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Property News

RE/MAX enters commercial and industrial market


The RE/MAX property group is now tapping into the commercial and industrial property market in keeping with a new, worldwide initiative by RE/MAX International.

High Court master’s OK needed for sale


An estate agent who obtains a mandate from a provisional trustee to sell a property belonging to an insolvent estate must ensure that this person has written permission from the Master of the High Court to dispose of the property.

Varsity towns new hot spots for developers


Developers prospecting for "hot" areas in which to build cluster homes or townhouses should take a new look at university towns and suburbs.

Office space getting scarcer


Office space in South Africa’s new financial centre is hard to find, notes Kevin Rawnsley, CE of Regus in SA not only in Sandton but also in the high demand decentralised office nodes around Cape Town and Durban.

Cutthroat home loan industry a ‘minefield’

This year's proliferation of competitive home loan products had turned home loan finance into a veritable minefield for potential borrowers, unless they sought expert and unbiased advice, says Wakefields CEO Keith Wakefield.The mix and range of home loan products and benefits had become so complex that traditional advice centres on home financing such as estate agents, lawyers and even financial advisers are not always able to help.

Homenet reports excellent Pretoria sales

A lower interest rate stimulated recovery is creating good activity in the bottom and upper ends of Pretoria's residential property market, but the middle market remains a little sluggish, according to a Homenet survey.Homenet Pretor reports excellent sales in October and a third quarter sales turnover 15 percent higher than in the second quarter. October's activity for the company was supported by an increase in the number of cash buyers.

Plett expects bumper property season

Plettenberg Bay has reported its best "low" season in volume of residential property sales for the past three years and local estate agents expect the markedly improved conditions to gain further hold during Christmas's "high" season.Anchoring their belief is the number of holiday bookings reported by accommodation facilities, which Esme D'Axon of Homenet Pick of Plett says promises good market exposure and impetus for future sales.

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.