Check zoning rights before buying residential property for business use
South Africa - Gilan and Veldhuizen
How often do we see those adverts "perfect for home-office" or "ideal for business" on an estate agent's advertising platform and take it as a given that the said property is in fact 'ideal for business'?
But often these advertising statements are either loosely, incorrectly or deceitfully used in order to make a property more attractive to buyers.
PJ Veldhuizen, CEO of Gillan and Veldhuizen attorneys, who have a specialist conveyancing and property law division, warns both estate agents and buyers of the danger of not checking if a property you are buying or selling for commercial use is zoned correctly.
The Zoning Scheme Regulations laws are aimed at achieving systematic and rational development of land and land use in an area of jurisdiction.
Property online: how digital media is changing the industry
South Africa - Rawson
The world isn’t going digital – it’s already there. Businesses without an online presence are fast fading into anonymity, and those who know how to work their digital platforms are reaping the rewards. While the property industry may be rooted in tradition, it’s far from exempt from this technological revolution. In fact, according to Debbie Reabow, the Rawson Property Group’s Brand and Communications Manager, the digital world is responsible for some of the biggest changes in the industry to date.
“The last decade or so has definitely been an exciting time to be in property,” she says. “We’ve seen online portals become primary sales tools, websites and blogs taking over as information and advice centres, and social media opening up a whole new level of conversation with our customers.”
As a result, Reabow says estate agents and real estate franchises have had to up their game on several fronts. The most obvious improvement is modern property photography, which she strongly believes can make or break a sale.
Homeowner Sentiment Index
South Africa - Absa
Property market sentiment marginally up in the fourth quarter of 2017
After a recovery in South African residential property market sentiment in the third quarter of 2017 from the second quarter, perceptions regarding market conditions were in the fourth quarter of last year slightly better compared with those in the preceding quarter, with sentiment also much in line with the last two quarters of 2016. These trends in property market sentiment came against the background of local political developments towards the end of last year as well as some greater optimism regarding economic prospects in view of recent trends on this front.
Homeowner Sentiment Index (HSI) results
The overall HSI score, which reflects the percentage of survey respondents with positive sentiment regarding residential property market conditions, was only marginally higher at 82% in the fourth quarter of 2017 compared with 81% in the third quarter. The main reasons mentioned by survey respondents which impacted their perceptions regarding the property market in the fourth quarter were the following:
- Property is a secure asset (33%)
- Property still increases in value (28%)
- A home is essential (11%)