Property News - June 2012
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.
This month we would like to welcome PayProp as a contributor to our monthly newsletter. Please see below article in which they give a comprehensive view of the state of the residential rental market in South Africa.
The value of prime property in the world’s key cities fell by 0.4% in the first quarter of 2012. This represents the index’s first quarterly fall since the depths of the global recession.
A servitude holder may not increase the burden to other users of a property servitude beyond the express and implied terms of such servitudes. In giving his judgment, the judge said that all law in South Africa is “subject to the principle of reasonableness”
The Financial Intelligence Centre (the FIC) is the South African national intelligence unit, which provides information relating to financial matters to law enforcement agencies, intelligence agencies and the South African Revenue Service (SARS).
The Estate Agency Affairs Board (EAAB) continues to cooperate closely with the Financial Intelligence Centre (FIC) in the quest to eliminate money laundering.
The current downward trend in the South African economy appears to be taking its toll on both landlords and tenants, as affordability slows rental income in some provinces while limited stock in others drives up rental prices to almost double the inflation rate.