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| Property Market Must Get Greener |
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According to property economist and university lecturer Francois Viruly, South Africa's architects, developers, construction companies and curricula are not handling green issues
"The real estate industry curricula tell their students to close the tap at best," he says. "The finance courses don't go into the financial implications of good practice. So the question that has to be addressed is how do we bring 'green' issues into our curricula and general consciousness."
This news does not bode well in view of what Huston Eubank, a registered architect specialising in the sustainable design of buildings, communities and businesses, and who served as executive director of the World Green Building Council from 2005 to 2007, has to say on the green movement, and in particular green buildings. His focus is on buildings because they contribute to approximately 20% of global carbon dioxide emissions.
| World Green Building Council, 03-05-2008 |
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| The House Party is Officially over for Now |
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There is much debate currently among property experts, with one camp predicting a continuing downward spiral for the foreseeable future, while the other maintains the current scenario is a bump on a road that will soon head skywards once again
The residential property boom of the early years of the decade – now already being looked back on with a measure of nostalgia – was a once-in-20-years experience. “We must remember that it came off a very low base to begin with, and coincided with the longest business-cycle upswing (which started in 1999) that the country has ever experienced,” says Rode. Healthy economic growth, combined with the lowest interest rates South Africans had seen for more than two decades further spurred on the market into a state of euphoria. “Euphoric expectations of growth are often self-fulfilling, and all these factors together resulted in sustained – but unsustainable – growth for a number of years that far exceeded the growth in income and replacement costs. Inevitably, this led to houses becoming increasingly unaffordable.”
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| Eco Innovators Honoured in Green Awards |
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Ecological integrity and planet-saving ambitions are among the traits of individuals and companies that have been honoured in the inaugural ‘Real Simple’ Green Innovation Awards
Established by Real Simple, a women’s consumer magazine, the Awards are aimed at creating awareness of ‘green’ products for the benefit of consumers, says the magazines’ editor Kerryn Fischer.
“Our research has consistently revealed that our readers want to live ‘greener’ lives but were unsure how to do so. So we set about equipping them with the information they need to do this by instituting a monthly green section in the magazine and initiating the Green Innovation Awards whereby we celebrate those products, individuals and companies committed to green ethics and principles,” she says.
| Real Simple Green Innovation Awards, 03-04-2008 |
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| Outages May Boost Green Building |
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Sweeping power outages across major cities have affected the commercial and industrial property development sector negatively, with many pointing to infrastructure constraints and a negative impact on business confidence as boding ill for the industry in the long-term
But it’s not all doom and gloom, believes SAPOA president Marna van der Walt.
“In a market that is correcting itself, there are always opportunities and it is how we plan to go forward – to face those challenges – that will make the difference,” she says.
Van der Walt, who is also CEO of property group JHI, reckons that the power outages might just provide the push needed for SA businesses to accelerate their green initiatives and catalyze more effective energy management to SA.
After all, she says, energy management is certainly not a trend that is unique to South Africa, but a very real part of the drive towards green building world-wide.
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| South Africa Bans All Use of Asbestos |
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Environmental Affairs and Tourism Minister Marthinus van Schalkwyk has announced that the use, manufacture and processing of asbestos will be prohibited in South Africa with immediate effect
The Regulations for the Prohibition of the Use, Manufacturing, Import and Export of Asbestos and Asbestos Containing Materials, which form part of the Environment Conservation Act of 1989, will be promulgated on 28 March and will take effect immediately, Van Schalkwyk said at a media briefing on Thursday.
"A grace period of 120 days will be allowed for any person or merchant who is currently dealing in asbestos or asbestos containing materials to clear their stocks," he said.
The main objectives of the new regulations is to prohibit the use, processing or manufacturing, of any asbestos or asbestos-containing product unless it can be proven that no suitable alternative exists.
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| Building Activity Shows Decline, Stats South Africa Shows |
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The figures show that while total building plans passed increased in January, the residential sector is still under pressure and will remain so during 2008 due to high interest rates
They also show that planning for future projects was beginning to decline in general because of economic factors even before the cutback in projects being caused by the Eskom crisis is factored into the equation.
Stats SA says growth in total building plans passed increased in January by 18,6% year-on-year (y/y) to record the highest growth since March 2006 of 21% y/y following two consecutive declines in both November and December of -18,7% y/y and -13,3% y/y respectively.
The recovery in growth in total building plans passed in January was led by an increase in two categories.
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| Plettenberg Sales Down, Average Prices Up |
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Recently-released figures for property sales in Plettenberg Bay during 2007 reflect a year-on-year increase of more than 20% in average prices against the background of a significant decrease in the number of properties sold and the total value of properties sold during the year
Steve Neufeld of Lew Geffen Sotheby's International Realty Plettenberg Bay notes that, in terms of figures available as at 5 March 2008, the number of property sales decreased by a staggering 38%. As a consequence, the total value of sales in Plettenberg Bay in 2007 declined to R602m from R778m in the previous year.
"There are still a lot of sales from 2007 that are in the registration process, so the figures will not be as dramatic once these are registered, but all indications are that 2007 will be substantially down on 2006, which in turn was down on the previous four years. The decline can be attributed to decreasing affordability and uncertainty in the marketplace and economy in general," he says.
Despite the decline in total sales, the average price for freehold property (including vacant plots and houses) increased to R1,99m and R1,38m for sectional title units.
| Sotheby’s International Realty, 25-03-2008 |
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| Call for Green Property Incentives |
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The real estate industry has joined the call for comprehensive Government incentives for energy efficient retrofits of residential properties
CEO of ERA South Africa property group Gerhard Kotzé says the first laudable steps in this direction have been taken with reports that Government is planning subsidies for solar powered geysers and the news that Eskom is planning a door-to-door giveaway campaign of energy efficient light bulbs to replace less efficient incandescent light bulbs.
“However what’s needed is a more widely embracing package with everything from hybrid geysers (a mix of electrical and solar) to stand-by batteries and generators, use of natural lighting, solar walls to provide solar heating throughout the home, roof insulation, heat recovery ventilation and other energy saving measures.
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| Projects Abound in St Francis Bay |
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The wellspring of new development taking place in the coastal town of St Francis Bay is unlikely to slow in the foreseeable future - provided developers keep their pricing market-related
According to Les Olivier the entire Kromme River/St Francis Bay market is booming, regardless of the country's upwardly mobile interest rate. Commenting on the back of the unprecedented pace of new leisure and residential development in the residential marina, Olivier says its appeal lies not only in its standardised thatched architecture but also its unique canal system that accesses the Kromme River and feeds into the Indian Ocean.
In addition, its surfing is world-renowned, it is just an hour's drive to the airport in Port Elizabeth and en route to Plettenberg Bay and Knysna.
| Independent Property Consultants, 18-03-2008 |
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| Residential Property Impressive by World Standards |
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South Africa property among world’s best performing Global House Price Index
South African estate agents may be feeling the pain of tougher market conditions, but from an international perspective returns from the residential asset class look “impressive” on the surface.
That’s the message contained in a report produced by Knight Frank to accompany its Knight Frank Global House Price Index for 2007.
The index, which is an average snapshot of international residential property performance, fell in the final quarter on a year-on-year basis, but for the year price inflation was just over 8%.
| Knight Frank Global House Price Index, 18-03-2008 |
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