Huletts is reportedly targeting an area across the Shongweni turnoff off the N3 for a new town development to be named Ntshonweni. Take a look at this report: Reference
Rhode opines that house prices in South Africa are still high in real terms. He forecasts that, in real terms, house prices will slowly keep going down.
One tends to forget: an iol note reminds one that in 1983 – 1987 our interest rate was in the 20 – 25% range and you could not sell anything in Camps Bay. Just five years ago, you could still buy in Camps Bay for R6m. Now the entry-level price is R10m.
BetterBond reports that the number of bonds in the R500k- R1m (which accounts for 42.5% of loans granted) has picked up by 3.9% and that the value of these bonds have increased by almost 11%. Perhaps our property market is not quite that bad – see above!
The Law Society has sent out a conveyancers’ checklist (spelt incorrectly) of guidelines that may be followed by conveyancers when applying for transfer duty receipts. If you have not received yours, ask me for a copy.