Property News - October 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.
Please note this months featured article by Yianni Pavlou, founding member and principal of PPI, as he highlights some of the more poignant deals concluded in Durban. Please contact us with all your residential, commercial and industrial property requirements. Whether you are looking to rent or buy we are here to assist you our valued clients.
Between 1994 and June 2010, government built over 2,7 million homes for South Africans, giving shelter to more than 13 million people.
Knight Frank/Markit’s September House Price Sentiment Index (HPSI) shows that the pace of house price declines eased in September, although prices are perceived to have fallen every month since July 2010.
The Municipal Property Rates Amendment Bill - currently before Parliment - sets out to charge people who own more than one residential property commercial rates on the additional homes.
South Africa is experiencing a property market correction. The question is whether it is or has been on the same scale as has been experienced in the USA during the last 3 years.
The recently enacted Consumer Protection Act gives tenants who are individuals too many rights at the expense of landlords, and could make it harder for them to find properties to rent.
Founding member and principal of Portfolio Property Investments, Yianni Pavlou, comments on some of the latest property transactions to be concluded in Durban. PPI has this month managed to conclude a mix bag of sales and leases across all sectors of the property market which have included residential land and houses, industrial warehouses and factories, as well as prime commercial offices and retail sites.