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Property News

Ideal time to buy in East London

The mix of lower interest rates, razorsharp competition between banks for new homeloan business and still softening residential prices has presented wouldbe East London buyers with an ideal time to purchase, says Howard Bradshaw of Homenet Tony Monson.Given a continuation of the current levels of interest rates, he expects prices to start improving early next year. That East London's downward trend in prices hasn't been arrested yet, he ascribes to homeowners still struggling to overcome financial pressures exerted on them from last year's run to record highs.

Pay attention to “hidden” clauses


Commercial leasing decisions are about a lot more than the rent – or should be, if tenants want to minimise their liabilities.

Polifin relocates to Bryanston


Plastics and chemicals giant Polifin has relocated its international and greaterJohannesburg divisions to new headquarters overlooking the Bryanston Country Club golf course.Located in the new Bryanston business precinct, the building comprises 8800sqm of office space in its own secure enclave. Major advantages of the new location, according to Polifin MD Trevor Munday, are proximity to freeways, accessibility, lack of traffic congestion and generous parking provisions.

Tenants beware of unethical landlord tactics

Estate agents who manage leased properties may not take the law into their own hands to extract payment of rental arrears from tenants. And they may not write clauses into lease agreements with the intention of circumventing the standard legal process to be followed when a tenant defaults.So says the Estate Agency Affairs Board, which notes that it has been receiving an alarming number of complaints about estate agents taking unorthodox – and sometimes unlawful – steps to recover rental arrears.

Construction management gains ground


No markups, no hidden discounts, no kickbacks. That’s the reason more and more companies worldwide are adopting construction management (CM) as their preferred building procurement method.

Showhome owners’s crime concern

Homenet's KZN director Dirk van Zuilekom has appealed for homeseekers’ cooperation at showhouses by supplying the agent on duty with their personal details if asked to do so."Sellers, in view of the high crime rate, want to know who has been visiting their home, especially now that showhouse attendances have picked up in recent weeks."

Mitchell’s Plain price caution


An estate agent servicing the Mitchell’s Plain area has cautioned residents against expectations of price increases, until at least into the second quarter of next year.

Agents’ own training funding mooted

A Sandton estate agency principal has mooted the idea of candidate agents either paying for their own training or being made to serve an apprenticeship.

RE/MAX powers ahead

The RE/MAX group is forging ahead with sales on track for over R1,5 billion this year says RE/MAX Southern Africa CEO Peter Gilmour.Gilmour is distinctly upbeat.

Leasebacks back in vogue

Sale and leasebacks of commercial office space where property is sold, and the same property leased back to the seller by the new owner, are again in vogue.