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Property News

QS’s resources too thin to meet upswing

The Association of South African Quantity Surveyors (ASAQS) has raised reservations about the profession's current ability to meet the more than three percent growth rate being liberally punted for the economy this year.

Rentals firm in rate cut expectancy

Further increases in residential rentals this year are expected to speed up the current flow of investor activity in Weltevreden Park's residential property market.

New system to aid Seeff’s consumer relations

CAPE TOWN

A R2,6 million computerised system is intended to help position Seeff at the head of real estate consumer services by the end of the year. This is a result of the company’s drive for a more aggressive focus on client needs.

Bloemfontein market’s black year over

Bloemfontein's estate agents recall a bitter first half of last year, according to Mike Spencer of Homenet Mike Spencer, labelling it the worst in his 26-year history as an estate agent in the city. Some drastic rationalising took place in local estate agencies until the market snapped back into reasonable activity levels from May. Since then, Spencer says, the continuing slide in interest rates has kept the market "exceptionally busy".

East London’s German ‘boom’

The arrival in East London of some 300 German families to take up three year work contracts at the Daimler Chrysler plant in the city has presented excellent opportunities for local investors to harvest potentially excellent rental returns.

Visiting Germans see through crime ‘hype’

DURBAN

German investment in South African residential property could double or even treble next year, says Homenet's Munich-based German representative Gaby Mossner. She also claims the country's international high crime reputation is having a negative effect on potential German investment in property.

Somerset West residential sales firming

Somerset West's residential property prices based on current demand patterns are forecast to start firming toward the end of March. Prices have already started to respond to low stock shortages by nudging ahead in the upper end of the local property market.

Durban’s Phoenix rising

Durban’s Phoenix residential property market is facing an “exceptional” 2000, says Themba Madondo of Homenet SA Properties. The suburb has become a popular steppingstone for black families upgrading from the townships to the traditional suburbs.

Plett ‘not beyond affordability’

There is still a lingering misconception that Plettenberg Bay property is beyond affordability, while in truth, says Leticia Gavrill of the new RE/MAX Prime Properties franchise, anything from R150 000 apartments to multimillion rand beachfront mansions is available.

Cape property market primes for seasonal upturn

Property market conditions in the Peninsula are looking positive as the traditionally buoyant holiday sales season gets under way and buyers from Gauteng add their weight to demand.