Property News - August 2010
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.
As our featured development and residential property of the month we have focused on an elite property situated in prime La Lucia Ridge. Overlooking the Oppenheimer estate and with exceptional finishes and sea views, this newly renovated mansion represents the best value money can buy.
On the commercial and industrial property front you might like to consider reading our featured articles on the up and coming areas of Cato Ridge and Hammarsdale which are fast becoming the next major investment areas for businesses wanting to locate close to Durban but at a fraction of the cost.
Did you know that the new Companies Act is to be implemented shortly? It was passed into law on the 09th April 2009 and it was widely held that it was going to come into effect on the ...
Spurwing Industrial Park, one of KwaZulu-Natal’s largest industrial properties under a single roof, in Hammarsdale, is being re-launched following the removal of all the redundant equipment and a significant upgrade in many areas.
After the successful completion of projects building up to the World Cup, the focus of the eThekwini Municipality and its development partners must shift to new strategic developments. According to Rob McInerney of Share-List Property who attended a recent presentation by eThekwini Municipal Manager Dr Mike Sutcliffe, proposed new developments include a transport corridor from the proposed dugout port, linking it to a new transition node in Cato Ridge.
In May 2004, when FIFA appointed SA as the host of the 2010 Soccer World Cup and again in November 2006 in a road show to BoE clients, we evaluated SA’s hosting of the World Cup with reference to the “Ladder of Development” set out by the Japanese strategist Kenichi Ohmae. It is time to evaluate what we said then.
The decision by the Bank of England’s Monetary Committee to keep the base rate on hold at 0.5% for the sixteenth month running came as no surprise following last month’s emergency budget.
The Consumer Protection Act, 68 of 2008, (“the CPA”), was signed on 24 April 2009 and has since been promulgated in the Government Gazette. The CPA applies to all transactions occurring within South Africa as well as to the promotion or supply of goods and services within South Africa.
South African home values increased further in June 2010, but there are early indications that year-on-year price growth may peak in the near future. The average nominal value of small, medium and large houses for which Absa approved mortgage finance, increased by a weighted 14,8% year-on-year (y/y) in June.