Property News - September 2009
Welcome to our property investment newsletter, the aim of which is to keep you up to date and informed as to the most recent property trends.
South Africa has reduced interest rates yet again with the prime interest rate now down to 10.5% from 15.5% in mid 2008. (Please read the 3rd article in this month’s newsletter)
It would seem that property markets in general may have turned the corner with central London now recording the 5th consecutive monthly rise in property prices.
Articles
Legal Talk - Financial Intelligence Centre Act
Estate agents are “accountable institutions” within the scope of the Financial Intelligence Centre Act, Act 38 of 2001 (FICA). This article provides a broad overview of estate agents duties in terms of FICA.
Political Comment - Strikes and unrest – SA’s winter of discontent
The combined effect of strikes and social unrest has attracted the attention of all, including the international news networks. Let’s analyse them separately as they are driven by very different circumstances and causes.
SA Mortgages – Interest rates cut by 50 basis points to 2006 levels
The South African Reserve Bank’s Monetary Policy Committee cut the key monetary policy interest rate – the repo rate – further, by 50 basis points to 7,0%. In reaction to this, Absa announced that its lending rates to the public, i.e. prime and mortgage rates, will be cut by the same magnitude ...
Alliance Group – Expose your property to the US market
Alliance Group announces strategic partnership with New York real estate auction company, Bidonthecity.com, the first online trading platform for Manhattan real estate …
UK Property - Prime London prices rise for fifth month leading to sales volume boom
Prices for residential property in central London rose for the fifth consecutive month by 1% in August. This latest price rise means that prices are now 6.4% higher then they were in March (the low point in the recent market cycle).
