Property News - May 2011
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 property we have included a large Durban North family home that has recently been reduced in price and offers excellent value for money. Our featured office and retail development has received strong tenant interest but we still have a few sites available for leasing at discounted rentals not found anywhere else within the Riverhorse Valley business precinct.
Should your primary residence be owned in a legal entity and you would like to take transfer into your personal name then you would be interested in our featured article by Victoria Hodgon from Garlicke and Bousfield Inc.
The European Central Bank is now talking about increasing rates and it's only a matter of time before the MPC pushes them up here.
The FNB Estate Agent Survey, released on Thursday, suggests that the upper-income segment appears to have slowed the most sharply from an early-2010 peak, while the high-net-worth segment continues to show the weakest demand reading, having remained relatively flat throughout 2010.
Many would argue that golf estates offer a trophy property second to none. Our cities are becoming more densely populated because of a shortage of serviced land, which makes open spaces and clean air privilege for the fortunate few.
The Estate Agency Affairs Board is pleased to announce that it has resolved to grant a three-month amnesty period to illegally operating estate agency practitioners. It is to be hoped that this innovative step will assist all persons who are presently operating illegally as estate agents to regularise their status.
In 2009 a grace period was introduced by the Income Tax Act No. 58 of 1962 (“the Act”) which allowed for a primary residence owned by a company, close corporation or trust, to be transferred to the relevant individuals without incurring capital gains tax or transfer duty.