Property 24/10 - 417

Entrepreneurs: Now is the time to change lives and grow revenues
All signs point to Africa as the most extraordinary place to be and do business in the future. So, how are we going to do business?

This is the question posed by Musa Kalenga, the enthusiastic entrepreneur and strategist who was named one of the Top 200 young South Africans by Mail & Guardian, at a recent Entrepreneurship To The Point Session hosted by Property Point, the Growthpoint Properties initiative.

The answer to doing business that he offers entrepreneurs, even in this digital age, is humanity.

Johannesburg reviewing economically viable solutions for inclusionary housing
Recently a public hearing between developers, property practitioners and representatives of the City of Johannesburg Metro Centre was held to discuss the way forward for inclusionary housing.

The hearing was attended by Councillor Reuben Masango, MMC Development Planning, Thandeka Mlaza-Lloyd, Assistant Director, City Transformation and Spatial Planning, Dylan Weakley, Senior Urban Specialist: City Transformation and Spatial Planning, Eric Raboshakga, Director: City Transformation and Spatial Planning and Amolemo Mothoagae, Executive Director: City Transformation and Spatial Planning.

This meeting resulted in an incredibly positive outcome, according to Chris Renecle, MD of Renprop, who says the "city really listened to the objections the property industry raised to the initial inclusionary housing proposal and took cognisance of the concerns to find a workable solution going forward”.

What the 72-hour clause means in property sales
The use of the 72-hour clause has recently become more common in the South African residential property market because middle-class consumer buying power is being reduced and property buyers are more often failing to meet all their buying conditions.

This is according to Rowan Alexander, Director of Alexander Swart Property, who says when applying for bonds, people are increasingly found to have credit lapses or court judgements against them, and in nine cases out of ten these nullify their chances of getting the loan they need.

“The 72-hour clause is designed to accelerate the progress of a house sale. If the first offer accepted comes with suspension conditions (e.g. the obtaining of a bond or the selling of the buyer’s existing home) which have to be met before the sale of the property can go through, it may take days or even weeks for the condition to be fulfilled,” says Alexander.

When did you last check your credit record? And why you should
With the cost of cybercrime worldwide expected to hit $2 trillion by 2019, according to Juniper Research, MultiNET Home Loans, one of South Africa’s top three mortgage originators, is warning consumers to tighten control on their credit scores.

Don't become a victim of identity theft
According to Shaun Rademeyer, who took over as CEO of MultiNET earlier this year, credit score fraud is directly linked to identity theft. And identity theft is at the core of South Africa’s “alarmingly high” level of cyber fraud.

PwC South Africa’s 2018 Global Economic Crime and Fraud Survey puts the country’s reported economic crime rate at 77%, which is significantly higher than the world average of 49%. Add unreported or undetected incidents to the mix, which the World Economic Forum (WEF) believes accounts for a “significant portion of cybercrime, and the number is likely to rocket, says Rademeyer.

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