'Hive living' increasingly popular
ReMax - South Africa
As many consumers feel the financial constraints of higher living costs, coupled with the rising property prices, more and more people have turned to hive living as means to get into the property market.
Essentially what this entails is several generations of a family purchasing a property that they can live in together, says Adrian Goslett of RE/MAX.
In a hive living scenario, each family member has their own space. However, there are communal areas of the property where all the family members can come together. For this reason, properties with multiple dwelling on the same stand are becoming increasingly more popular," says Goslett. He adds that in cases where properties do not already have multiple dwellings, some homeowners are subdividing or building granny flats that they can move into to allow their children to live in the main home with the families.
Fears over property bill implications
IolProperty - South Africa
Speculation was rife this week as to what the new Property Practitioners Bill 2016 will include, with many estate agencies and organisations raising concerns it could over-regulate the industry with a dire outcome.
The cabinet on Wednesday announced that the bill would be gazetted for public comment (probably in the next few weeks). It repeals the Estate Agency Affairs Act which is over 40 years old.
The cabinet said it "responds to the changing market conditions and dynamics, strives to create an enabling environment to enhance economic activity within the real estate market".
"It also addresses the need to enhance compliance and enforcement, as well as to ensure transformation in the sector and to regulate the conduct and behaviour of property practitioners."
Cape Town’s FDI strategy good news for property investors
Rawson - South Africa
Cape Town consistently places at the top of global tourist destination and travel awards, tourism has certainly fuelled the local economy and investment potential within the city over the years. More recent initiatives, however, have been aimed at expanding the city’s reputation beyond the leisure industry, and the resulting boom in the business sector is proving to be great news for property investors.
“Cape Town has always been a ‘gateway to Africa’,” says Tony Clarke, Managing Director of the Rawson Property Group. “Not only for travellers, but also businesses looking for a base from which to tap into the vast potential of the growing economy here and further north. Until recently, these opportunities have been overshadowed by our massive tourism sector, but the city’s increasing commitment to boosting its profile as more than just a tourist destination has really started to pay off.”
Residential Mortgage Market Growth Prospects Mar-2017
FNB - South Africa
After ending 2016 on a weakening note, the Residential Mortgage Market could “stabilise” in 2017.
Late in 2016, bonded home transactions were in a state of decline, both in terms of volume and value, according to our estimates taken from Deeds data. Other data, such as the Value of New Residential Mortgage Loans Granted, as published by the NCR and the SARB, also pointed to a year-on-year rate of decline. This was to be expected, given the rise in interest rates from early-2014 to early-2016, and given a multi-year economic growth slide all the way to a mere 0.3% by 2016.
2017 doesn’t promise huge excitement in the Residential Mortgage Market, but we do pencil in a possible return to mild positive growth in bonded home transactions as certain leading economic indicators turn for the better.
Residential Mortgage Market