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This week in SA property…
Bad news for SA Property
Things aren’t looking too rosy for the world of real estate in South Africa this week. But after a loooong time of only positive headlines about the property market in South Africa, an impartial person might actually see the recent developments as a welcome change. But who, on the other hand, is impartial when it comes to their real estate, hmmm?
This is a summary of things we have noticed happening in the realm of South African real estate this past week: Continue This week in SA property… »
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FNB goes back on its word
This morning I was lying in bed being woken by the good folks of Morning Live on SABC2. And all drowsiness dissapated at about 6:30 with an interview involving an FNB spokesman and the Banking Ombudsman of South Africa.
Apparently, First National Bank(FNB) is going to re-assess home loans that the bank had already approved a year or more ago. The home loans that will be reconsidered include about 2000 approved mortgages that have, after a period of a year or more, not yet been registered against the title deeds of the relevant properties. The bank plans to reassess the loan applicants’ credit based on the current credit assessment standards and their current debt load and general financial position. The rest of FNB goes back on its word »
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The problem with shareblock
In October last year Property 24 reported that the National Credit Act was responsible for shareblock sales along the Durban beach front plummeting. Is this still the case? I can’t seem to find more articles along the same line, so maybe not? I don’t know. But I’d love to hear from readers with share block property about their experiences! See the rest of The problem with shareblock »
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State of the property
Anyone who has been keeping an eye on residential areas in South Africa can tell you that the South African real estate market is a whole lot slower nowadays than a year or two ago. For Sale signs stand on sidewalks for months – some seemingly sprouting seedlings in the meantime – without success. Continue reading State of the property »
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Contentious Expropriation Bill
In South Africa, as in other countries in Southern Africa, ownership of land is an emotional issue. But land is also a financial issue. And when money and emotions collide with legislation that is unfair, or even simply perceived to be unfair, things can turn ugly quickly. Continue Contentious Expropriation Bill »
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