Property News - December 2014
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 and news.
As the year draws to a close PPI would like to take this opportunity to wish all our clients, business associates, fund managers and valued newsletter subscribers a happy festive season and all the best going into the new year.
SA Property - Must an Owner pay for a new Exclusive Use Right?
Owners and trustees in sectional schemes regularly enquire whether the body corporate can charge money for the grant of exclusive use rights. Typically, the common property involved will be a parking bay, garden area, courtyard, patio or balcony.
Managing agency malfeasance - The theft of funds from sectional title schemes
According to a recent Personal Finance report, the Estate Agency Affairs Board is dealing with another theft by a managing agent, this being the most recent in an ongoing series of similar thefts of substantial sums of money. The legal officer for the EAAB confirmed that the Cape Town-based managing agent involved has agreed to repay R400 000,00 to one body corporate and that another theft is being investigated.
Investment Note - South African Party Politics and Inequality
Several long-simmering tensions have come to the boil during the first week of November suggesting the game is in two areas: party-politics and inequality.
Residential Research - Prime Outer London Index
Price growth is slowing in prime outer London as the general election approaches, an effect that is more marked in some areas, says Tom Bill
SA Property Funds - Growthpoint and Acucap announce terms of potential acquisition offer
Acucap Properties and Growthpoint Properties today jointly announced they have concluded an implementation agreement for the terms and conditions of a potential offer by Growthpoint to acquire all the shares in Acucap that Growthpoint doesn’t already own.