Property News - May 2025
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.
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Articles
South Africa - The numbers in the Budget vote (2025)
The vote on the Fiscal Framework was 194 for and 182 against, thus a slim majority of only 12. However, 24 members of Parliament (MPs) did not vote. A lot of uMkhonto weSizwe (MK) and Economic Freedom Fighters (EFF) members were absent, and some MPs who spoke against the Budget left the chamber before the vote.
Estate Planning - Do You Need a Second Will for Your Overseas Assets?
If you own assets outside South Africa, you may have wondered: Is my local will enough? This is a question many South Africans are asking, and the answer will depend on your own unique situation. Let’s break it down.
A Complex Issue - Beware Late Building Penalties
You find the perfect plot on which to build your dream home in a security estate. Your offer is accepted and transfer proceeds – happy days! So, imagine your distress when, having proudly taken ownership, you are suddenly told by the HOA (Homeowners’ Association) that you are liable for penalty levies because the previous owner didn’t build on the plot within the deadline period set out in the HOA’s constitution.
Community Matters - South Africa’s water crisis and the reform agenda
South Africa, one of the 30 driest countries globally, faces a deepening water crisis, driven by erratic rainfall, over-allocated water resources (98% already committed), and consumption far above the global average. Without major interventions, the country faces a projected 17% water shortfall by 2030. The crisis is worsened by failing infrastructure, poor infrastructure maintenance, and high non-revenue water losses (47%) — well above international norms — due to leaks, theft, and inadequate metering.
Body Corporate - Subsidence of Sectional Title Dwellings (Part 1)
This article examines the legal implications and responsibilities arising from foundation subsidence and consequent internal damage in sectional title schemes, using a real-life case study. The focus is on the duties of the body corporate and unit owners, and the application of relevant legislation, including the Sectional Titles Act 95 of 1986 and the Sectional Titles Schemes Management Act 8 of 2011.
