Property 24/10 - 371

4000 families to benefit from Cape Town housing project
About 4 000 lower-income households in Cape Town are expected to benefit from affordable housing developments on well-located City-owned land.

“Building inclusive communities through reversing the spatial legacy of apartheid is a key priority of this government,” the City’s Mayoral Committee Member on Transport and Urban Development, Councillor Brett Herron, said on Wednesday.

Councillor Herron said the city will this month commence with the development of affordable housing opportunities at scale on well-located City-owned land.

“The importance of this occasion cannot be overstated. Developing prime land for lower-income residents in Cape Town is a momentous occasion.

Tax implications of selling your primary residence
The decision to sell your home is a big one, and generally involves both emotional and financial factors.

Often it coincides with a change in circumstances – such as a new job requiring relocation, a baby on the way, or perhaps children leaving the nest. The reasons for selling your home are many and varied - nonetheless it is important to consider the tax implications so you are prepared for any potential liability that may arise.

Jeremy Burman of Private Client Holdings says tax on capital gains was introduced with effect from 1 October 2001 and applies, subject to certain exclusions, to gains made on the disposal of capital assets from this date.

Pam Golding Properties’ new bespoke blog for ‘lifestyle connoisseurs’
Pam Golding Properties announced the launch of its new bespoke blog called ‘The Know’, with exclusive content for property buyers and sellers at any stage of their journey.

Housing Pam Golding Properties’ thought leadership, the editorial-style blog will focus on luxury lifestyle, data-driven insights about the property market, leading design trends as well as the latest company news.

Mimi Nicklin, head of marketing at Pam Golding Properties, says the launch of ‘The Know’ is an incredibly exciting new chapter for the Pam Golding Properties brand. She says not only is it a leading platform in the industry here in South Africa but they hope it compares with best in class real estate content worldwide.

Why agents need to understand the world of investment
Globally, intensive estate agent training has become essential in getting the most out of agents and ultimately the best deal for buyers and sellers. One of the most important aspects of this training is the financial component, given that they are advising others on the biggest financial decision and largest transaction of their lives.

As a result, South African agencies are taking requests to professionalise their agents very seriously.

CEO of the UK’s Guild Property Professionals Association (The Guild), Marcus Whewell says in the next five years, individuals need to be better informed and qualified, meaning agencies should prioritise training and development.

Using low-cost vs traditional agencies to sell property
Online real estate companies offering to sell your home for a low fixed price or a discounted commission appear to be multiplying daily – but they are actually just peddling old – and unsuccessful - concepts dressed up in new digital clothes according to Berry Everitt, CEO of the Chas Everitt International property group, who says discount and flat-fee agencies have been around for decades.

“We see them coming to the fore every time the real estate market goes through a slowdown as they try to convince desperate homeowners that their properties will sell better or faster if they can cut a chunk of commission off their asking price,” says Everitt.

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