See latest COVID-19 updates on government website www.sacoronavirus.co.za.

ISSUING OF RATES CLEARANCE CERTIFICATES TO BEGIN AGAIN

Minister of Cooperative Governance and Traditional Affairs, Dr Nkosazana Dlamini Zuma, has amended Direction 6.7 of the Disaster Management Act 57/2002 with regards to municipal services and has ordained tha...

Can I move?

Alert Level 4 rules for tenants and landlords 30 Apr 2020 South Africa's lockdown is set to move to Alert Level 4 tomorrow, 1 May. The latest Regulations relating to the Schedule of Services and Framewor...

ZONING AND YOU: WHY IT IS IMPORTANT FOR AN ESTATE AGENT TO UNDERSTA...

In the recent decision of McKay and Others v Ursiweb (Proprietary) Ltd and Others (3510/2019) [2019] ZAFSHC 232, the court had to look at two questions:

Welcomed Surprise for the property Sector

THE MONETARY POLICY COMMITTEE CUTS RATES AGAIN - UPDATED

90 Day Debt Relief from 4 major SA Banks

We will get through this as a nation.

Lets remain Optimistic - 2020

The world has entered a new decade, and here in sunny South Africa, it’s one of those great moments in life to purchase property – Let this be a year of expansion – invest into Property 202...

Lets Remain Optimistic - 2020

The National Residential Property Market seems to remain stagnant, well at least for now, but experts predict recovery in the last quarter of 2020

Jeffreys Bay is getting South Africa’s first plastic road

Construction of South Africa's first plastic road began earlier this week at the Kouga Municipality District in Eastern Cape.

Standard Bank to close 91 branches, thousands of jobs on the line

JOHANNESBURG - South Africa's Standard Bank today announced that about 1200 jobs will be on the line after it decided to close 91 of their branches. According to a statement issued by Standard Bank, a t...

The electricity hike’s impact on SA property

The National Energy Regulator of South Africa (Nersa) last week announced its decision to grant Eskom a 9.41% tariff increase for the 2019/20 financial year.

Cape Town has the highest quality of life in Africa

Cape Town was recently identified as the city that provides the best quality of life in the whole of Africa on Numbeo’s 2019 global Quality of Life Index. Numbeo allows people to see, share and comp...

Cape Town house prices up 34% in three years, says city council

Homes in Cape Town are worth 34% more than they were three years ago. The claim comes from the City of Cape Town, which on Thursday released its 2018 general valuation roll. Deputy mayor Ian Neilson sa...

KEY STAKEHOLDER ANNOUNCEMENT

I am delighted to announce that Private Property has successfully concluded the purchase of the Property Buyer Show, which can rightfully claim to be South Africa’s most innovative property expo. The t...

Use an unregistered estate agent and pay the price

Being illegal hasn’t stopped unregistered estate agents, who are not entitled to a commission, from selling to unsuspecting buyers

NEWS FLASH ~ WHEN IN DOUBT - REGISTER AS A CREDIT PROVIDER

There has been a lot of uncertainty amongst the courts in respect of the interpretation and application of the National Credit Act 34 of 2005 (the “NCA”) as to amongst other aspects, whether once...

South Africa has a new tallest building

The Leonardo, which has steadily been rising above the Sandton skyline over the past two years will become the tallest building in South Africa – and Africa, for a time. This was confirmed by Legacy...

CHANGES TO PROCEDURE TO REPLACE LOST OR DAMAGED COPIES OF TITLE DEE...

In order to transfer or cancel any real right that is registered in the deeds office one has to lodge the original holding deed, such as a title deed or mortgage bond. It frequently however happens that thes...

PART 3: COMMENTARY ON THE PROPERTY PRACTITIONERS BILL OF 2018

THE PROPERTY PRACTITIONERS FIDELITY FUND In just the same way as the Property Practitioners Regulatory Authority will take over from the Estate Agency Affairs Board, the Estate Agents Fidelity Fund will ...

South Africa grabs fifth spot as most ‘Instagrammable’ ...

We know South Africa is one of the top tourist destinations, but we can now boast being the fifth most attractive on Instagram, too.

COMMENTARY ON THE PROPERTY PRACTITIONERS BILL OF 2018

PART 2 TRANSFORMATION OF THE PROPERTY SECTOR You might recall that the property sector has a Transformation Charter which was finalised in 2017. In chapter 4 ...

Absa’s big plans to target first-time home buyers

Absa plans to claw back market share in South African home loans by taking on more risk and targeting first-time buyers, as CEO Maria Ramos embarks on a new era outside the clutches of Barclays Bank.

CASE LAW UPDATE: TRADING WITHOUT A FIDELITY FUND CERTIFICATE - CLAI...

There have been two recent cases dealing with agencies that traded without Fidelity Fund Certificates (FFC's) which we thought would be of interest to you. Here are summaries of the two cases:

Le Roux warns that the Bill as it currently stands will not serve t...

One director late with his FFC registration or audit report and the entire business and all the estate agents employed there find themselves deregistered. Sounds absurd? Unfortunately, this is a reality shou...

Government to officially launch Atlantis Special Economic Zone in W...

JOHANNESBURG - Following years of preparation, President Cyril Ramaphosa will next week officially launch the Atlantis Special Economic Zone (SEZ) which is expected to create thousands of jobs in the Western...

TIPS FOR RENTING OUT YOUR PROPERTY

Regardless of whether the property you are renting out is a studio apartment, a cottage at the back of the garden or an entire estate, the same rules apply and need to be understood in order to make a succes...

HOME LOAN INTEREST RATES

Pay 0.5% less on your home loan interest rate, see what you'll save. A 0.5% rate concession on a new R1 million home loan would shave R80 000 off the total amount of interest due over the 20-year life of th...

NEWS FLASH - REGISTRATION OF SOLAR INSTALLATIONS IN THE CITY OF CAP...

REGISTRATION OF SOLAR INSTALLATIONS IN THE CITY OF CAPE TOWN Changes to the City of Cape Town Electricity Supply By-Laws of 2010 now make it compulsory to register certain solar installations with the Cit...

WHEN CAN THE MUNICIPALITY DISCONNECT MY WATER AND ELECTRICITY?

The municipality is the place where most, if not all, services are monitored for their availability to a property, and it is the very place that may cut off the supply of said services. Their authority does,...

[ANALYSIS] WHAT IT WILL TAKE TO COMPLETE CAPE TOWN’S UNFINISH...

Overlooking one of the busiest intersections in the central City of Cape Town, en route to one of its biggest tourist attractions, the Waterfront, are two road stubs hanging high above the ground. They form ...

South Africa’s new visa rules – here’s everything...

South Africa’s government will overhaul its visa rules by the end of next month to promote tourism and make it easier to do business, as part of a package of measures aimed at reviving an economy that&...

CASE LAW UPDATE – ESTATE AGENTS MANDATES

It is an estate agent's sole mandate agreement binding if it is signed by only one spouse married in community of property? This is the question that was finally decided by the Western Cape High Court on Tu...

NEWS FLASH

First monthly bank installments

Landmark case closes this SA loophole used to dodge disciplinary he...

South Africans facing disciplinary hearings have been able to exploit a loophole in the law that enabled them to walk away, avoiding answering charges of misconduct. The employer was unable to continue with ...

EXPROPRIATION OF LAND WITHOUT COMPENSATION

On 27 February 2018 Julius Malema through the Economic Freedom Front (EFF) put forward a motion to amend the Constitution to allow for the expropriation of land without compensation. Out of the 13 political ...

CONVEYANCING FEE INCREASE

Kindly note that the recommended fees for transfers and bond registrations, as issued by the Law Society, will increase by approximately 5% on all new instructions received as from 1 June 2018. (Note : This ...

INDUSTRY VOICE FRUSTRATION OVER ILLEGAL AGENTS AND THE SYSTEM

It is one thing if the Board is doing absolutely nothing, but another if substantial efforts are made, but they are unable to cope with the scale of the problem. It is therefore not a given that applying for...

LETTER: NEW BILL WILL NOT STOP ILLEGAL TRADING

If this system could allow for the capture of income tax numbers and payment to both the selling agent AND the agency, on transfer both will be paid independently of each other.

FIVE WAYS TO IMPROVE YOUR CREDIT SCORE

CAPE TOWN - Thanks to the National Credit Act, you’re entitled to a free up-to-date credit report every year. “Taking advantage of this free online service via a registered credit bureau is defin...

WESTERN CAPE ‘KEY CONSTRAINT’ TO HOUSE PRICE GROWTH

The continued ‘normalization’ of housing prices in the Western Cape had a major impact on a surprisingly weak start to house price growth in 2018.

Mother of disputes

“Co-ownership is the mother of disputes” (Roman law maxim) Buying property can be an excellent investment, but it can also be expensive. So sometimes it makes a lot of sense to share the financi...

City announces qualifying Foreshore Freeway Precinct bid

The City of Cape Town has announced the qualifying bidder for the Foreshore Freeway Precinct development. The Stage 1 bid evaluation process has now been completed by the appointed Bid Evaluation Committee....

ZERO TOLERANCE FOR HATE SPEECH IN REAL ESTATE

The issue of racism and hate speech has been brought to the fore again with former real estate agent Vicky Momberg making history as the first person in South Africa to be sent to jail for crimen injuria sho...

How to Avoid Disputes over Jointly Owned Property

Buying property can be an excellent investment, but it can also be expensive. So sometimes it makes a lot of sense to share the financial burden with someone else. Perhaps for example you are spouses or life...

DOES SARS TAX DONATIONS MADE FROM A FOREIGN SOURCE?

As you are no doubt aware SARS charges tax on any donation which a person makes to another person if the amount donated exceeds R100 000-00 in any tax year. This donations tax is currently running at 20%.

VAT RATE INCREASED TO 15%. WHICH RATE APPLIES TO YOUR TRANSACTION

General VAT is essentially an inclusive tax, meaning that the price charged by a vendor includes VAT. This also means is that any quote, price tag, advertisement or tender et cetera must include VAT, unless ...

Icon PG – Proudly uses Property 24 to advertise their sellers...

Gary Phelps, Sales and Marketing Director for the Group says that “we have proudly aligned ourselves with this Online Leader if the field of advertising properties. Since our decision to utilize Proper...

A QUIET BUDGET FOR PROPERTY PRACTITIONERS

n the budget speech that was delivered on Wednesday, 21 February 2018, no major changes that specifically affect property practitioners were mentioned. Transfer duty and Capital Gains Tax will remain the sa...

PROPERTY INDUSTRY WELCOMES ‘CYRIL SPRING’

The property industry has reacted with delight to the appointment of Cyril Ramaphosa as President of South Africa.

Pretoria is being removed as a suburb!

We are revising our suburb/city data set. This will result in the removal of certain suburbs which don’t match officially recognized authoritative data sets. Pretoria is being removed as a suburb!

Cape Towns Water Crisis

Is this the end of Wasting Water - Lets find the good in this situation!

New Nedbank Home Loan Product

Making that new Home even easier to obtain.

How does the SA Property Market look for 2018

Over the last year, residential property sales have gone from strength to strength in Cape Town and the surrounding areas, a trend that is expected to continue as we head into 2018.

10 WAYS TO SAVE MONEY AND MAKE YOUR LIFE MORE SIMPLER

Saving money can be tough, but by learning how to make a budget and understanding the savings tools you have available to you will allow you to prioritise savings and achieve your financial goals. Whether it...

COSTS TO CONSIDER WHEN INVESTING IN PROPERTY

Purchasing an investment property can offer great financial rewards over the long term. However, it is important to bear in mind that when buying an investment home, there is more to consider financially tha...

Icon Property Group

As a progressive, and forward thinking Property Brand, we’ve decided to bring you the best we have on offer, right to your phone, or desk. Whether its residential properties, office blocks, industrial ...

Property Barometer-Into An Era Of Slower New Household Formation ?

The odds appear stacked against 1st time buyers in a variety of ways of late, and 2016 prove to be the year in which the pace of growth in the formation of new households began to slow.