Commercial property a safer investment option than shares
Now, more than ever, investors are finding it a safer option to invest in direct property than in shares according to Norman Raad, CEO of Broll Auctions & Sales, who says the recent slump in numerous listed property shares, which have been trading well over their net asset value (NAV), is testament to the fact that momentum experienced can become somewhat ‘addictive’.
“As a result, while the investors were chasing the stock and driving the share price up, we tended to lose sight of the underlying true NAV of the investments,” he says.
As many people recently lost money on selected property investments, Raad says the question investors must now ask themselves is whether to invest in direct property or not. “The answer is simple and is in the affirmative, provided that you have a good management team in place, that you are paying nothing more than the true NAV of the bricks and mortar - and that you are not relying on conveniently overinflated rental income.
Valuation objections: Payment reprieve for Joburg property owners
Executive Mayor of the City of Johannesburg, councillor Herman Mashaba, has announced that steps have been taken to ensure that property owners who objected to their property valuations in the 2018 General Valuations Roll will receive further support from the City.
Those who have objected to their property valuations, he says, will be allowed to continue paying what they have been paying historically until the objection process is finalised.
“The City will ensure no credit management processes will be initiated against objectors, conditioned upon continued payments of their previous rates payments to the City, along with their invoiced service charges,” says Mashaba. “Their invoices will still reflect the rates charge on the new valuation, because the law prescribes this.”
Upgrading to a bigger or better home: Is it a good financial decision?
The thing about the property ladder is that at some point in our lives we all have reason to want to climb a rung or two higher.
Sometimes, it’s because we’ve outgrown our previous dream home or we want to be in a better neighbourhood that’s closer to work or to schools. Maybe it’s because our circumstances have changed and we’re taking care of elderly parents or relatives. Or, it’s just because we want a property that reflects the financial status our hard work has won.
Whatever the reason, upgrading to a bigger or better property is a decision that shouldn’t be taken lightly. Schalk van der Merwe, franchisee for the Rawson Properties Helderberg Group, says it’s essential to have a game plan for long-term satisfaction.
Multigenerational family living on the rise in Gauteng and KZN
The City of Cape Town recently amended a municipal bylaw to allow owners the automatic right to build a second dwelling on most properties in Cape Town. The growing popularity in the Western Cape of the multigenerational-living trend is surely a contributor to that decision.
It seems that this trend is on the upswing in Gauteng and KwaZulu-Natal too.
Brian van Wijk, from Just Property in Centurion East, Centurion South, Midrand and Moreleta Park, says he has noticed an increase in his trading areas. Lawrence Homan, owner of Just Property Margate and Berea, has too. He says on the South Coast (Margate, Ramsgate and Shelly Beach), they have noticed a definite rise in multigenerational living. And there’s been a substantial rise in Durban’s Berea area on the rental side, he says. Both say the reason for this is simple: cost saving.
Failure to submit tax returns can get you a criminal record
Taxpayers who do not submit their tax returns will end up with a criminal record, the South African Revenue Service (SARS) said on Monday, 16 April 2018.
In its statement, the revenue service said it had embarked on a new initiative with the National Prosecuting Authority (NPA) to prosecute non-compliant taxpayers, including prominent South Africans, who have failed to submit returns.
“Taxpayers who are found guilty will end up with a criminal record. The initiative has already seen its first conviction in Port Shepstone last week,” it said.
Dos and don’ts for marketing property online
There is no point in trying to fight it: the world has gone digital. From updating your debit orders to doing your grocery shopping, most everyday tasks have migrated to the realm of ones and zeros. Why should selling a home be any different?
“In today’s market, most buyers will view a property online before they make the effort to view it in person. Sellers who do not take the time to ensure that their property is marketed correctly online are dramatically decreasing the true marketing potential of their homes,” says Adrian Goslett, Regional Director and CEO of REMAX of Southern Africa.
Below is his advice on how to ensure that you get the most out of your online marketing: