Property 24/10 - 293

Foreign investors show appetite for Gauteng property
Investors from other African countries continue to show a strong appetite for residential property in South Africa, particularly in the Gauteng province. They are from across the continent, with most frequent investors originating from Nigeria, Angola, Ghana, Uganda, Gabon, Kenya, Zimbabwe, Congo and Mozambique according to Pam Golding Properties (PGP) chief executive, Dr Andrew Golding, who says foreign investment in residential property in South Africa continues to be encouraged by the perceived weakness in the currency, which ensures that foreign buyers, and buyers from the African continent in particular, are able to achieve excellent value for money in South Africa.

“From a Gauteng perspective, PGP continues to conclude transactions to foreign investors, particularly in the greater Johannesburg and Pretoria regions. African buyers in particular continue to show an appetite for local residential property and are making up an increasing proportion of the foreign buyers in South Africa.”

Architecture students compete for the top spot
Innovation, while incorporating ever-improving technology, is a standout quality that differentiates design resolutions and helps define architecture as special among one’s peers. Innovation, in sync with context, provides the delight factor permitting architectural design to compete comfortably on the world stage according to Dirk Meyer, managing director of Corobrik, ahead of the 29th Corobrik Architectural Student of the Year Awards, which are held annually to acknowledge and reward outstanding talent in South Africa.

Meyer says technical skill, technological understanding and the ability to create memorable form that draws one in, while treading softly on our planet, is what puts the finishing touches to sustainable architecture.

Be inspired by 30 days of home + food in Midrand
Don’t miss 30 Days of Home + Food taking place between 4 and 6 March at the Gallagher Convention Centre in Midrand.

Offering morning and afternoon sessions, the show has something for everyone, from home, food to do-it-yourself classes which will be hosted by some of South Africa’s favourite personalities. Expect to see celebrity faces like Anele Mdoda, Bobby van Jaarsveld, Marc Lottering, Suzelle DIY and more.

Mind the gap when selling and buying
The risk exposures for buyers and sellers in a property transaction are widely misunderstood.

This is according to Lee-Ann Dobrescu, Head of Group Business Development at Hollard, who says since property purchases are among the single largest financial commitments private individuals will undertake, the need for meaningful protection against such risks is essential.

She says the core of the issue lies in defects. Not only is there a debate about the difference between latent and patent defects, but the results of faulty or defective design, structure or workmanship sometimes only become evident over time.

Dobrescu says the primary misconceptions about defects are:

Property is your best bet for growing wealth
When it comes to a long-term investment, there are few asset classes that have the same benefits as property, especially when it comes to building a foundation on which to grow personal wealth according to regional director and CEO of RE/MAX of Southern Africa, Adrian Goslett, who says many astute property buyers who have followed the key principles of property investment have been able to reap the rewards of their actions and see good returns on their investment.

Goslett says even with the correction in the market experienced post 2007, those who got into the market at the right time and made the correct decisions at the beginning of the process, would have seen substantial growth in their investment value.

He says the key to unlocking investment potential is knowledge.

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