AA - Mar 2021

Blow for activists in River Club development – 1 March 2021

On 22 February it was announced that Western Cape minister for environmental affairs and development planning (DEADPA) Anton Bredell had decided to dismiss appeals lodged against the environmental authorisation (EA) issued by his department in August 2020 for a proposed R4.5bn development in Observatory…

CAPE TOWN BOUTIQUE HOTEL TO GO UNDER THE HAMMER – 10 February 2021

The scheduled online auction of 40 Burg Street… a landmark heritage building in the centre of Cape Town, comes at a time when the city’s once-thriving traditional business hub faces a potential identity crisis.
This online auction which will close at 14:00pm (South African time) on Wednesday, the 17th of March 2021…

CONTAINER HOMES IN SOUTH AFRICA: HOW TO GAIN COUNCIL APPROVAL – 31 March 2021

The debate on container homes has gone back and forth for years. At face value, container homes are an obvious solution to addressing the affordable housing shortage and while the concept seems quite simple, there is still a large degree of uncertainty surrounding container homes with South Africans cautious to adopt the alternative building method head on…

HELPING YOUR CHILDREN ONTO THE PROPERTY LADDER – 1 March 2021

Getting onto the property ladder is one of the most important financial investments for younger generations. But, with the average age of South African first-time buyers around thirty-six, young adults may be struggling to raise funds for a deposit for their first home or, they may be nervous about making such a big financial commitment…

Now is the time to buy – but don’t leap before looking – 24 March 2021

With interest rates at record-breaking lows, property prices subdued but poised for a future upswing, and plenty of stock on the market to choose from, there has seldom been a better time to buy a home. Despite the enviable prospects, however, buyers should be cautious not to throw caution to the wind…

Predictable outcome as interest rate holds steady – 25 March 2021

The Monetary Policy Committee (MPC) has again announced that interest rates will remain stable, keeping the repo rate at 3.5% and the prime lending rate at 7%. This was a predictable outcome and, unless things take an unexcepted turn, interest rates are likely to remain steady for the remainder of the year…

Real estate under the spotlight: Is sustainability becoming mainstream? – 3 March 2021

Parliament’s portfolio committee on Agriculture, Land Reform and Rural Development has called for written comment on the Sectional Titles Amendment Bill.
The bill introduces a number of additional regulations which largely relate to the management and development of schemes including extensions and common property – with tenants and trustees less likely to be impacted…

Superhomes in South Africa are selling again, but at a fat discount – 6 March 2021

Between 30% and 50% of the high net-worth individuals (HNWIs) globally are planning to buy at least one additional luxury property within the next 12 months, compared to just 20% a year ago, according to the latest research conducted by Luxury Portfolio International (LPI) and Leading Real Estate Companies of the World (LeadingRE)…

What R1.5m buys you in Gauteng – 31 March 2021

In 2020, more than 95 800 properties were sold in Gauteng according to Property24 Trends Data, with the average sale price for the province being R910 000. The average sold price for an erf in 2020 was R1 million, while a sectional title unit average sold price was R8250 000 for the same period…

What R1.5m buys you in the Western Cape – 29 March 2021

In 2020, more than 53 000 properties were sold in the Western Cape according to Property24 Trends Data, with the average sale price for the area being R1.25 million. The average sale price per erf for 2020 in the Western Cape is R1.32 million, while Section Scheme Units average sale price for the same period is R1.1 million…