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Property 24/10 - 430

15 November 2018

SA is the ‘next big thing’ for the world’s richest home buyers
International investors are showing renewed interest in South Africa - and nowhere is this more clearly reflected than in the country’s luxury property sectors according to Berry Everitt, CEO of the Chas Everitt International property group.

“When President Cyril Ramaphosa took office earlier this year, he promised us a ‘New Dawn’ fuelled by US$100 billion worth of new foreign and local investments, and after October’s investment summit in Johannesburg, he and his investment envoys are more than halfway towards reaching that goal,” says Everitt.
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Africa’s future is urban, but how do we get there?
As the continent’s largest economy, international development experts, innovators and funders increasingly believe that Nigeria is positioned to provide a market-driven solution to one of the continent’s most significant challenges and opportunities: affordable housing.

While Nigeria’s size, ability to scale and recalibrated post-recession economy provides the ammunition for such a task, the scale of the endeavour requires the participation of multiple public and private sector participants to collaborate and make it a reality.
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10 character traits you need to be a successful estate agent
Whether you're a seasoned professional or considering a career path in real estate, it's good to know what what character traits are necessary to thrive and succeed.

Paul Stevens, CEO of Just Property, discusses what it takes to be a successful real estate agent in today’s climate. If you have these ten character traits, the world of real estate could be your calling:

1. Resiliency
The ability to weather ups and downs is inherent in any industry. Life never goes exactly the way the business plan describes it, so agents have to be the kind of positive people who keep going even when there are obstacles in their path.
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Buying property in a trust might not be a good idea anymore
In previous years it certainly made good estate planning sense when buying fixed property, either a residence, a holiday home or business premises, to register this property in an ‘inter vivos’ trust. This form of registration ensured that the growth of value of the property was ring-fenced within the trust and did not affect the value of the individual’s estate and provided for continuity through generations.

This is according to David Knott, a fiduciary specialist from Private Client Trust who advises that some even recommended that you should register in a trust so as to enable the trust and not the property to be ‘sold’ later, thereby bypassing the payment of transfer duties.
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Millennials and Gen Z: How to avoid and escape the ‘rent trap’
So what exactly is ‘the rent trap’, and why should one aim to avoid it? The rent trap describes a situation where people get stuck in a position where they are continuously renting property, instead of buying their own. The reason why this is particularly relevant for millennial and Gen Z tenants is that this rent trap gets harder and harder to break out of as you get older.

Those who are moving into their first home will face the decision to rent or purchase their first property. The option to purchase will only be available if money has been saved up for a deposit. “In the scenario where money for a deposit isn’t saved, you will have to rent for a period. Avoid spending all of the budget available to you on rent alone,” advises Just Property CEO, Paul Stevens.
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