| MARKET TRENDS |
Consumer credit amnesty divides opinion - Business Day, 05
June 2013
The Department of Trade and Industry and the National Credit
Regulator on Tuesday strongly urged the adoption of a credit amnesty for
financially impaired consumers that could come into operation as soon as October
if it is adopted by the Cabinet.
The Achilles' heel of the economy - Moneyweb, 04 June 2013
Traditionally, the current account balance of the balance of payments has
been the Achilles’ heel of the South African economy. As soon as the deficit
exceeds 5% of GDP on a sustained basis, the risk that it cannot be financed
becomes uncomfortably large. The concomitant possibility of an exchange rate
crisis and the risk it presents for inflation complicates the conduct of
monetary policy.
SARB may lower growth forecast at next MPC meeting - Moneyweb,
04 June 2013
While the Reserve Bank states that the June 2013 Monetary
Policy Review (MPR) marks a point of considerable improvement in financial
conditions and somewhat better economic outcomes in some countries, it is still
released at a time where the global environment remains uncertain and sustained
economic fragility persists.
SA prospect pivots on Dollar outlook - eProp, 04 June 2013
Our GDP growth may be undermined by Rand firmness due to strained trade
competitiveness, but growth may benefit from the real improvement in household
finances. |
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| GENERAL PROPERTY
NEWS |
Conversion of share block schemes - Property24, 05 June
2013
With effect from 1 January 2013, transfer duty is no longer payable
in respect of a transaction contemplated in Item 8 of Schedule 1 to the Share
Blocks Control Act, No 59 of 1980, whereby a right to or interest in the use of
immovable property conferred by virtue of the ownership of a share in a share
block company is converted to ownership of the immovable property concerned.
Bon Hotel Margate to open in November - Property24, 05 June
2013
Bon Hotel Margate, a six storey, 60 room, full service hotel on
Margate’s main thoroughfare overlooking the blue flag beaches will open on 1
November 2013.
Celebrating World Environment Week - Property24, 05 June
2013
The Miss Earth South Africa organisation has been invited by the
Environmental Ministry of Côte d’Ivoire to celebrate National Environment Week,
which takes place from 1 to 7 June 2013, and World Environment Day (WED), which
takes place on 5 June 2013.
Consumer body investigates timeshare - Property24, 04 June
2013
The National Consumer Commission is investigating leisure companies
offering timeshare after receiving hundreds of complaints over the past two
years, The Times newspaper reported on Tuesday.
Google invest R100m in R2.6bn South African solar energy
project - eProp, 31 May 2013
Google injects R100m investment in the
Jasper Power Project, a 94MW solar photovoltaic plant in the Northern Cape
province of South Africa. |
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| RESIDENTIAL
PROPERTY NEWS |
Sellers should think like buyers - Moneyweb, 05 June 2013
Sellers can gain a competitive edge if they stop thinking like sellers, and
instead start thinking like buyers, says Francois Venter, Director of Jawitz
Properties. “There are some steps sellers can take to make their homes more
attractive to buyers and so increase their chances of selling sooner rather than
later.
May house price growth shows further acceleration - Moneyweb,
04 June 2013
The renewed acceleration in house price growth, which
resumed early in 2013 after a lull late in 2012, continued in the May version of
the FNB House Price Index. of 5.8%, up from April’s revised 5.4%.
Home Prices shoot up to 10,3% - Iafrica.com, 04 June 2013
The Standard Bank house price index was up 10.3 percent in MayThe bright
spot from a credit perspective remains the prevailing accommodative monetary
policy environment. |
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| LISTED PROPERTY
NEWS |
Listed property’s bumpy road offers investment opportunity -
eProp, 04 June 2013
South Africa’s listed property sector continued its
slide during the week ending 31 May 2013, as the Rand breached R10/US$ and bond
yields moved sharply higher.
Listed property price correction offers opportunity - eProp,
04 June 2013
Listed property prices have seen a rapid correction over
the past two weeks, although analysts say this provides opportunities for both
investors and companies themselves.
Vunani gets go-ahead to raise up to R760m - Moneyweb, 31 May
2013
JSE-listed Vunani Property Investment Fund (JSE:VPF), has received
‘substantial’ approval from linked unit holders to raise up to R760 million by
way of a rights offer to grow its portfolio.
Redefine Plans R1.9bn Hyprop stake sale - Moneyweb, 31 May
2013
Redefine Properties (JSE:RDF), South Africa’s second-biggest real
estate company, plans to sell its stake in Hyprop Investments (JSE:HYP) starting
in September, after becoming the biggest shareholder in a rival company.
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| ESTATE AGENT
NEWS |
No easy road for property franchisees - Propery24, 05 June
2013
The Rawson Property Group is establishing new sales, rental,
commercial and auction franchises at a rate of approximately one per week.
IEA to host nutrition and health talk - Property24, 04 June
2013
Most workshops and functions held by the Institute of Estate
Agents, Western Cape, are property related and aimed at educating estate
agentsand other property professionals.
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| SPECIFIC AREAS |
Sandton: Wealthy home buyers' location - Property24, 05 June
2013
Not only is Sandton in Johannesburg home to Africa’s premier
shopping destination, Sandton City, it is home to 15 000 of the 23 400
millionaires in Johannesburg.
New demand for Durban Berea homes - Property24, 05 June
2013
Homes on the Berea in Durban are in demand once again and prices
have started to show modest growth.
Robertson’s country homes and farms - Property24, 04 June
2013
The town of Robertson, located in the Breede River Valley some 160
kilometres from Cape Town, is preparing to open its arms to thousands of
visitors as it stages the annual popular Wacky Wine Weekend from 6 to 9 June
2013.
Residents protest proposed Plettenberg Bay development -
eProp, 04 June 2013
Approximately 1 000 people made their way to the
town’s Central Beach to protest the proposed R4 billion development.
Durban North emerging as Industrial hotspot - eProp, 04 June
2013
Springfield Park, Riverhorse Valley, Briardene and Mount Edgecombe
are fast emerging as industrial hotspots in Durban North.
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| INTERNATIONAL
PROPERTY NEWS |
EU still stuck in recession, despite signs of recovery -
Business Day, 05 June 2013
The pace of the eurozone’s economic
contraction slowed in the first quarter of 2013 compared with the final quarter
of 2012, European Union statistics showed on Wednesday, but retail sales in
April pointed to continued weakness in household demand.
Tesco recovery in doubt as UK sales resume slide - Business
Day, 05 June 2013
Tesco, the world’s third-biggest retailer, posted a
drop in quarterly underlying sales in its mai British market, resuming a trend
seen for most of the past three years and raising doubts about its £1bn
turnaround plan.
US companies add more jobs but growth disappoints - Business
Day, 05 June 2013
Hiring by US firms was sluggish in May while a sharp
rise in mortgage interest rates last week weighed on what has been a buoyant
housing market, adding to signs the economy lost some momentum in the second
quarter.
US housing market starting to recover - Property24, 31 May
2013
The infamous US housing crisis which spilled over into worldwide
markets and was a major cause of the 2008 global financial crisis seems to
finally be over. In the US at least.
Spain's bad bank scares off property investors with high
prices - Moneyweb, 31 May 2013
Several major property investors say
Spain's bad bank Sareb is demanding overinflated prices for the best of its 51
billion euros of unwanted property and loans, delaying sales that could ease
some of the pressure on public finances.
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