Posts

'Traditional buildings' get a green wash

Image
'Traditional buildings' get a green wash - Moneyweb Nearly eight years ago, green building was considered ‘the right thing to do’, but more developers and building owners now view it as an economic necessity. This is according to Nedbank’s executive head of property finance Rob Lockhart-Ross. “New buildings represent about 2% of South Africa’s building stock and existing buildings represent some 98% – clearly we have to work on existing buildings.”   New buildings are more likely to have energy efficient initiatives than existing buildings, which are mostly built to traditional standards. Brian Wilkinson, CEO of Green Building Council of South Africa (GBCSA), says a green building on average saves 25% in electricity and “if all the buildings did that [go green] we would not have an energy crisis”. Developers are starting to take stock of the benefits of going green, through retrofits such as energy efficient light fittings, investing in rain harvesting technology,

Steyn City takes form to be an ‘estate like no other’

Image
Steyn City takes form to be an ‘estate like no other’ - Moneyweb Douw Steyn’s private residence with the golf course in the foreground. Steyn City, the mega mixed-use development by insurance magnate Douw Steyn, is starting to take shape with the rise of residential units and promises of more expected to unfold. The first phase of the multi-billion rand, 2 000-acre development – nestled between Dainfern and Diepsloot – was launched to the media on Thursday. It features 93 apartments, 19 clusters with a further 45 clusters to be built off plan and to be introduced to the market from March 12. An artist impression of luxury apartments. On top of this, six homes have been completed and there are 220 freehold stands – allowing owners to build their own homes. The idea is to develop an “estate like no other” with a hospital and 50 000 square metres of commercial space in the pipeline. The commercial offering will follow the establishment of Auto & General’s head office

BUDGET SPEECH 2015

Image
Hi The most relevant part of Minister Nene's Budget Speech for those involved in the Property Industry was the amendment to Transfer Duty. The new rates will only apply to property acquired on or after 1 March 2015 by any person, including companies, close corporations and trusts.  In summary, the following was announced in the Budget: Rate of transfer duty                 Taxable Income (R) Rate of Tax (R) R0 - R750 000 0% of property value R750 001 - R1 250 000 3% of property value above R750 000 R1 250 001 - R1 750 000 R15 000 + 6% of property value above R1 250 000 R1 750 001 - R2 250 000 R45 000 + 8% of property value above R1 750 000 R2 250 001 R85 000 + 11% of property value above R2 250 000  Please don't hesitate to contact us if you require a detailed quote relating to the total costs involved in Property Transfers or if you want advice on how to mitigate

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!