A new whitepaper from the Department of Tourism threatens the additional income small-time Airbnb hosts make from renting out rooms or garden cottages. The department first revealed its intention to regulate Airbnb and other home-sharing apps in April 2019 through the Tourism Amendment Bill. The bill aims to give the tourism minister the power to specify […]
Author: VRadmin
Almost 90% of municipalities are ‘distressed’ or ‘dysfunctional’
229, or 89.1%, of the country’s municipalities are not working properly. Minister in the Presidency responsible for Planning, Monitoring and Evaluation Maropene Ramokgopa has painted a grim picture of the state of municipalities in the country, revealing nearly 90% are in trouble. Answering a parliamentary question on the implementation and progress of the Medium-Term Strategic […]
Nearly one in five tenants behind in rentals
Apparently, this is a return to normal. It used to be worse. Close to half of SA’s landlords say they are considering selling their investment portfolios. Some 18.4% of residential tenants in SA are in arrears on their rent, a figure that is somewhat improved from the nearly 25% recorded at the height of the […]
Repo rate ‘cut of 1%-2% needed to revive property market
‘All the people we speak to do believe that in 2024 we’re likely to see rate cuts of ideally somewhere between 50 basis points and 150bps. So I do think there will definitely be some respite next year as inflation reaches that mid peak,’ says Rhys Dyer, CEO of ooba Home Loans. JEREMY MAGGS: A warm […]
Excessive rate hikes by big metros unsustainable – Sapoa
Commercial property body says it has reached out to key SA cities to begin a consultation process. The “continuous and excessive hiking of rates and taxes” in key metropolitan municipalities in the decade to 2021 is “unsustainable for the country’s property industry”. This is according to findings mapped out in a study commissioned by the […]
Canal Walk owner Hyprop reports jump in earnings amid Eastern Europe boost
Hyprop Investments, whose interests include Canal Walk, Hyde Park Corner and Rosebank Mall has reported a climb in distributable income of almost a quarter in its year to end-June, with activity picking up in its SA centres, but growing by double digits in Eastern Europe. Distributable income rose 24% to R1.45 billion to end-June, though […]
Solar panels are not an instant magnet in housing market, warns FNB report
Installing solar panels on your home’s rooftop is not an instant ray of light for buyers if you want to sell. It all depends on the price segment your home falls in. Wealthier buyers, for example, have the resources to do their own thing. These are among the key takeaways of a special report that […]
Growthpoint: new student financial aid cap a risk to its student res division
New student financial aid cap a risk to its student res division New rate – which falls short of market rate by about R20 000 – is unsustainable, says Reit. The decision by the National Student Financial Aid Scheme (Nsfas) to cap residential allowances for university students has short-changed Growthpoint’s student accommodation division, forcing it […]
Massive R3.6 billion development boom in Cape Town
A recent report shows that Cape Town CBD’s post-Covid economy is on the rebound, with property investment in the inner city in 2022 exceeding R3.555 billion while the retail, hospitality and eventing sectors are all experiencing major growth. This is according to the latest edition of the State of Cape Town Central City Report 2022 […]
Growthpoint to undertake R1.2bn investment in student housing
There is a shortage of 500,000 beds in SA Growthpoint, SA’s largest property company, will invest about R1.2bn in student housing by 2026, as it counts on rising demand from the sector to partly offset a slump in other areas. SA’s student housing sector has a shortfall of up to 500,000 beds in the formal […]