Web Bytes

Web Bytes 137

Big estate agents have edge on rivals
Business Day - South Africa
Now that the residential property boom is over, conditions are tightening and smaller operators are battling.

Large real estate groups with established brand names are gaining market share from the smaller estate agencies in a tighter residential market.

With the heady days of the property boom over, it appears that sellers are seeking out the established estate agencies with solid infrastructures, marketing strategies and countrywide representation.

The large companies say it was relatively easy for the smaller players to sell properties during the boom when house price growth peaked at more than 35% year-on-year near the end of 2004.

Now, with the market tightening with average year-on-year growth in the region of 14%-15%, smaller operators are finding it a lot tougher.
Business Day

Property valuations complaint, owners pay up
Iol.co.za - South Africa
The deadline for objections to the City of Cape Town's property valuations may have passed on Monday, but property owners may continue to lodge complaints - for a fee.

Chris Gavor, the city's director of valuations, said on Tuesday that there was "still a process" whereby property owners could complain to the city. They could ask for a revaluation of their properties.

Since 21 February, 33,000 objections have been received. The city carried out 735,000 valuations.

Gavor said the figure excluded the 70,000 objections by sectional title owners that had to be submitted by the council after a computer glitch led to double billing.

The source of water rights
Cliffedekker.co.za - South Africa
The Lower Blyde River Pipeline Network is used to convey water to farmers in the Blyde River area. FirstRand Limited owns and controls the pipeline and in 2004 entered into an agreement with local farmers for the supply of water. As a result of an inability to reach agreement on the fee payable for the following year, FirstRand terminated the agreement with a number of the farmers. It then cut off the water supply leading to the farmers' properties. The farmers, relying on a common law remedy known as the mandement van spolie, averred that FirstRand's actions constituted spoliation of their rights.

The mandement van spolie is a remedy available to a person who has been forcibly or wrongfully dispossessed of property against his consent.

Five property investment rules
You can still make "serious money" in residential property.
Moneyweb.co.za - South Africa
If you know what you looking for, you can still make "serious money" in residential property, say property experts.

"There is no more money for nothing and investors will have to relearn the traditional investment rules," said Andrew Schaefer, MD of property management company, Trafalgar.

Reasonably priced properties (that are good value for money) are becoming more difficult to find and require a lot of legwork, adds Anton de Leeuw, CEO of YDL property educationalists.

Leave a comment:

Security Picture (click to change)
Word shown in picture:
menu close

Search Articles