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SAPOA seeks urgent meeting with NHBRC over new code
RodneyHayter.com - South Africa
The South African Property Owners Association (SAPOA) has requested an urgent meeting with the National Home Builders Registration Council (NHBRC) to discuss the recently implemented code of conduct.

SAPOA, according to a June 25 media release by the association, was not consulted during the process of promulgating the code of conduct, which it says "has serious implications for property developers and the property industry as a whole."

Xingwana promises tougher approach to land restitution
Business Report - South Africa
The government plans to adopt tougher measures in its land restitution programme, according to indications by land affairs minister Lulu Xingwana.

This week, Xingwana said the state had to take back some of the land that belonged to the privileged and transfer it to the dispossessed.

She was responding to Democratic Alliance MP Maas Nel, who asked whether a national land audit had taken place.

She said her department's holding of land was only 5 percent of the state assets - not nearly enough to meet the needs and requirements of most of the population.
Business Report

Developers of luxury flats blow up coastline
Sunday Times - South Africa
City of Cape Town files legal action and demands site be rehabilitated.

The developers of an exclusive apartment block along Cape Town's Atlantic Seaboard have illegally blasted and excavated a strip of coastline to create better views for wealthy residents.

Unless further excavation is done, owners of ground-floor flats at The Bantry, which achieved prices of more than R25-million per unit, will have their sea views obstructed by large granite boulders.

Greater Flamingo Investments last year prematurely started removing land - above the high water mark - which belongs to the City of Cape Town. Charles Cooper, spokesman for the City of Cape Town, said the developer had submitted an application to the Department of Environmental Affairs and Development Planning to continue excavating so that ground-floor apartments can have a full view of the ocean.
Sunday Times

Sale of land to foreigners worries NZ
The Age - Australia
The New Zealand First party says restrictions on land sales to foreigners have not worked and the amount of land going into overseas hands has actually increased.

In June 2005, parliament passed the Overseas Investment Act to toughen up the regime around foreigners buying lands with special cultural or environmental value. But NZ First leader Winston Peters said New Zealanders were rightly concerned that they were losing control of their country.
The Age

Easier2move says on-line conveyancing can save 15 days
Mortgage strategy - UK
Easier2move has estimated that on-line conveyancing can save up to 15 days in the home buying process.

It says solicitors usually send a minimum of six documents to their client via the post during the conveyancing process and three of these need to be signed and returned by the client.
Sending these documents from the solicitor to the client and vice versa can take between eight and nine days.
Mortgage Strategy

Non-performing mortgages on the rise
Business Report - South Africa
While the residential property market is still ticking over steadily, the value of non-performing mortgage loans rose sharply in the first four months of the year.

Figures released yesterday by the banking supervision department show an increase from R6.1 billion in December 2005 and R6.9 billion a year later to R8.4 billion by the end of April.

As a ratio of total mortgage books, the figure is still small, 1.14 percent from 1.08 percent in December. Standard Bank economist Elna Moolman said that in 2001 it was over 6 percent. The ratio retreated as house prices started rising across the board.
Business Report

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