Property News - May 2016
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.
Please feel free to contact us with regards to all your Residential, Commercial and Industrial sales, lettings and property management requirements. We look forward to being of service to you!
Foreigners can purchase and own immovable property in South Africa without restriction. Non-nationals are subject to the same laws as nationals. The only ineligible people are illegal aliens who are not allowed to own immovable property in South Africa.
Since the promulgation of the Consumer Protection Act on 1 April 2011 (CPA) there has been debate as to whether the voetstoots clause is permitted by the CPA.
The Knight Frank Global House Price Index* increased by 3% in 2015, up from 2.3% in 2014. Concerns over the global economy in 2015 failed to dent buyer confidence; instead the lingering low interest rate environment influenced sentiment.
Knight Frank’s Prime Global Rental Index fell by 1.1% in 2015 with equity market volatility and economic fragility in emerging markets driving rents lower.
A recent analysis conducted by KPMG to determine the economic and financial viability of the Cornubia development north of Durban shows that it holds unquestionable benefit to the city, its people and the economy.