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Property 24/10 - 264

23 July 2015

Mobile technology changing the real estate industry
The manner in which prospective property buyers approach the search for their dream home has changed radically over the past decade, largely spurred on by rapid advances in technology that have transformed a bulky desktop computer into something most people carry in their pockets according to Lew Geffen Sotheby’s International Realty CEO, Jason Rohde, who says an examination of Google Analytics data shows that more than half of the company’s online property ‘leads’ nowadays comes from mobile devices.

Rohde says fifteen years ago, a real estate company could show good results by just placing ads in newspapers, and a decade ago it was okay to have a static website, but those days are long gone.
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Driving investment in global property markets
Sustainable business is important in driving prosperity, innovation and investment in global property markets according to global president of the Royal Institution of Chartered Surveyors (RICS), Martin J Brühl, Fellow of RICS, speaking for the first time in his new role during his inaugural speech in London on 30 June 2015 as the 134th President of RICS.

The first continental European to take on the role, Brühl will focus on three key themes during his presidency. As head of Investment Management International at Union Investment Real Estate, sustainable investment and risk management play strongly to his expertise.
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Building a new house is more expensive in 2015
The building cost of new housing constructed averaged R5 908 per square metre in the period January to April this year, resulting in an increase of 3.2% year-on-year (y/y) on the building cost of R5 724 per square metre in the corresponding period last year according to Jacques du Toit, Property Analyst for Absa Home Loans, who says this is reflected in the Absa Residential Building statistics.

He says building costs are driven by building material costs, labour costs, transport costs, equipment costs, land prices, rezoning costs, and developer and contractor holding costs and profit margins.

The demand and supply of new housing, as reflected in levels of residential building activity, are impacted by the growth in population and household numbers.
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6 Essential tips for first-time home buyers
With July’s National Savings Month well under way, it’s an inspiring time to start thinking about getting on the property ladder.

“But it is essential to make the climb in as smart a way as possible,” says Francois Venter, Director of Jawitz Properties.

He says as a first-time buyer, you need to consider the following in your quest for buying your first home:

1. Be practical about all your expenses
Your income is the most important factor determining the mortgage bond you qualify for. As a rule, your repayment should not be more than a third of your net income.
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Changing a door or window in a sectional title unit
n many sectional title schemes, there will come a need at some stage for the owner of a unit to renovate his property, and when windows or doors are to be changed, there are a few things that need to be considered before making those changes according to Mandi Hanekom, operations manager for the sectional title finance company, Propell, who says Conduct Rule 4 allows for alterations and additions to common property in certain circumstances, and Prescribed Management Rule 33 deals with luxurious and non-luxurious improvements, which require different forms of authorisation from the body corporate.

Where the outside appearance of a unit will be altered by the renovation, she says written consent is required from the body corporate before any work can be done.
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Show days sell homes and here's why
Time and time again, show days have proven to be an exceptional marketing tool according to Debbie Justus-Ferns, divisional manager of Renprop Residential Resales, who says they provide a tactile experience for potential buyers, who are able to physically walk through the property and see its features in person, rather than just looking at a marketing brochure or images of the home online.

“A personal visit to a property strongly influences the buyer’s decision as to whether or not they would like to purchase the home.”

Added to this, Justus-Ferns says show days also indicate to the buying public that the seller is serious and not just testing the market.
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