Property News - September 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 are delighted to announce that Nico Smith and Caron Whateley have joined our team as specialist industrial and commercial brokers. Both Nico and Caron are well positioned to assist you with all your industrial and commercial sales and leasing requirements. We at PPI would like to formally welcome them both on board and wish them much success in their new appointment.
Both Nico and Carons full business profiles can be viewed via the following link:
People are scaling down due to economic pressures, and increasingly favour renting over owning. Home ownership has dropped from 70% a decade ago to just 62% now. 22% of sellers say their reason for selling is "downscaling due to financial pressure".
Acutts Motlekar, a joint venture between the Acutts Property Group and African investment holding company Motlekar Holdings, in conjunction with construction company Group Five as the building contractor and development manager, aimed to bring 18000 housing units to the market each year.
Prices are now more than 13% higher than the previous market peak in early 2008, but stamp duty and the uncertainty surrounding proposed tax changes for houses worth £2m+ begin to weigh on the market. Liam Bailey examines the figures.
One of the major underlying objectives of the Companies Act of 2008 is vigorously to promote the development of the South African economy through simplifying the procedures for forming and maintaining companies and, more especially, small private companies which are comparable to close corporations.
As readers may be aware, the Minister of Trade and Industry is empowered by the provisions of section 9(1) of the Broad- Based Black Economic Empowerment Act, 53 of 2003 (“the Act”), to issue Codes of Good Practice to facilitate the further interpretation and understanding of the Act.