Property News - July 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.
This month we would like to draw your attention to the Knight Frank Global House Price Inex. You will notice that the Asian countries are firmly at the top of the table as Europe and North America languish with South Africa comming in behind the United Kingdom.
As our featured property we have included a large industrial warehouse in prime North Coast Road which has recently become available to lease. 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.
Both principal and non-principal estate agency practitioners are once again reminded that, if they held a valid fidelity fund certificate issued by the Estate Agency Affairs Board on 15 July 2008, they are required to complete the appropriate SAQA registered educational qualification for estate agents by no later than 31 December 2011 in order to retain a fidelity fund certificate for the 2012 calendar year.
There are five things you should consider before entrusting the management of your property to an agent
Price growth, while not stalling, has faltered in Q1 2011, pointing to ongoing problems underlying the world’s housing markets. In Q4 2010 overall annual price growth stood at 3.3%. Three months later this shrank to 1.8%.
Most property transactions in South Africa are affected by the legislation in terms of which taxes and duties are levied. This article provides a summary on some of these taxes.
The Income Tax Act provides that an objection or appeal does not suspend the obligation to pay tax, unless the South African Revenue Service (SARS) directs otherwise. This is known as the pay-now-argue-later principle.
Following on from last month’s summary of some of the more poignant deals concluded by us, property seems to be flying off the shelves with more successful transactions being conclude by Portfolio Property Investments.