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Political factors are drivers  Property prices expected to be buoyant if clear election victory for ANC draws foreign investment.
Holiday fever drops  Despite billions in revenue, there was a decline in certain accommodation sales during the bumper season.
Off-plan buying: Banks back development  Financial institutions want debts repaid, so lower risks mean fewer chances of defaulting.
Why city slickers are now opting for countryside living  More people are leaving the hustle and bustle of cities for the peace and pleasures provided far out of town.

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Experts have mixed reactions to #Budget2019

Government’s nod to private property ownership is a big plus and leaves industry players satisfied.

Housing development, subsidies and informal settlement upgrades were among the key ingredients in this week’s Budget, which has left real estate players more than satisfied with the government’s recipe for economic – and property market – recovery.

Of course there was no specific relief for property buyers in the form of a transfer duty reduction or an increase in the threshold, but Berry Everitt, chief executive of the Chas Everitt International, “applauds” the Budget’s assurance that the country’s taxpayers do not have to pay off Eskom’s entire R400 billion debt.

Acknowledgement of the need to “fix” Sars to ensure efficient revenue collection and shed the massive public sector wage bill were also welcomed announcements.

“Such issues may not seem relevant to real estate, but they are very much so in the sense that the real estate market can only thrive in a climate of growing confidence among investors, rising economic growth and increasing employment,” said Everitt.

The Budget was “measured” and “in the best interest of the country right now”, acknowledges Samuel Seeff, chairperson of the Seeff Property Group, but he is disappointed there is no relief for the property sector or consumers.

Read more: Experts have mixed reactions to #Budget2019

 
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Business

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The sugar tax may be aimed at reducing consumption, but it ate its way into Clover's profits, the group said on Tuesday.The health promotion levy contributed approximately R42.3m (1.6%) to the increase in cost of sales, the food and beverages group said, announcing...

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Some of the owners of Mr Tekkie heard on Monday that their application for leave to appeal in a restraint of trade case brought against them by Steinhoff subsidiary Pepkor, was granted.The current owners of Mr Tekkie - of which 16 branches have already been opened...

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Politics

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A Deloitte investigation has revealed that Bosasa did not pay R100 000 into a crowdfunding campaign for the SABC 8, according to the South African National Editors' Forum (Sanef).Sanef approached Deloitte to perform a forensic review after TimesLive published...

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"Preposterous and nothing short of a product of an over-active imagination" were the words the ANC used to respond to the EFF's claims that it established an "underground unit" to vandalise and remove its billboards."The ANC has championed the rule of law since...

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Sports

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London - World Rugby CEO Brett Gosper hopes the 2019 World Cup in Japan will be a game-changer for the sport globally but also believes it can help transform lives across Asia.Marking 200 days to go until the tournament kicks off, World Rugby and ChildFund,...

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Cape Town - Proteas skipper Faf du Plessis couldn't hide his disappointment with the news that fast bowler Duanne Olivier had signed a Kolpak deal with Yorkshire.Olivier dropped the  Read More...

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