As rising municipal rates and electricity tariffs shoot up and service delivery drops, homeowners will be looking to make the jump to areas where things aren’t falling apart – and the Western Cape is likely to benefit. This was one of the key trends outlined in FNB’s 2024 property insights analysis by John Loos, a […]
Author: VRadmin
How load shedding is impacting the property market in South Africa
This is according to Renier Kriek, managing director at Sentinel Homes. “Enjoying one’s home to the greatest extent possible during blackouts and maintaining its future value have become closely intertwined,” he says. So, it is essential that those in the market understand how their efforts to minimise the severity of power cuts can benefit or […]
Airbnb crackdown in South Africa
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 […]
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 […]