Property News - April 2015
Welcome to the PPI 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.
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With previous offerings virtually sold out, the last available residential estate investment opportunity in the Umhlanga Ridge area is opening up for an astute developer. Phase 2B an attractive opportunity on the idyllic Izinga residential location is being made available by the property development operation of Tongaat Hulett.
The balance that Finance Minister Nhlanhla Nene and the National Treasury were able to achieve in the Budget delivered today is heartening, given the current serious constraints on the SA economy, says Shaun Rademeyer, CEO of BetterBond Home Loans, SA’s leading mortgage originator.
Knight Frank’s Global House Price Index registered a fall in prices in the final quarter of 2014, its first quarterly decline in over two years. The latest data underlines not only the fragility of the global economic recovery but the extent to which it is filtering through to buyer sentiment.
There are three ways in which exclusive use areas in sectional title schemes can be created. This article will argue that, regardless of the manner in which such areas are created, they should all be treated in the same manner.
Where a VAT Vendor acquires fixed property from a Non-VAT Vendor, such transaction is subject to Transfer Duty at the prescribed rates. Prior to 10 January 2012, the purchasing VAT-Vendor was (under certain circumstances) able to claim the transfer duty paid in respect of the acquisition from SARS as a notional input tax credit.