Price war and niches mark cut-price hotels

Cape Town hotels, battling with low occupancy rates and locked in price wars, will have to weather the economic storm for at least three years, say industry experts.

Posted at 01:07PM Sep 02, 2010 by Editor in Commercial  |  Comments[0]

House Price Index drops to 7.2% in August

The FNB House Price Index continued its trend of slowing year-on-year price growth, from a July revised rate of 10.1 percent to an August rate of 7.2 percent, said home loans strategist John Loos.

Posted at 01:03PM Sep 02, 2010 by Editor in Residential  |  Comments[0]

Joburg council subpoenaed on slow response to complaints

The Gauteng Legislature has subpoenaed the Speaker of the City of Johannesburg to account for the municipality's inability to respond to service delivery complaints lodged more than a year ago.

Posted at 09:54AM Sep 02, 2010 by Editor in Cities and Towns  |  Comments[3]

'1% drop in interest rate now essential'

The next Monetary Policy Committee meeting is likely to allow a 0,5% drop in the bank interest rate - but, says Bill Rawson, Chairman of Rawson Properties, the cut should be at least 1% if any significant change in the economy, the growth rate, job creation and in residential property sales is to be achieved.

Posted at 09:24AM Sep 02, 2010 by Editor in Home Loans  |  Comments[3]

Wemmer Pan's musical fountains brought back to life

The handful of people who watched a successful test run of the new musical fountains at Wemmer Pan this week had tears in their eyes.

Posted at 09:17AM Sep 02, 2010 by Editor in Cities and Towns  |  Comments[2]

Municipal officials probed over Sunshine Coast pollution

Two top Sunshine Coast municipal officials are under police investigation for allegedly failing to stop raw sewage polluting Port Alfred's popular Kowie River - despite knowing about the problem.

Posted at 08:16AM Sep 02, 2010 by Editor in Cities and Towns  |  Comments[0]

Kungwini council clueless as R147m 'disappears'

Gauteng's Kungwini municipality - one of 46 local authorities under investigation across the country - can't account for what it did with R147-million.

Posted at 08:00AM Sep 02, 2010 by Editor in Cities and Towns  |  Comments[0]

'Unfinished freeways must go'

It's time for Cape Town's incomplete freeways on the Foreshore to go, says Andrew Boraine, chief executive of the Cape Town Partnership.

Posted at 02:11PM Sep 01, 2010 by Editor in Cities and Towns  |  Comments[6]

'Strong likelyhood' of further rate cut

There is a strong likelihood of a 50 basis points rate cut when the SA Reserve Bank's Monetary Policy Committee (MPC) meets next week, estate agency group Seeff said on Wednesday.

Posted at 10:30AM Sep 01, 2010 by Editor in Home Loans  |  Comments[1]

Cape chamber calls for second opinion on 'flawed' bus plan

The Cape Chamber of Commerce has slammed the MyCiti bus service plan, saying it could cost up to a third of the city's operating budget.

Posted at 10:15AM Sep 01, 2010 by Editor in Cities and Towns  |  Comments[0]