Property News - August 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.
This month we have managed to secure a number of large land and turn key development opportunities at Durban’s new King Shaka International Airport which is now scheduled for completion in 2010. For general industrial warehousing now is the time to get involved. Please see our featured development or contact Bradley Hancock on 072 019 6192 or via email [email protected]
June 2009 saw a continuation of the declining trend in both nominal and real house prices in the South African housing market.
During the first half of 2008 yields improved as the rental market held its ground while the sales market was hit hard by falling prices. As we moved into 2009 the reverse situation has occurred – with rents under pressure from rapid supply growth and only modest growth in tenant demand.
Alliance Finance has been attracting massive public interest, says Alliance Group Director Michael Barr. He explains that the finance products that Alliance Group has been rolling out are “intrinsically tied to Alliance Group’s core auction and distressed asset recovery service offerings.” Commercial property owners are able to access equity by taking a loan on their property through the financial products and lending solutions offered by Alliance Group.
It will be found that, in most material respects, the licensing requirements of financial service providers under the Financial Advisory and Intermediary Services Act [FAIS] and those of estate agents as prescribed by the Estate Agency Affairs Act, are, as can probably be anticipated, fairly consistent for two service orientated professions that are regulated in the public interest.
A shortage of new build housing will emerge in the South East of England next year, according to the latest Knight Frank residential development review. New build starts in the region this year are likely to amount to the lowest since the 1950s.