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"Now is the time to buy" says Bill Rawson
RodneyHayter.com - South Africa
The last few months have clearly shown that South Africa is not protected from or immune to the global financial problems and this has implications for the property market.

Much has been said about how we are not too badly affected by the sub-prime crisis and while this is true it is also true that the South African share market has lost half its value, GDP is dropping by 1%, the motor industry is having to cut back severely and, with a depressed economy and lower tax returns, next year the government may have to cut back on its infrastructural and other spending. A full scale recovery is, therefore, unlikely before 2010.

Where, therefore, can an investor now place his funds (if he still has funds) with a reasonable expectation of a return?

Selling up must come at a price
Timesonline - UK
With home reports about to radically alter Scotland's housing market, we ask who should be more nervous - buyers or vendors

In eight days' time, anybody putting their home up for sale in Scotland must include, for any prospective buyers, a home report - which will cost the householder between £450 and £1,000. Officially the new legislation will help both sellers and buyers make informed decisions by providing all the relevant information about properties.

The mandatory report, about 40 pages long, will contain a detailed survey of sellers' homes, including a valuation, an energy-performance assessment and an access report.

Owner/tenant case in ConCourt
News24.com - South Africa
Johannesburg - The Constitutional Court heard a case that pits the rights of new owners of previously neglected inner-city buildings against tenants to be evicted after its sale, in its sitting on Wednesday.

The case centres on new building owner William Mailula's attempt to evict tenants from a building he paid R3.6m for.

His lawyer Rob Cohen told the court that he contends it was a bona fide sale through an estate agent, and he was surprised to later hear there were allegations of fraud relating to the sale.

Rising bad debts haunt FirstRand's mortgage book
Business Report - South Africa
Johannesburg - Bad debts in FirstRand's home loan business had increased significantly, a picture that was expected to get worse over the next six months, the group said yesterday.

Banks are exposed to increasing levels of bad debts on their mortgage books because of tough economic conditions brought about by high interest rates and a parallel drop in property values.

Analysts said that FirstRand's performance was similar to that of its competitors.
Business Report

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