Property News - October 2007
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 would like to draw your particular attention to our 4th article which should help give you a good indication of where global property prices are heading and the results of what have turned out to be the best performing countries in the world.
In our featured property slots we have both a United Kingdom buy-to-let property investment package as well as an awesome piece of development land in the exclusive Brettenwood Eco Estate on the North Coast of South Africa.
Both these developments are great investment opportunities and we encourage our readers to take the time to have a look at them. Full investment reports can be provided on request.
The Knight Frank Prime Central London index reveals that the uncertainty in the financial markets during August has had limited immediate impact on the prime central London residential market. Our forecast is that price growth in prime central London will cool from the current 36% annualised rate, to hit 30% by the year end, close to the 29% recorded for the year to December 2006.
Buying a home is a big decision, but with the right advice and assistance the process needn’t be overly drawn out or complicated. There are seven major steps when buying a home, and your Bond Choice consultant will help you through each and every one!
Even before the times of the Conquest, the device of the Trust enjoyed tremendous popularity as it enabled a landowner to evade some of the feudal dues that fell on the person seized of land. But while even from those early days the trust was utilized for reasons of tax mitigation, there are today other, possibly more compelling reasons for creating a trust.
The latest Knight Frank Global Price Index reveals that growth in residential property prices around the world is slowing. On an unweighted basis prices globally are rising by 7.8% per annum to Q2 2007 compared to 9.6% 12 months earlier. Rising interest rates have been a major factor in slowing house price growth, together with the tightening of lending criteria seen in many European countries.
All agreements for the disposal of land (real estate) in the Republic must, by virtue of the provisions of the Alienation of Land Act No. 68 of 1981 as amended, be in writing and signed by the parties thereto or by their agents acting on their written authority, failing which such agreements are of no force or effect. This requirement does not apply to the sale of land by public auction.
Data released by the South African Reserve Bank showed growth of 26,4% year-on-year was recorded in mortgage advances by the monetary sector in August 2007 (26,7% in July). This brought the total amount of mortgage advances to R793,1 billion in August.