Four disruptors that will drive SA’s property market in 2019
This is according to Linda Erasmus, CEO of Fine & County Sub-Saharan Africa. Erasmus identifies them as: the change in buyer behaviour, the control of data, the shift in media platforms and the entry of young dynamic individuals in the property market.
So, just how will these disruptors change the industry?
1. Buyer behaviour
Erasmus believes that when it comes to buyer behaviour, there are certain points that the industry needs to take note of and cater or adapt to. For example, the fact that today’s buyers search online to compare not only property prices, but also different benefits associated with schools, suburbs, convenience as well as value for money.
Buying property with Bitcoin - is it on the cards for SA?
Although cryptocurrency has been around for quite some time now, it is still a relatively new concept in South Africa and, to a degree, quite foreign for some.
According to Craig Hutchison, CEO Engel & Völkers Southern Africa, the idea of no physical money and no set currency is quite daunting. There are quite a few options as an investment, but Bitcoin is perhaps the most well known.
Bitcoin is a currency created in 2009 by the anonymous pseudonym ‘Satoshi Nakamoto’, and in short it enables you to make financial transactions free of fees and the interference of banks. You can now use Bitcoin to buy everything from pizza to a manicure, as well as a payment option on takealot. But could virtual currencies become a standard trading resource to buying real estate?
Are you a first-time buyer? Here are ways to finance your new home
In a bid to tackle the affordable housing challenge, FNB is actively collaborating with various stakeholders to create more opportunities for first-time buyers to own their dream homes.
Consequently, there has been a significant increase in the number of new FNB home loans generated through employer-backed partnerships over the past two years.
Mpho Ramatong, FNB Home Finance Division Channel Head: Housing Schemes, says these important partnerships, commonly known as ‘Housing Schemes’ are aimed at making homeownership a reality for more consumers in South Africa through subsidies and other benefits such as special terms on loans and rental assistance programmes.
What do estate agents do during the property sales process?
The advent of the internet completely revolutionised the way in which we shop for everything, from clothes to houses, and consequently these days estate agents seldom play a key role in the location of our dream homes as most buyers start their search online - but that was never their core function anyway.
This is according to Brendan Miller, CEO of Lew Geffen Sotheby’s International Realty on the Atlantic Seaboard and City Bowl.
“Many people equate the role of an estate agent with that of a travel agent, but in reality they are very different as realtors are not sales agents, but rather facilitators of the complex sale transaction.”
Why regular rental inspections benefit landlords and tenants
Rental inspections are a necessity when it comes to good rental management, but both landlords and tenants should stick to the terms and conditions of their lease with regards to how these are carried out. This is according to Nelio Mendes, marketing manager of property company SAProperty.com.
It is an accepted practice, in order to manage a property well, that the property be inspected from time to time in addition to the ingoing and outgoing inspections, by either landlord or rental agent, and leases should include the provision for these to be carried out at regular intervals.
Off-plan or existing - which type of property is right for you?
If you’ve been weighing up the pros and cons of buying off-plan (or newly built) versus finding an existing home, rest assured: you’re not alone. It’s a decision that many South African buyers face.
While there’s no hard and fast answer and your decision will depend on your own personal circumstances and tastes, Tony Clarke, Managing Director of the Rawson Property Group, says there are a few important aspects to consider.
Clarke shares his insights on what you should be thinking about, and how your decision might affect your lifestyle and investment post-purchase: