Transfer Duty Declaration Amendment
South Africa - SARS
From 1st June 2018, it is mandatory to complete the ‘Deeds Number’ field within the ‘Details of Purchaser’ section on the Transfer Duty Declaration (TDC01). Please ensure that the Title Deed Number, as currently held by the seller is the one that is captured. The TDC01 is a legally binding declaration and it is imperative that the correct Title Deed Number is supplied.
Township micro-developers thrive in affordable market
South Africa - Property360
Entrepreneurs providing ‘a phenomenal service to community’
A new generation of property entrepreneurs is emerging in Cape Town’s townships. They have seen a gap in the property market for low-cost rental accommodation, and have seized the opportunity by building solid bricks-and-mortar developments offering affordable micro-units.
Developments can include up to 10 units, are often double-storey, and vary in size from about 10m² to about 40m². Rents range between R1?500 and R3?000.
“Call it backyarding version 2.0, in that it is bricks and mortar, the accommodation is legal, safe (built according to approved plans) and affordable,” says Zama Mgwatyu, a project manager at the Development Action Group (DAG), an NGO with more than 30 years experience in urban governance, housing and community organising.
Homeowner sentiment Index
South Africa - Absa
Further drop in property market sentiment in the second quarter of 2018
After declining in the first quarter of 2018 from late last year, the level of positive sentiment regarding conditions in the South African residential property market dropped somewhat further in the second quarter of the year.
Homeowner Sentiment Index (HSI) results
The overall national HSI score, which reflects the percentage of survey respondents with positive sentiment regarding residential property market conditions in the country, declined to 73% in the second quarter of 2018 from 75% in the first quarter and 82% in the fourth quarter of 2017. The main positive and negative factors mentioned by survey respondents were as follows in the second quarter of the year (percentage of respondents in brackets):
- Positive factors: Property is a secure asset (36%) and still increases in value (22%).
- Negative factors: The land reform issue causes uncertainty regarding property as an investment (25%), with some political uncertainty still prevailing (25%).