The retail property sector appears to have outperformed the other property sectors over the past two or three decades, says Loos – FNB. The long-term house price index had inflated by 670% since 1996 and that of the retail property market by 877%.
IOL, publishing a report by a Rawson property franchisee, says that the Western Cape housing rental market has reached a point where supply outstrips demand. This should result in a normalisation of Western Cape rentals.
FLISP: are you aware that if you are a first-time home buyer earning less than R22k per month, you are entitled to a subsidy? Reference
The Times reported that Oceans Umhlanga, the potentially largest mixed-use development (R4.3bns worth) in the country has stalled. The difficulty appears to be the financial well-being of Liviero Building and is ascribed to “contractual complications”!
True ownership: the Mthonjangeni (think Dingaan’s kraal) community and the Ingonyama trust is at loggerheads over land claimed by and expropriated in favour of that community. The trust wishes to hold the land in trust rather than have the community owning land in their own name saying that the community is subject to the king and that the land in question belongs to the Zulu nation. Ominously, it says that if this is not done there will be “conflict, chaos and bloodletting”. A threat, which I have no doubt, will sway the Land Claims Court…
