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Property 24/10 - 388

25 January 2018

What smart homes will look like and cost you in 2025
By 2020, UberAir plans to run air taxis in at least three big cities, namely Dallas, LA and Dubai. If these get off the ground, a transportation revolution could be sparked - this could lead to the rise of airborne cities (think Fifth Element or Blade Runner).

Add to this artificial intelligence, environmental issues and the sharing economy, and it seems fairly certain that the way we live, where we live and how we build our homes is heading for a dramatic evolution.

Crispin Inglis, CEO of PropertyFox, believes that as early as 2025, homes could look vastly different. He says the speed of technological development is just too rapid to ignore and because of the long-term nature of property investments planning now for the future is critical.

So if you are renovating, buying or building a home, or if you are a property developer - designing for the future, rather than the now, is the smart thing to do, he says.
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Understanding ‘suspensive conditions’ in a property sales contract
If an offer to purchase has been signed by both buyer and seller, it is accepted that they are both serious about the transaction going through and the only thing that would prevent this from happening is that one of the suspensive conditions listed in the contract is not fulfilled.

So says Michael Bauer, managing director of property company SAProperty.com, who explains that if a suspensive condition is listed, it is something that has to be completed before the agreement between the parties is enforceable. “Because such a condition can have important consequences, it is vital that the parties’ intentions are clearly and accurately set out in the offer to purchase.”

Both buyer and seller are bound by this contract once all the conditions have been met, and neither can retract without being penalised for breaching the terms of the agreement, says Bauer.
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Five global workplace trends your company should adopt by 2020
Successful companies the world over are making the necessary shift of recognising the value of the workplace as a business tool to help hire and keep the best talent.

Linda Trim, Director at workplace specialists Giant Leap, says “for South African companies, the overarching imperative must be to see workplace strategy as a business opportunity rather than a just a design challenge and a cost containment exercise.”

With 80 percent of the average company’s costs tied to its talent, which is increasingly globally mobile, here are the top five workplace changes South African companies will need to adopt in the next two years to keep pace with international trends.
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Four ways of buying property: tax and legal implications
As it currently stands, there are four main ways in which a home can be bought in South Africa according to Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, who says deciding in which legal entity to buy the property is not a decision that should be entered into lightly, as each has its pros and cons.

He says South African law recognises various types of ‘persons,’ regarded as either natural persons or juristic persons. “A natural person is defined by law as someone who acts and conducts business in their own name, while a juristic person is a legal entity, such as a company, trust or close corporation.”
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Interest rates decision 'disappointing' for economy and property
The SA Reserve Bank’s Monetary Policy Committee has left the repo rate unchanged at 6.75%, with and prime interest rate at 10.25%. While homeowners might breathe a sigh of relief, today’s decision to retain the repo rate is "disappointing for the economy and property market", says Samuel Seeff, chairman of the Seeff Property Group.

“We enter the year on a more positive note and with the improvements in the currency and stability of the CPI rate within the SARB target range, the time is right for a rate cut to stimulate the economy and property market,” says Seeff.

He says the much awaited appointment of Cyril Ramaphosa as President of the ANC and President in waiting of SA has boosted consumer and business confidence and is sending a positive message to the market.
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