Property News - July 2010
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.
As our featured development and property of the month we have focused on the Umhlanga Ridge and Gateway Business Precinct where we currently have a good supply of well priced and affordable property for sale or to lease. We are anticipating a strong uptake of interest in this location as a result of the successful opening of new King Shaka International Airport north of Durban.
We would also like to thank Simon Watson from Cox Yeats Attorneys for his valuable contribution. Please see his featured article with the latest update on the Consumer Protection Act. (A valuable read for all SA business owners and entrepreneurs)
Articles
Political Comment - March to modernity (Personal account of a visit to Russia)
What would you think of a country that has amassed forex reserves of more than $400 billion and rising? In a world of deficits and too much debt, it certainly is a nice bank balance to have. Russia is a country on the comeback trail.
UK Property - Russian demand pushes central London prices higher
London residential market is continuing to lead the wider UK market. The weak pound is having the effect of pulling in demand from overseas buyers, who view London as offering good value, with prices still 34% lower in dollar terms from the 2008 peak.
Today’s decision by the Bank of England’s Monetary Committee to keep the base rate on hold at 0.5% for the fifteenth month running was in line with the market’s expectations.
SA Property Finance - Reverse Mortgages
A reverse mortgage is a mortgage loan which is usually made available to senior citizens who own immovable property with a view to releasing the available home equity to the owners at a specified equity percentage for their age.
Legal Matters – An overview of the South African Consumer Protection Act
The purpose of this up-date is to outline some possible implications of the Consumer Protection Act, a wide arching piece of legislation which will have far reaching consequences for both consumers and the businesses who serve their needs. Some potential consequences of the Act will be offered along with a summary of the scope of the codified consumer rights.
Property Development - Contraction in South African residential building activity continues
Building activity in South Africa’s residential property sector continued to contract on an annual basis up to April 2010, with the segment of houses larger than 80m² recording a slowing pace of contraction in levels of activity since the second half of 2009.
