Property News - November 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 our development focus is on the newly renovated Berea Loft Apartments. Where else can one buy an investment property for under R300k. These units are an absolute give away.
Please hurry, these will sell fast!
We are all familiar with the terms "option", "right of first refusal" and "pre –emptive right", but is there really a distinction between these concepts?
Rising demand from affluent residents and the creation of London’s first contemporary urban quarter - factors which have meant that Knight Frank have revised the methodology the Prime Central London Residential Index to include Southbank.
The Reserve Bank’s Monetary Policy Committee (MPC) announced a hike of 50 basis points in the repo rate to 10,5%, prompting banks to raise their prime and mortgage rates to 14%. Interest rates have been hiked by a total of 350 basis points since mid-2006.
Most entrepreneurs would like to invest in the property market, either by owning the property they presently occupy and rent or by purchasing an investment property such as a small industrial or commercial complex.
Auction is probably one of the most efficient methods of buying and selling property. It’s quick, it’s certain and it doesn’t involve gazumping (phenomenon in traditional real estate sales where counter-offers often cancel out agreed sale prices) – once the gavel falls, the contract is made.