Showing posts from December, 2013

Plett Harbour development proposal divides property owners

Plett Harbour development proposal divides property owners The row over the controversial R4 billion planned small boat harbour at Plettenberg Bay is hotting up after three-dimensional graphic renderings of the development started circulating through the region. Plettenberg Bay beachfront as it currently appears. This comes just weeks after the final scoping report for the 87 000 sqm development by Western Cape Marina Investments was released and highlighted major environmental and economic concerns. The project will stretch from the Piesang River estuary and along the town's popular central beach.

Durban wants mall developer jailed

Durban wants mall developer jailed The eThekwini Municipality wants Ravi Jagadasan, whose company was building the Tongaat mall that collapsed, killing two people, to be jailed for contempt of court. Alternatively the city is asking that Jagadasan, the son of businessman Jay Singh, pay a fine. It has also asked the Durban High Court to impose a fine on Jagadasan's company, Rectangle Property Investments. The contempt of court application was filed last week and has been set down for February.

Property price growth up, but below peak

Property price growth up, but below peak House prices, adjusted to take into account the impact of inflation, have declined cumulatively by 20.1 percent since the real house price peak at the end of 2007 but are still 29.3 percent higher than in November 2003, according to FNB. In nominal terms, house prices have grown by 14.7 percent since the end of 2007 and by 129.3 percent since November 2003. The outlook for the residential property market for next year is for a continuation of low house price growth. The latest FNB house price index revealed that nominal house prices increased by 7.2 percent year on year last month compared with the revised 7.1 percent in October.

Tshwane cracks whip on firms digging up roads

Tshwane cracks whip on firms digging up roads Electronic communication companies and service providers that have become accustomed to free-for-all digging up and laying of cables in the public road reserve in Pretoria will find the going harder in the near future. Roads are dug up in Mamelodi. Companies laying electronic cables next to roads, disrupting traffic. The City of Tshwane has approved laws and regulations, more than a decade in the making, to control and co-ordinate the increasing volume and complexity of services in the road reserve.

Joburg call centre under fire

Joburg call centre under fire Only 4 percent of calls to the City of Joburg's call centre for water and electricity problems are answered within one and two minutes.

Pretoria getting largest statue of Mandela

Pretoria getting largest statue of Mandela It is 9m tall, weighs four tons and is said to be the largest statue of Nelson Mandela. The bronze-coated artwork spent hours on the road travelling from Cape Town this week and arrived yesterday at the Union Buildings in Pretoria, where it is to be assembled and unveiled on Monday. 'This is the largest Mandela statue in the world and we believe it is the best,' said Sarah Haines of Koketso Growth, which managed the project.

'Higher incomes needed now to qualify for bonds'

'Higher incomes needed now to qualify for bonds' According to the latest statistics from BetterBond Home Loans, home buyers in SA now need to earn a gross monthly income of around R30 000 to buy an average home costing some R952 000. The BetterBond figures also show that 64 percent of buyers currently have to pay a deposit in order to secure a home loan, and that the average deposit required for a home priced at R952 000 is around R99 000 - or 10,4 percent 'This puts the average home loan required to buy such a home at R853 000, and the average monthly bond repayment at just over R7400,' says BetterBond CEO Shaun Rademeyer.'Now in the days before the National Credit Act, when the simple rule-of-thumb was that your monthly bond repayment should not exceed 30% of your gross salary, that would have meant that a gross salary of R24 700 was enough.

EAAB warns against 'false courses'

EAAB warns against 'false courses' Annette Evans, regional manager for the Institute of Estate Agents, Western Cape, wishes to draw attention to a recent announcement by the Estate Agency Affairs Board regarding the Continuous Professional Development courses offered. Various property courses are currently being presented by a number of educational bodies and are being presented as being CPD accredited, she said. What many are saying is that CPD points will be accrued in accordance with the EAAB's recommended cycle.

Historic inner Joburg suburbs set for densification

Please see the Article from the Star Newspaper below. I was priviledged to be invited to a SAPOA dinner with Mayor Parks Tau as part of the representation of the Property Industry where the Corridors of Freedom were presented. The attendees at the Dinner received information packs from the City of Joburg containing detailed information on the Corridors of Freedom.  You are welcome to contact me at if you would like more information. I have also posted on the Blog on a number of occassions that I believe that desification of South African cities is the ONLY viable way of dealing with infrastructure issues (especially transport). Gareth Shepperson Historic inner Joburg suburbs set for densification Joburg's Empire/Perth road corridor is set for major densification as it becomes the second area identified as a 'corridor of freedom' by the city. This has brought many objections from residents who claim they have not been con

Durban North property owners worried by golf course plan

Durban North property owners worried by golf course plan Worried Durban North homeowners have accused Durban Country Club trustees of using 'smoke-and-mirrors tactics' and failing to explain the full impact of a proposed housing development at the Beachwood Golf Course in the upmarket coastal suburb. Last week, homeowners from Fairways - which flanks the seaside course - met to hear what progress had been made to clear up their concerns over a multimillion-rand housing plan mooted by the Durban Country Club earlier this year.

Objections flood in over Pretoria mining plan

I doubt whether these objections will stop mining if the prospecting proves to be successful because I have not seen any objections that would outweigh the benefits of opening a new mine. Gareth Shepperson Objections flood in over Pretoria mining plan Objections have continued to pour in as preparations gained momentum for commencement of mining activities in Doornpoort, just north of the N4. The Pretoria News reported this week that the Department of Mineral Resources had awarded a fiveyear prospecting right on a property in Doornpoort, 10km north of the CBD, to Gemsbok Platinum (Pty) Ltd, a subsidiary of JSE-listed Sable Platinum (Pty) Ltd.

'Stalking' new trend in property market

CAN SOMEONE PLEASE EXPLAIN THIS TO ME??? What is Bill Rawson actually saying?  How is it that when a buyer/investor does a bit of homework and monitors property prices in a given area that it amounts to 'stalking'? Surely it is only savvy business practice to monitor the market before ploughing your hard-earned funds into an investment as large as property? Only fools rush in blindly ... don't they? Also, in my experience, Sellers don't usually thumb-suck a selling price and are almost always guided by someone with knowledge of the market (i.e. their Agent) when determining a selling price.  It is then in the Agent's own interest (as well as their client's interest) to seek the highest price possible. Economics 101 ... isn't it? I really don't understand what Bill Rawson is advocating in this article. Gareth Shepperson 'Stalking' new trend in property market A new trend is now making itself felt in the South African residential

Housing invaders take over Singh's Durban flats

Housing invaders take over Singh's Durban flats A Newlands West housing development has been invaded by hundreds of informal settlement residents taking over the 96 incomplete flats being built by Jay Singh. Hundreds of squatters invaded this Newlands West development on Tuesday.


Nelson Mandela (1918 - 2013)

R100m and more for Cape Town's trophy homes

The super-rich pay top prices on the Atlantic Seaboard. Home theatres, gyms, wraparound views, infinity pools, floating gardens and massage areas feature in some of Cape Town’s trophy homes, perched on the edge of the Atlantic Seaboard.  An apartment sold to a Nigerian buyer for R28m two months ago. The apartment measures approx 300 square metres and is located on Moses Beach, Clifton Included in this coterie of exclusive homes are those in South Africa’s wealthiest street: Nettleton Road in Clifton, where two properties are currently on the market for over R100 million each (both on Seeff’s books). The foreign seller of one of them has attached a $15 million price tag for the property, which includes a home theatre, an entertainment area, a gym, wraparound views of the 12 Apostles and the Atlantic Ocean, en suites, staff rooms and a bar. Leading agents say the strip of around twenty homes on the road are guaranteed prices upwards of R30-R50 million. A plot in the street

Platinum mines proposed for the outskirts of Pretoria

Platinum mines proposed for the outskirts of Pretoria Pretoria could see platinum mines on the outskirts of Doornpoort, about 10km north of the city. However, some city residents and other affected parties are not in favour of the project.   The area where the platinum mine is proposed.   The Department of Mineral Resources has awarded a five-year prospecting right on a 2 779.64ha piece of land just north of the N4 to Gemsbok Platinum (Pty) Ltd, a subsidiary of JSE-listed Sable Platinum (Pty) Ltd.

Umhlanga land sale to 'accelerate pace of property development in Durban'

Umhlanga land sale to 'accelerate pace of property development in Durban' In an unprecedented move, JSE-listed sugar and property giant Tongaat Hulett is to put a 42hectare section of prime land in its booming uMhlanga Ridgeside precinct up for sale in a single transaction early next year. An aerial view of the R12-billion Ridgeside precinct being developed by Tongaat Hulett in uMhlanga. The company said that the uMhlanga Ridge node had attracted more than R50 billion in investment since the start of land conversion from sugar cane to property development 17 years ago. At present 164 000m2, with an investment value of more than R3.6bn, was under construction.

Building confidence remains static

Building confidence remains static Confidence in the building industry remained at its highest level since 2008 in the fourth quarter with no change from the previous quarter. The First National Bank (FNB)/Bureau for Economic Research (BER) building confidence index released yesterday revealed that confidence in the industry remained at 48 points on a 100-point scale in the fourth quarter after rising by 7 points in the third quarter.

'Expect more building failures as South Africans flout regulations'

'Expect more building failures as South Africans flout regulations' A leading building inspector has warned that fatal building failures in South Africa like the collapse of a new Tongaat shopping mall will proliferate due to a lack of adequate policing of building standards and of building materials. John Graham, CEO of property inspection company HouseCheck says the Tongaat building collapse was likely caused by a combination of ineptitude including:

Clifton plot on the market for R70m :

Clifton plot on the market for R70m : A tract of land of around 2 500m2 is for sale in Clifton, priced at R70 million (R28 000/m2), including VAT. A view of the site (outlined with a dotted line). Land is at an absolute premium in the suburb, says Seeff's luxury market specialist, Lance Cohen. 'There is almost no land available in Clifton, Bantry Bay, Fresnaye and Camps Bay - and, certainly nothing of this size or location in Clifton,' he says.

'Banks should give better mortgage deals to long-standing clients'

'Banks should give better mortgage deals to long-standing clients' Loyal clients should be rewarded with better mortgage deals and interest rates says Bill Rawson of the Rawson Property Group.

Tongaat Mall order 'a day late'

Tongaat Mall order 'a day late' Controversial Durban businessman, Jay Singh, said he received a High Court order to stop work on the Tongaat Mall the day after its collapse. Jay Singh in his Phoenix Industrial Park office, knee-deep in plans for the Tongaat Mall. He also denied in an interview that the eThekwini Metro had sent him letters to halt construction. eThekwini officials had said they wrote to him four months before the cave-in, which killed two and injured many more.

Denny Crane

Denny Crane
It's not me ... yet. Denny Crane from the TV series Boston Legal. Click on picture if you're not sure who he is!