The past four or so years have seen mammoth changes in trading conditions and economic stability the world over. However, despite numerous international economic crises, during 2011, the South African property market adjusted back to some sense of normality. “The last three years,” says Peter Gilmour, Chairman of RE/MAX of Southern Africa, “have changed the face of real estate on a local level forever.” Gilmour says that despite all indications of slow and steady trading conditions for the 2011 year, ... View Article

With housing prices feeling the strain, some economists predicting interest rate hikes and a possible double dip in the market, there does not seem to be much about the current housing market to be optimistic about, or is there? Peter Gilmour, Chairman of RE/MAX of Southern Africa, says that globally most people, if not all people, aspire to homeownership and the South African consumer is no different - we want to own a home that we can call our own. ... View Article

In a depressed market, such as the one we are currently in, many people find themselves asking whether it is more financially prudent to buy their own home or to rent one instead. Adrian Goslett, CEO of RE/MAX of Southern Africa, sheds some light on this age old question. “While the level of South Africans who now own their property has risen dramatically over the last decade, with the ever increasing cost of living coupled with high personal debt-to-income ratios, ... View Article

In spite of interest rates being at a 33-year low, banks remain very cautious in granting home loans, with all information submitted to them being thoroughly analysed to ensure applicants can afford to buy, says Kim Pistor, legal adviser and conveyancing manager for Rabie Property Group. Pistor says although it is relatively straight forward to confirm the monthly earnings of salaried applicants, the same can't be said for those who are self-employed. "In these cases supporting documentation is a key ... View Article

Most of us have experienced moving to a new house or community at some stage of our lives. For some the experience may have been an easy one with few or no obstacles, while for others it may have been a rather rocky road. Allocate a specific colour to each room in the new house, then mark each box with items for that room with a sticker of that colour. 1. Have a base to work from– Set aside a ... View Article

“This makes for a great deal of anxiety for both buyers and sellers,” says Jan Davel, MD of the RealNet estate agency group. “However it can easily be avoided if prospective buyers get loan pre-approvals from their banks or through their originators before they start viewing properties.” Most sale agreements, he explains, contain a contingency clause that provides for the sale to be cancelled if the buyer cannot obtain the required home loan within a certain period. Such clauses are ... View Article

Property is perceived to be one of the best investments that can be made and inevitably almost every earning individual invests in property at some stage in his life, be it for residential purposes, speculation or investment. It also happens to be among the first asset acquisitions after individuals pick up a job and find that they can put away some of their earnings for alternative uses. Property, of course, is an expensive proposition since it requires a larger amount ... View Article

You have seen the house that you want to buy; you have saved for the inevitable deposit, now are you ‘A’ for away or is it time to go to plan B? Regardless of how well you think you understand the buying process, times have changed where even those with solid property portfolios have had to rethink the way they do business in the current economic climate. Theoretically, housing markets should be flourishing, with Interest rates at an all-time low, ... View Article

“The areas north of Durban, namely Durban North, La Lucia, Umhlanga, Mount Edgecombe and Ballito, are seeing increased activity taking place and this is being driven by the fact that this has become a key growth corridor or node, rather than the overt recovery of the property market nationally. What we are seeing is a decentralisation out of the city centre into these northern suburbs and this is seen against the backdrop of the launch of the new King Shaka ... View Article

“Global economic concerns, riots, war, famine and local socio-political unrest have all contributed to the pall currently hanging over the property markets of South Africa and the rest of the world for that matter,” says Biehler. “Nonetheless if you look beyond the upheavals there is still a lot going for this country. Our banking and financial systems are sound, our national debt is low, we still enjoy a comparatively high standard of living and the country is blessed by an ... View Article