budget speech 2021 and how it affects property market

Budget Speech’s Impact on the Property Market

Finance Minister, Tito Mboweni presented a “positive budget” under challenging circumstances, perhaps the most challenging over the last twenty-seven years, says Samuel Seeff, chairman of the Seeff Property Group.

property industry reacts to SONA 2021

Property Industry Weighs in on SONA 2021

“While it (pandemic) has caused significant damage through loss of life, just as drastic has been its effect on our economy and the rising levels of unemployment,” says John Jack, Galetti Corporate Real Estate CEO.

REBOSA takes legal action against EAAB

REBOSA takes legal action against EAAB

After years of attempted collaboration with the Estate Agency Affairs Board (EAAB) to rectify the Board’s ongoing service delivery issues, the Real Estate Business Owners of South Africa (REBOSA) has turned to court action against the regulator.

Missed Opportunity with Unchanged Repo Rate

The Monetary Policy Committee (MPC) has again announced that interest rates will remain stable, keeping the repo rate at 3.5% and the prime lending rate at 7%.

Biden’s Pick of US Secretary to Herald Even Higher Stock Markets

Biden’s pick of Janet Yellen as U.S. Treasury Secretary will help see stock markets reach record highs during 2021, predicts the CEO of one of the world’s largest independent financial advisory organizations.

93% of economists say SARB will hold the repo rate

The SARB Monetary Policy Committee is set to hold the repo rate at the 19-21 January meeting, according to 93% of economists.

Rand Suffers as Lockdown Fears Drive Sell-Off

The local unit weakened by 1.5% to reach levels last seen in early November (15.64/USD), before recovering slightly.

Unemployment Worries Will Keep the Lid on Home Prices This Year

The residential property market is expected to start losing some of its 2020 momentum soon, even though inflation is likely to remain depressed by a number of factors and the Reserve Bank is likely to keep interest rates low until at least 2022.

Reserve Fund Compliance Now Urgent for ST Schemes

Sectional Title schemes that are not yet compliant with the reserve fund provisions of the Community Schemes Ombud Services (CSOS) Act should rectify that position as soon as possible.

What the Steady Repo Rate Means for Buyers & Sellers

Repo Rate unchanged – reminding buyers to make the most of the lending rate

Interest Rate Disappoints

The decision by the South African Reserve Bank (SARB) to retain the repo rate at 3.5% (home loan base rate at 7%) is disappointing and out of step with the economy, says Samuel Seeff, chairman of the Seeff Property Group.

Economists Divided: Should the SARB Cut the Repo Rate?

57% of economists on Finder’s panel think the repo rate should hold and 43% are in favour of a rate cut.

SAIBPP | Open Letter to Ramaphosa Following Mooikloof Announcement 

SAIBPP, South African Institute of Black Property Practitioners, notes with concern the announcement made by President Cyril Ramaphosa on the launch of the Mooikloof MegaCity Development. 

SA REIT Association Rolls Out Repositioning Strategy

The SA REIT Association, the representative umbrella body for South Africa’s listed property sector is rolling out a repositioning strategy and additional capacity to support South African REITs adjust for long-term sustainability.

Cape Town welcomes the launch of affordable housing development

Amdec announces the development of a R500 million affordable housing estate in Ottery, Cape Town. 

Rate Decision Welcomed as First-Property Buyer’s Market Booms

The decision by the South African Reserve Bank (SARB) to retain the repo rate at 3.5% (home loan base rate at 7%) is welcome news, especially for first-time property buyers.

Repo Rate Remains Unchanged At 3.5%

The repo rate remains unchanged, which means the prime lending rate stays at 7%. Industry experts differ on opinion concerning the latest announcement by the Monetary Policy Committee (MPC).

Repo Rate & Recovery of the Property Market

The property market is set for a solid year, even if the South African Reserve Bank (SARB) announces next week that the repo rate will remain unchanged.

Buyers Responding to Rate Cuts

The decision by the Reserve Bank to cut the repo rate by a further 25 basis points to 3.50%, is welcome relief for the property market and households.

Housing Project Handed Over To Beneficiaries

When homes are handed over to our most vulnerable residents, it empowers them as first-time property owners.

POPI’S Impact On Sectional Title

Protection of Personal Information Act (POPI Act) – now that it is here, the wisest course of action for trustees is to get up to speed.

Brenda Matyolo Joins PayProp Board in SA

“We are proud to have Brenda on board and excited to put her tremendous knowledge and experience of the South African market to work, to maintain and grow our market leadership.”

What Rate Cut Means For Real Estate

These are unprecedented and uncertain times and we need as much support from the Reserve Bank as possible to boost confidence to invest in the property market & economy as we emerge from the Lockdown.

New Property Sector Council Formed

A new representative council has been formed to provide a single voice for property practitioners to speak with authority on issues connected with the property industry.

Passing of Marc Wainer is a loss to the property sector

The legendary founder and pioneering property investor and developer Marc Wainer had retired from the company at the end of August 2019.

Rate Cut Applauded for Economy & Property Sector

This rate cut takes the interest rate to a new historic low. Together with the previous cut, this is vital for when the country comes out of the COVID-19 Lockdown & the recovery starts.

Room for Further Interest Rate Cut

“As the Deeds Office is currently closed, transactions underway can still be at least partially processed online, ready to be concluded once the lockdown is lifted.”

LOCKDOWN – Effects on Real Estate & the Economy

This lockdown will bring the economy to a standstill if businesses fail to get creative with their offerings & their operations in order to remain productive within this situation.

Rate Cut – Stimulus for Economy & Property

The decision by the MPC to cut the repo rate by 100 basis points is a welcome stimulus for the economy & property market. 

Selling & Buying Properties During Coronavirus

How do we to continue providing value-adding, secure and safe property services?

Community Living in the Time of COVID-19

Marina Constas, BBM LAW Following the declaration of a national state of disaster by President Cyril Ramaphosa to curb the spread of Covid-19 in South Africa, the trustees and directors of community schemes like townhouse complexes, retirement villages and residential estates must ensure that the measures implemented by the President are complied with, says specialist […]

Impact of Coronavirus on property market

By Carl Coetzee, BetterBond CEO  On Sunday night President Cyril Ramaphosa addressed the nation about coronavirus, declaring the outbreak of Covid-19 a national disaster in terms of the Disaster Management Act. He assured us that all necessary measures and systems will be mobilised to contain the spread of the virus and to limit the effect […]

The Future of land expropriation without compensation

Land reform is a prevalent concept in the documents of various political parties contending for governance in South Africa. Not only does mentioning this concept win parties some votes, but leads to panic for most of South African citizens. It massively frightens businesses, property owners, farmers etc. Comments about land reform in the country are […]