The future looks bright for buy-to-let property investors in SA
While buying their own home is still a big life goal for most people, many families in South Africa cannot afford to do so at this stage, and must live in rented accommodation.
In fact, Berry Everitt, CEO of the Chas Everitt International property group, says the latest General Household Survey (GHS) conducted by StatsSA shows that there are about 3.4 million households currently in formal rental accommodation, as well as about 1 million in informal rental accommodation.
“And these numbers are no doubt set to grow as more young people move to SA’s urban areas to study or to seek work. Indeed, the GHS shows that new households are already being created at the rate of 2.4% a year, while the rate of population growth is only 1.3% a year, and notes that about a quarter of all households now consist of just one person, while only 38% are composed of more than three people,” he says.
Retailers encouraged to ‘evolve’ at this year’s SACSC Congress on 16 Oct
The highly anticipated event in the shopping centre and retail industry is just around the corner. The 23rd South African Council of Shopping Centres’ Annual Congress kicks off on 16 October 2019, sponsored by Broll Property Group.
Over 500 companies, world-class speakers and industry leaders will converge on Cape Town for this year’s sought-after event, aptly themed “EVOLVE.” Delegates will change the way they view the transforming retail industry after hearing thought-provoking and relevant insights from some of the best local and international speakers.
To survive and thrive in this constantly changing world, businesses must realise that evolution is no longer a ‘nice to have’ – it’s a necessity. But evolution is not a complete change, it is rather growth from where you were, to where you need to be in order to remain relevant.
Why you need to sort out your budget before buying a home
The majority of South Africans are notoriously bad at budgeting. According to the World Wide Worx ‘More Month Than Money’ survey, 57% of South Africans run out of money by the 15th of the month. Housing (41%) and groceries (24%) are the first things on which we spend our money, followed by transport costs (10%) and school fees (8%).
According to Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, homeowners can avoid facing this situation by working out their budget before buying their home.
“Considering that housing is the first thing on which South Africans spend their money, homeowners should make sure that they can afford to get through the rest of the month after having paid the monthly instalment on their home loan, as well as the various other costs involved in owning the property, before they go ahead with the purchase. This way they can be assured that they will have enough money left over to see them through the rest of the month without racking up debt.”
Selling your home? Six deterrents for potential buyers
When it comes to house hunting, things aren’t always what they seem. You’ve more than likely gone to a house viewing with the intention of getting one step closer to finding your dream home or at least get a better idea of where you want to live. What you didn’t expect to find were enough stairs to work up a sweat and a garden so steep that any attempt at maintaining the grass requires a safety harness.
Andrew Church, CEO of Rodel Finance, says if you’re planning to sell your property, it’s always a good idea to consider a few factors in and around your home that could deter potential buyers. More importantly, these deterrents need to be considered when searching for your new home:
1. Noisy freeways
Unfortunately, living close to a busy road or freeway can be a deterrent for prospective buyers, says Trish Hatch of Wakefields, Westville. While some may not mind the ongoing noise, others prefer a peaceful abode where they can kick back and relax.