This week in SA property…
This week in SA property…
Posted on August 7th, 2009
Huis-Huis
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:
- Royal Real Estate – Zulu Prince Melizwe Dlamini III bought real estate agency Seeff’s Umhlanga branch. Looks like some people just can’t have enough money…
- Building hijackers might actually get evicted – Gauteng community safety MEC Khabisi Mosunkutu announced that Police will raid buildings they suspect have been hijacked. Erm … I kinda thought that was the idea right from the start, no? Well, at least someone has actually come out and SAID it. But I think we’ll talk again when we actually SEE those evictions, won’t we?
- Property and Tax problems – If you don’t pay your taxes, you won’t get to buy or sell property. That’s what Gerhard Kotzé, CEO of the ERA South Africa property group, had to say about property and taxes. But you knew this already and your taxes are paid up, aren’t they?
- House Prices Drop 4.2% – due to the first recession in 17 years, rising job losses and curbed consumer spending, according to ABSA. Standard Bank figures it’s a 4.9% drop. But we don’t want to be that negative, do we?
- Score when other people are in trouble – Take advantage of other people’s misery and enrich yourself when the property market recovers. It is the South African way, after all. Eat or be eaten!
Much more happened in the world of South African real estate, but that’s what stood out for us.
On our website, the weeks most popular searches were:
It would seem like the saga continues… Some buildings are still standing and some buyers are still buying. Property is wonderful, isn’t it?
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