National Budget 2019 'wish list' to boost SA’s property market
With the National Budget looming on 20 February 2019, the general consensus appears to be that Finance Minister Tito Mboweni is on a tightrope of sorts. He needs to deliver a Budget, pre-election, that will source maximum revenue to alleviate a major shortfall and also restore confidence, hopefully while containing costs and irregular expenditure. On the other hand, he is faced with consumers who are already baulking at higher taxes including VAT and facing inexorably rising costs of electricity, water, rates and fuel levies, among other indirect taxes.
As the housing market takes its lead from general business, investor and consumer confidence, coupled with the current state of the economy, “what we are hoping for is a Budget that will achieve a boost in sentiment and economic growth, while allaying global concerns regarding South Africa’s economic future,” says Dr Andrew Golding, chief executive of the Pam Golding Property group.
Book for intern estate agent training in Port Elizabeth 26-27 Feb
Since the promulgation of regulation 633 as an amendment to the current Estate Agency Affairs Act 112 of 1976 and effective from July 2008, many property practitioners have been undergoing learning to meet the education requirements of this regulation.
Salma le Roux, co-owner and trainer at ISiKolo School of Learning, an accredited real estate training provider, says Interns or new entrants to the property industry need to meet certain criteria before they obtain their full agent status. “They have to operate under the active supervision of a mentor until they obtain their full status. Hence it is in their interest to complete their studies as soon as possible.”
The idea behind the internship training programme was to ensure that interns receive theoretical and practical knowledge about a complicated industry, says Le Roux.
Gen Z is about to hit the property market - are we ready?
Every generation has its own idiosyncrasies when it comes to property, and knowing what these are can be an ace in the sleeve for existing owners and investors.
According to Tony Clarke, MD of the Rawson Property Group, the habits of Generation Y - otherwise known as millennials - are fairly well-known by now. Generation Z, on the other hand, has flown largely beneath the radar.
“Gen Z is one of the biggest generations to date, and is made up of people born between the mid-1990s to mid-2000s. That means they’re starting to hit their early- to mid-twenties round about now, which is when most people start thinking about entering the rental market with an eye towards possible future purchases,” says Clarke.
I own 50% of a property with an ex-boyfriend - what are my rights?
A Property24 reader asks:
I am a 43 year old woman, who in 2007, purchased property with my ‘boyfriend’ who after some time claimed that we purchased it as ‘friends’. We each own 50% of the property.
When we moved into the property, we decided that we would have our own rooms and rent out the remaining rooms. I have two kids with him and one from a previous relationship. However, after all these years he claims that because he spent more money than me on the property for maintenance and repairs, he has the right to enter my space whenever it suits him.
The situation is becoming difficult. I would like to know if what he’s doing is right, or do I have any rights? Also, how can I get out, as he will want to keep the property if I leave and I earn a small salary, so will battle to manage on my own with three kids?