Big property developments expected to fire up Cape Town
South Africa - SACommercialPropNews
A number of new modern commercial and luxury residential developments, including hotels, are on track to come out of Cape Town’s soil, setting existing establishments in the area aflutter with dreams of tourist gold.
Despite a tight economy, Cape Town has seen a new wave of property developments worth billions in the past year.
But some property analysts have raised concerns about the commercial property vacancy rate, saying the sector has been struggling to regain its former “boom time glory” of more than a decade ago.
However, in this period of crisis, some property businesses opted to streamline and restructure, rather than follow construction giants such as Group Five into business rescue. By adjusting their business models, ensuring market agility and in some cases reinventing themselves, forward-thinking property developers were able to profitably and sustainably weather the storm.
SACommercialPropNews
Notice: Legal Practitioners Fidelity Fund Certificate
South Africa - LSSA
The Law Society of South Africa has noted that some legal practitioners were unable to successfully apply for their Fidelity Fund Certificate (FFC) by 31 December 2019. The Legal Practice Council (LPC) has advised that the online portal is still open and legal practitioners are encouraged to urgently apply.
Members are reminded that in terms of the rules, they cannot practice without an FFC. They cannot charge and/or collect fees.
Click here to access the LPC online portal for FFC applications.
If you are having trouble with the portal, please contact your provincial office of the LPC for assistance. The contact details for your provincial office are available at www.lpc.org.za.
Nomfundo Jele, Acting Communications Manager, Law Society of South Africa, nomfundom@lssa.org.za
PropTech Today: What can 80 conveyancers teach PropTech?
UK - EstateAgentToday
“It appears conveyancers either aren’t too concerned with PropTech right now, or they don’t yet have all the information needed to make firmer decisions around what it means to their firm."
So states the head of sales at OneSearch, Lidia Quinlan, towards the end of what appears to be a somewhat biased piece of research, based on survey responses from 80 different conveyancers.
Before I comment on that particular statement, let me reflect on the findings of the report as I think they tell a particular narrative that we could all gain from understanding…
EstateAgentToday
#LoadShedding: Tips to get off the grid
South Africa - Property360
Rising power prices and water shortages are forcing many South African homeowners to look at green solutions
Increasing tariffs and the threat of load shedding and water scarcity paint a bleak picture for homeowners who are reliant on the South African grid. The upside, however, is that these issues are forcing many to go green, downsize or seek self-sustainable homes with energy-saving alternatives and greener living solutions.
Eskom’s proposed 15% increase over three years for consumers has, for instance, seen a growing number of homeowners seriously considering ways to get off the electricity grid. This puts the electricity supplier at risk of losing customers. Currently, however, the cost of investing in a solar and green solution remains high and “probably unaffordable for most South Africans”, says Herschel Jawitz, chief executive Jawitz Properties.
“The irony is that South Africa has an ideal climate for solar energy with hot summers and mild winters. “In reality, more and more people will most likely find ways to use less electricity, which will impact on Eskom’s revenue and ability to invest in supplying cheaper electricity. The real issue is competition. South Africa needs more than one supplier.
Property360
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