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Wednesday Oct 10, 2018

White-washed Paternoster fishing village lures holiday and retirement buyers (West Coast)

Aside from the beautiful coastline and white-washed architecture of Paternoster, just about 90-minutes outside of Cape Town, it is an ideal base for people looking to catch a glimpse of the stunning flower carpet that envelops the area during Spring.

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Four things to know before buying a heritage home

South Africa is dotted with historic architecture, from elegant Cape Dutch manor houses to quaint Victorian cottages and Art Deco office blocks scraping the city skyline. For many of us, owning a property that forms part of this collective history would be a dream come true, but that dream brings with it certain rules and responsibilities.

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Recession tips for landlords

Although rental demand rises during an economic decline, rental rates come under pressure. This means that landlords will need to relook their rental price expectations.

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Monday Oct 08, 2018

What could affect or delay an HOA Home Transfer

When a property is sold, there is a specific list of documentation the conveyancing attorney will need in order to lodge the transfer at the Deeds Office, i.e. compliance certificates, rates clearance, bond documentation, etc.

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How to get rid of Illegal Tenants

Locked out, services disconnected, unannounced visits or withholding rental deposits: landlords are often given a bad rap. But while there are terrible landlords, there are terrible tenants, too – those who don’t pay on time, damage or fail to maintain property, the malcontents, the bad neighbours, the antisocials.

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Market tough for first-time buyers

Repeat buyers are main players as property market entry-level prices rise and banks show willingness to lend

Repeat home buyers are the mainstay of the residential property market, accounting for 55% of new bond applications and 66% of formally granted home loans, according to the latest statistics* from BetterBond, South Africa’s leading bond originator.

This is a positive indicator for the market, says chief executive Rudi Botha, because it shows that despite the current political and economic uncertainties, most existing homeowners are not selling up and extracting all their proceeds, but reinvesting these into their next homes in South Africa.

Although consumers have been under tremendous financial pressure over the past 12 months, the average deposit paid by buyers in this sector has declined only from R223000 to R220000. This has done much to sustain home price growth, which showed a year-on-year rate of 5.2% at the end of August.

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Uncertainty good for buyers

An industry player says unpredictability plays right into the hands of investors who purchase property now

Even though South Africa has entered an era of uncertainty around property, investors are still buying.

Proposed amendments to Section 25 of the Constitution have hit the front pages of newspapers more often than any other news, but this has not stopped people from entering the market, say Minette du Plessis of Just Property’s Investment division.

Have we seen a decline in sales? Not a chance.

Considering who we now know will be affected by the new property bill, and how President Cyril Ramaphosa says it will be constructed, we believe the way redistribution will play out will, in fact, boost the South African economy and growth.

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Repeat buyers are mainstay

New builds exempt from transfer duty are currently the favoured choice for first-time property purchasers

Property buying may be continuing unabated through the economic slump, but the market is not opening up to new buyers. Instead, the majority of sales and purchases is being transacted by those who already own property, while aspiring first-time homeowners are faced with few choices.

Their best options currently are new properties that are exempt from transfer duty. First-time buyer levels have certainly slowed with cautiousness in the market. However, well-priced newbuild properties still remain popular due to the saving of transfer duty, says Richard Hardie, chief executive of Knight Frank SA residential.

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Bonny Fourie

Friday Oct 05, 2018

News from BetterBond. Golden rules still apply

The banks are keen to lend, homes are selling more slowly and owners are keen to negotiate, so now is definitely a good time to buy, but that doesn’t mean you should throw caution to the winds, says Rudi Botha, CEO of BetterBond, SA’s leading bond originator.

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Sole mandates get better prices.

As a seller, you’ll need to make several smart choices to get the best price for your home. One of those will be choosing between a sole or an open mandate.

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