusion – 5 May 2020
Some confusion created by recently published press articles about the requirement to have a “SPLUMA certificate” … The articles suggest that all property transfers require a SPLUMA certificate … In reality, only some property transfers require a certificate issued in terms of section 53 of SPLUMA (“SPLUMA Certificate“) and similar certificate requirements already existed under older legislation even before the enactment of SPLUMA …
Steep new tariff hikes for Joburg, Tshwane and other cities, while Cape Town faces less pain – 12 July 2020
South Africans are facing steep municipal tariff hikes for the next year, as some of the country’s large cities struggle to balance their books…
Stone castles can be tough to renovate – 14 October 2020
You’re in the market for a new home, and your estate agent takes you to see a series of houses that are totally out of your price range or that tick none of your boxes…
Survey reveals 37% of residential tenants can afford to pay rent in full – 20 May 2020
The FlowFindings survey has uncovered the staggering statistic that only 37% of South African tenants can afford to pay their rent in full – and a significant 22% cannot pay their rent at all…
Tapping into your property’s equity for an extra boost of funds – 18 August 2020
With the number of interest rate reductions this year, a home loan or ‘bond’ is starting to look like a really attractive option if you need to access a large amount of cash, and fast. We’re not talking about selling your home but rather accessing some of the equity in your property…
TAX TIPS FOR LANDLORDS – 9 September 2020
Owning a rental property portfolio which provides income is like owning a business. There are tax implications and dues that need to be paid to the South African Revenue Service (SARS)…
The ‘virtual’ reality of shopping online for a property – 20 April 2020
The ins and outs of searching for a home in this new reality. Despite the precarious economy, and because of what the global pandemic has manifested, lockdown has reintroduced property owners to their homes, which may be a blessing or a curse…
The ‘reprieve’ that is no reprieve – 20 August 2020
The Estate Agency Affairs Board (EAAB) announced on the 14th of February that 87 agents benefited from a special re-admittance practice note published in June last year. This is to accommodate agents who have not applied for renewal of their Fidelity Fund Certificates (FFC) for three years or more and allows them to pay the “debt” over 6, 12 or 16 months…
The 10 most popular estates in South Africa to retire to – 20 September 2020
New data from analytics group Lightstone shows which estates in South Africa are drawing the most retirees.
According to Lightstone, which has been tracking the retirement property industry for the last 20 years, the sector has evolved from limited options to now include an array of lifestyle estate options, sectional title or lock-up-and-go as well as the upmarket coastal home…
The Burning Rent Question – April 2020
Landlords are confronted with the question of whether to excuse their tenants’ performance, the possibility of renegotiating payment terms and making amendments to the rental lease, and whether or not to pursue immediate defaults and take necessary legal action. Tenants, on the other hand, are frantically looking towards landlords for financial assistance while some are even preparing legal defences against non-payment, including the claim that the lockdown constitutes a force majeure or vis major event…
The court case all dog owners in South Africa should know about – 13 September 2020
A new judgement from the Supreme Court of Appeal will have major implications on the rights and responsibilities of dog owners in South Africa…
THE DIFFERENT WAYS TO PURCHASE PROPERTY – NATURAL PERSON, COMPANY OR TRUST? – 22 OCTOBER 2020
There are three different forms of homeownership in South Africa which include owning a home as a natural person, a company or, as a trust. Each option has its own set of pros and cons and it is important to understand each option before proceeding with the purchase…
THE ESSENTIAL CHECKS BEFORE PURCHASING YOUR FIRST HOME – 9 October 2020
The process of purchasing your very first home can be an overwhelming experience with the overload of information and procedures you need to familiarise yourself with…
The house you can afford on the average South African salary right now – 14 September 2020
The bond that prospective South African homeowners can afford will depend on a number of factors, including their actual take-home pay as well as how much of a deposit they put down…
THE IMMORTAL SURETYSHIP AND THE POTENTIAL FINANCIAL RISKS THESE POSE – 8 October 2020
In adulthood, we will be exposed to sureties in one form or another. Whether this requires a partner, spouse, or parent to stand surety to qualify for a home loan or, standing surety for a facility granted to a company. Occasionally, surety just forms part of a contract, a loan, or an instalment finance agreement which one enters…
The impact of the SPLUMA Act on property transfers – 16 April 2020
The Spatial Planning and Land Use Management Act 16 of 2013 (SPLUMA) which came into effect in 2015 was established to provide a uniform system of spatial planning and land use management throughout South Africa in order for municipalities to apply land use control…
THE INS AND OUTS OF DISTRESSED PROPERTY SALES – 11 November 2020
The increase in the number of distressed property sales owing to the lockdown and a rising unemployment rate is an unfortunate reality. Some of these property sales require a bit of work but they do provide cash-strapped buyers with the opportunity to enter the property market while rescuing the sellers from their debt.
The legal case all South African newlyweds should know about – 10 October 2020
South Africa’s High Court has recently dealt with a case involving the sanctity of the marriage and the importance of saying ‘I do’…
The most expensive streets and suburbs in South Africa – 27 April 2020
Research group New World Wealth has published its South African wealth report for 2020, highlighting where some of the country’s richest people choose to live. As part of the group’s research, it looks at the price of property per square metre in prime property areas across the country…
THE NEW STSMA – A MIXED BLESSING FOR LOCAL COMMUNITY SCHEMES – 12 October 2020
When the Sectional Titles Schemes Management Act (STSMA) was signed into law on 7 October 2016, it shook up the lives of many body corporate members”…
THE PITFALLS OF NON-REGISTERED AGENTS – 21 OCTOBER 2020
With the summer holiday season approaching, areas along the coastal region will experience an influx of non-registered agents offering deals that are too good to be true on managing clients’ holiday rental properties. The trouble with this is that these clients will have little to no legal recourse against these agents if they turn out to be con artists…
The Property Practitioners Act – Draft SUMMARY – 6 January 2020
Property Practitioners Act: SUMMARY: What is the Property Practitioners Act?
[this article was first published January 2020]…
THE RADISSON HOTEL GROUP LAUNCHES TWELFTH HOTEL IN SOUTH AFRICA – 3 November 2020
The Radisson Hotel Group has debuted its fourth brand in South Africa, the Radisson Hotel & Convention Centre, Johannesburg, O.R. Tambo. The new edition further strengthens the group’s presence in one of its key African markets, bringing the company’s South African portfolio to sixteen hotels in operation and under development…
The real estate industry asks government to reconsider level 4 restrictions – 4 May 2020
After hearing confirmation that the real estate industry will not be reclassified to operate under level 4 of lock down restrictions, the real estate industry has joined forces to implore government to reconsider, explaining that this decision affects not only the thousands that are employed within this sector, but also has a far reaching impact on the economy as a whole…
The recession and the future of corporate real estate – 5 March 2020
The announcement of South Africa’s third recession since 1994 has sent shock waves across the country. While we all saw it coming, the market shrinkage reported by Stats SA confirms one thing: we have now reached our lowest point since 2009…
The right property price matters – here’s how to get it right – 14 September 2020
While some sellers believe listing the property price higher than the market average is the best strategy because it allows for downward negotiation, it is rare that this strategy works…
The transfer and registration process during lockdown restrictions – 13 May 2020
While the Deeds Office may operate during lock down level 4, the transfer and registration process will look a bit different under the current restrictions…
THE WESTERN CAPE KEEPS ‘MOST EXPENSIVE RENTAL PROVINCE’ THROUGH COVID-19 – 31 August 2020
The current data is a clear indicator of the effects of the national lockdown on rent levels, rental growth, and arrears in South Africa…
There is a change in the way people are buying property in South Africa – amid a massive spike in home loan applications – 17 July 2020
The property sector saw a big jump in home loan applications in June, data from bond originator, Ooba shows. The second quarter of 2020 (Q2 20) commenced with two months of lockdown for the real estate industry. Estate agents were only allowed to resume work on 1 June under Alert Level 3, with home buying accelerating in June due to pent up demand created by the lockdown as well as historically low interest rates…
These are the most expensive South African cities to live in – 11 July 2020
Numbeo has published its Cost of Living Index for mid-year 2020, ranking the most expensive cities in the the world, including five in South Africa…
This bungalow on Clifton beach has just sold for R18 million – 19 June 2020
A South African buyer has snapped up the ocean-level Clifton 3rd Beach bungalow on the Atlantic Seaboard in an auction held earlier this month. The property, which is one of only seven properties with direct beach access, sold for R17.84 million.
This Clifton parking bay is selling for R1.1 million – 24 June 2020
A parking bay off Victoria road in Cape Town’s suburb of Clifton has gone on sale for R1.1 million – or around R78,500 per square metre…
This is how much the average house costs in South Africa – and why banks will offer favourable home loans in 2020 – 20 January 2020
Data from home loan comparison service, Ooba, shows minimal growth of 1.8% in the average house price year-on-year from Q4 2018 to Q4 2019.
This little tax-haven island off England is/has become a popular spot for South Africans to invest – 5 July 2020
Managing one’s investments in the midst of a pandemic is no easy task, no matter where you reside. South Africans, however, face a far more complex environment when considering where their money is safest in a post Covid-19 world. Confidence in the local investment landscape is markedly depressed…
Tips for keeping the house clean and tidy during the lockdown – May 2020
The COVID-19 pandemic and lockdown are stressful for everyone. You’re justified if you feel that keeping the house tidy is a low priority. However, a neat, organised home can actually help keep everyone reasonably sane and productive…
Top tips on how landlords can up their occupancy game – 30 October 2020
Being a commercial landlord in a post-pandemic world poses the challenge of how to provide occupants with secure, sustainable, and flexible spaces…
TRADING IN PROPERTY? THE SALE MUST BE ADVERTISED – 7 August 2020
Our law requires that when a trader sells any part of his business other than in the normal course, such trader must publish a notice of his intention to do so in order to protect creditors of the business.
HYDE CONSTRUCTION CC V K2013046547 (SOUTH AFRICA) (PTY) LTD AND OTHERS (9179/2019) [2020] ZAWCHC 31 (29 APRIL 2020)…
Tribunal slams province and city over River Club developments – 20 April 2020
The appeal against Heritage Western Cape’s two-year provisional protection of the River Club site in Observatory, where a mega-development is planned, has been dismissed in a scathing ruling against the provincial and city authorities…
UNLOCKING THE CONCEPT OF WEALTH CREATION THROUGH PROPERTY INVESTMENT – 11 August 2020
There is a lack of education and information related to property investment in South Africa and it is essential to work towards unlocking this concept of wealth creation…
UNMARRIED PARTNERS: WE HAVE YOUR BACK – 27 October 2020
Living together as husband and wife without concluding a civil marriage, whether as a conscious or unconscious choice, occurs in the vast majority of instances without appreciation of the consequences…
UPDATE ON CONVEYANCING ISSUES – 20 April 2020
The Cape Town Attorneys Association, referring to a note from the Chief Registrar of Deeds, confirmed that various communications have been addressed to the office of the Minister of Justice, motivating the re-opening of the Deeds Office as an essential service. We are currently awaiting the outcome of these submissions and our advices will follow as soon as positive details are known…
V&A’S R63M MAKERS LANDING TO LAUNCH IN DECEMBER – 2 November 2020
The V&A Waterfront’s 360-degree integrated farm-to-fork food experience, Makers Landing, is set to open its doors at the Cape Town Cruise Terminal (E-Berth) next month…
VALUE FOR MONEY IS KEY WHEN LEASING NEW BUSINESS PREMISES – 28 September 2020
Now more than ever, leasing office space for your business is daunting as the country transitions out of the national lockdown. With remote working part and parcel of our daily experience, both small and large businesses are scrutinizing lease agreements and asking the important question: Are we getting value for money?…
VICARIOUS LIABILITY – 13 October 2020
Can an employer be held liable for the theft of a client’s goods by one of its employees?…
Voluntary liquidation of a company – April 2020
The lockdown regulations in essence affected all business owners who do not provide essential services. Not being able to trade for more than a month might prove to be the final nail in the coffin for businesses, already under financial strain prior to the pandemic…
Warning issued to Joburg ratepayers and complex residents over levy payments – 28 August 2020
The City of Johannesburg has called on ratepayers who are financially distressed to approach it for payment arrangements or face being cut off…
WATER DAMAGE LIABILITY IN SECTIONAL TITLE SCHEMES: WHAT YOU NEED TO KNOW – 29 September 2020
A body corporate is responsible for the maintenance of the common property of the scheme which includes planned and unforeseen maintenance. Maintenance to water damaged areas tends to raise the question: “Who is responsible for the repairs after a leak has been discovered?”…
Weighing up buying versus renting property – 28 September 2020
Author: STONEWOOD Property Management 29 September 2020 WATER DAMAGE LIABILITY IN SECTIONAL TITLE SCHEMES: WHAT YOU NEED TO KNOW A body corporate is responsible for the maintenance of the common property of the scheme which includes planned and unforeseen...West Coast property owners could be ordered to demolish their houses – 29 January 2020
Five Elands Bay beach property owners have been served warning notices by the Western Cape’s environmental authorities for allegedly illegally building houses and other structures within the protected coastal zone…
What is a reasonable offer below the asking price of a property right now? – 9 August 2020
Looking to take advantage of the favourable property buying conditions and put in an offer to purchase, but not sure what would be a reasonable offer below asking price?…
WHAT SHOULD YOU KEEP IN MIND WHEN BUYING PROPERTY ON AUCTION? – 28 July 2020
An auction is generally described as a public sale in which goods or property are sold to the highest bidder. Banking institutions have traditionally used auctions to achieve successful sales of a property in respect of which a court order has authorised an execution sale…
What to look out for when property shopping for a home office – 19 August 2020
The traditional office space is fast becoming passé, with entrepreneurs the world over embracing remote work and distributed workforces especially during the Covid-19 pandemic…
What you need to know about tax if your job is commission-based – 9 August 2020
Commission earners who earn more than 50% of their total remuneration as commission income are not limited in the type of business expenses they can claim, as long as these are incurred in the production of their income and are not capital or personal in nature…
Why a recession is actually a good time to buy property – 29 October 2020
Now on Level 1 lockdown, it is hopeful that South Africa is on the path to economic recovery, however, there is still some way to go, with the economy anticipated to shrink by 7.8% this year. In terms of the property sector, the knock-on impact is that buyer confidence is low – something that cannot be attributed solely to the pandemic…
Why house prices in South Africa could see a big shake-up over the next year: expert – 27 September 2020
Even with all the home buying activity that is going on at the moment, it is too early to make a call on the real estate market…
WHY IS IT IMPORTANT TO HAVE A WILL? – 25 August 2020
Events which shape one’s life, such as marriage, the purchase of a property, the birth of a child, the death of a loved one, a divorce or emigration, all lead to a change in personal circumstances which may require the updating of your will…
Why market valuations should always be expressed as a range between two values – 13 May 2020
It’s chiefly during these times that the highest evaluation is seldom the best evaluation for numerous reasons – and should at least be tempered with a best case and a worst-case scenario, or the property will end up staying on the market for an extended time”…
Why pricing property correctly remains vital in currently buoyant market – 2 October 2020
In the currently active property market, driven by the historically low interest rate, sellers may be tempted to increase their asking prices, but this can be a big mistake…
Will the latest repo rate cut save already cash-strapped consumers? – 25 July 2020
The South African Reserve Bank (SARB) Monetary Policy Committee (MPC) announced another rate cut of 25 basis point rate this week, which most economists predicted…
WILL THE SURGE IN FIRST-TIME HOME BUYERS ENTERING THE RESIDENTIAL SECTOR LEAD THE RECOVERY IN THE PROPERTY MARKET? – 22 December 2020
The property market has seen vacancies rise and values drop, in some cases by up to 30% during 2020 with an unexpected surge in activity in ‘entry level’ residential properties…
You’ve been ‘blacklisted’ in South Africa – what now? – 22 August 2020
Many South Africans are experiencing some form of financial stress owing to the current financial climate. You may miss a credit card or loan repayment and when you try and open an account at your favourite clothing store or apply for a home loan, you may find out that you have been blacklisted…