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Property 24/10 - 358

15 June 2017

SA auction first: Private cemetery in Winterveldt, Gauteng
There’s an old saying that the only two sure things in life are death and taxes.

Nobody will argue that tax is infinitely depressing, but just sometimes death doesn’t have to be - especially if it turns you into a successful entrepreneur. Most people aren’t aware that private cemeteries are becoming big business in South Africa, but they’re not simple ventures to launch because they require sizeable chunks of land in the right areas.

“Then there’s the hellish process of obtaining local authority planning permission - an endeavour that would stretch the patience of a saint,” says High Street Lead Auctioneer and Director Joff van Reenen.
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Tips for protecting body corporate funds
Now that all sectional title schemes are obliged to have two separate funds, a day-to-day administrative fund and a reserve fund, it seems of utmost importance to assess whether all the money accumulated is protected as well as it should be according to Mandi Hanekom, operations manager of sectional title finance company Propell, who says all money received by the body corporate must be deposited into an account with a registered commercial bank in the name of the body corporate.

She says Section 3(1) (g) of the Sectional Titles Schemes Management Act (STSMA) states that the body corporate has the function to open and operate an account or accounts with any registered bank or any other financial institution. This should be, according to Prescribed Management Rule (PMR) 21(4), an interest-bearing account in the body corporate’s name or a trust account.
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Eastern Cape government to re-allocate unoccupied houses
The Eastern Cape is set to start a process to trace the missing beneficiaries of unoccupied government subsidy houses.

According to Eastern Cape MEC for Human Settlements, Helen Sauls-August, the Provincial Department has learned that some municipalities are struggling to trace beneficiaries, whose houses have been completed.

Sauls-August has given the go-ahead to all municipalities to reallocate unoccupied houses to other qualifying beneficiaries.

She says this will be done by following a process of deregistration of approved beneficiaries, who have not taken ownership of their completed government subsidy houses.
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Foreigner's guide to buying property in South Africa
South Africa has millions of annual foreign visitors who purchase property once they experience our beautiful country and its people according to Craig Hutchison, CEO Engel & Völkers Southern Africa, who says that although there has been some uncertainty about foreign investors being allowed to own property in SA, this has now been dispelled.

Foreigners can purchase and own immovable property in South Africa without restriction - non-nationals are subject to the same laws as nationals. The only ineligible people are illegal aliens who are not allowed to own immovable property in SA.

Hutchison says political and macroeconomic uncertainties have taken centre stage following President Jacob Zuma's cabinet reshuffle and the firing of the minister of finance and his deputy on the 30th of March. The subsequent downgrades by S&P Global Ratings and Fitch have further increased concerns about South Africa's economic outlook.
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The age of information a 'golden opportunity' for estate agents
Modern times are evolving so rapidly that businesses and individuals alike are having to continuously analyse their practices and strategies to ensure they stay ahead of the game.

Richard Gray, Harcourts Africa Chief Executive Officer, says this is especially applicable to the real estate industry, which has seen an array of local and international factors influence how everyday business is conducted.

“For one, we've seen how our customers are becoming a lot more informed. They have access to statistics, technologies and information at the click of the button that can display a plethora of current, relevant data on the market their home is located in,” says Gray.
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Five smart tips for finding your dream home online
With access to technology becoming increasingly more attainable, it has become easier than ever to start looking for a home online.

“However, the volume of listings available on property search portals can be rather overwhelming,” says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.

Statistics reveal that nine out of every ten prospective home buyers will look to the internet before making use of any other type of resource when starting their home-buying journey.
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