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19 April 2007

Home buyers and sellers now 'in tune'
Business.iafrica.com - South Africa
The difference in asking and selling prices in the property market is back to normal levels, said managing director of Homenet, David Rogers, on Tuesday.

"Clear evidence that the property market has settled and is set for an upturn is the fact that the difference between asking and selling prices has dropped back to normal levels of between 5 and 10 percent in most areas," Rogers said.

The difference between the asking and selling prices were as much as 25 to 30 percent in the middle of last year.

Rogers said the latest trend emerged from a recent national survey conducted by the Homenet group through its network of more than 160 branches countrywide.
Business.iafrica.co.za

New policy brings challenges
BusinessDay.co.za - South Africa
The government's proposed inclusive housing policy should make great strides in eradicating old apartheid-style zoning but there are numerous challenges, particularly the need for the provision of proper social infrastructure, to make it successful.

There is no doubt that an inclusive housing policy will be implemented. All that is now being debated is how it will be implemented and how to overcome practical problems.

A draft policy on inclusive housing is being negotiated between the national housing department and commercial property association, SAPOA.

The government's proposed inclusive housing policy aims to set aside a certain percentage of new developments for affordable housing. Some developers have been critical of the proposal, saying it will squeeze already tight profit margins for developers.
Business Day

SA land restitution going well
News24.co.za- South Africa
The Department of Land Affairs is confident that the land restitution deadline of 2008 will be achieved throughout the country, SABC radio news reported on Monday.

It also said, however, the steep increases in the price of land still posed a major problem. Six billion rand has been spent over the past two years and it was expected another R3bn would be needed to wind up the process next year.

Agriculture and Land Affairs deputy minister Dirk du Toit says it is imperative that the process is accelerated because of the increase in land prices. "Restitution is going very well, especially in the last year or two."
Du Toit said about 5,100 claims were outstanding and that around 73,000 had been finalised and settled.
News24.co.za

Ten global trends will keep the property market on the boil
Financial Mail - South Africa
The world's equity markets look shaky and key housing markets are in decline. But commercial property markets are powering ahead. Where to put your money?

Ernst & Young's global director of real estate, Dale Anne Reiss, has identified 10 worldwide property trends that she believes will create opportunities for investors.

1. Investment in infrastructure. Governments don't have enough funds to develop, modernise and maintain their roads, bridges, dams, sewers and other infrastructure. Global investors are beginning to invest in infrastructure as the returns on commercial properties fall.
"Infrastructure will quickly rival other property markets," says Reiss, " with trillions of dollars spent to bring infrastructure up to standard or to develop new infrastructure.
Financial Mail

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