Properties in trust too risky for many banks
Property Factor - South Africa
When we first became aware of the banks reluctance to finance properties registered in entities (company, close corporation or trust), we were a little taken aback, writes Tess Rodrigues of Property Factor.
After all, this may not necessarily be the most lucrative way of purchasing property, but it surely is the safest, as it separates the asset (the property) from the individual's personal financial obligations and misdemeanours.
Furthermore no bank will finance a property in an entity without obtaining a surety from the individuals who control the entity, be it its directors, members or trustees. So the risk would seem small ?
Rode Review, February 2013
Rode - South Africa
Alarm bells ringing in the Centurion office space market
The Pretoria decentralized office market seems to be suffering from a combination of weak demand and overzealous development. This statement especially applies to Centurion, one of Pretoria decentralized’s largest and most popular office areas.
Rode’s Report special offer extended
In the current economic climate, planning is just that much easier if you’re able to base your decisions (especially property-related ones!) on accurate and up-to-date research. So here’s the deal: Rode is offering new subscribers a once-off special on our authoritative Rode’s Report on the SA Property Market – both the print and online versions – at a 10% discount, provided you order and pay before the end of February 2013. You'd better hurry - time is running out!
2013 - The Year of the Rolls
Rates Watch - South Africa
2013 will be remembered as being the “Year of the Valuation Rolls”.
Several Metros as well as municipalities will be publishing their new General Valuation Rolls effective from the 1st of July 2013. The objection period varies from one municipality to another.
It is important that the objection period is tracked and red flagged on an individual basis. Certain municipalities have, at their own discretion extended the minimum objection period of 30 days as stated in terms of the MPRA. Don’t assume that dates applicable to one Municipality will apply to another.
Missing the submission of an objection during the open period could have very serious financial implications.
Ooba statistics show positive start to 2013
Ooba - South Africa
The latest statistics from ooba, South Africa's biggest bond originator, show the average house price reached R894,510 in January 2013, up 5.2% from R850,589 in January 2012. Month on month, the average house price increased 3.4% from R865,164 in December 2012.
"The property market is gaining confidence and we expect property prices will continue to show positive nominal price growth for the year ahead," says Rhys Dyer, ooba COO.
First time home buyer activity continues to drive the market, with over 51% of ooba's applicants in January being first time home buyers. The average house price for first-time buyers was up 5.5% year on year to R686,452 and up 3.2% month on month to R665,167.