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| Ins and Outs of Buying Off-Plan |
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Although the property market is still attempting to claw its way out of turbulent times, by all accounts we're on the road to recovery and that means new developments that suffered over the last two years are likely to begin re-emerging once again.
At this stage a second-hand property still represents better value for most buyers than a brand new home, but there's no denying the allure of building your own brand-new house. For most consumers, that will mean purchasing in a new development – and in many cases, buying off-plan.
Clearly there's a wide range of things to consider when making a purchasing decision in a new development, not the least of which is to visit the development site and orientate yourself before carefully choosing a position for your unit.
Ideally a show unit will give you an idea of the style, size and layout of your new house, but it's vital to check that the finishes you see are standard, and are not extras over-and-above the purchase price.
If there is no show house or completed units, carefully evaluate and examine the developer's plans, and compare the size and layout of the rooms in your current home to determine if it will suit your requirements.
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| South African Commercial Property Shines |
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South Africa's commercial property has outperformed all other property markets on a local currency basis in seven out of nine years, the Investment Property Databank (IPD) said on Thursday.
Since the last property boom started to gain traction, in 2003, nominal capital values have virtually doubled in seven years, rising by 97.4%. This includes a cumulative rise of 23% over the three years to the end of the last decade – the period when the global financial crisis struck, prompting a severe re-pricing in commercial property values in virtually all other markets worldwide.
End investor returns are also supported by strong income returns relative to most major real estate investment markets. The 10-year annualised income return or yield is 9.7%, according to the IPD South Africa Annual Property Index.
This income growth is driven by contracted rental uplifts linked to inflation and by a growing economy creating demand for space. Commercial property prices in major real estate markets, such as the US and the UK, were lower at the end of the decade than before the last boom. "That is, their entire accumulated price appreciation during the 'mid-noughties' were eroded out by the global financial crisis," the report indicates.
| Investment Property Databank (IPD), 04-11-2010 |
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| Kelderhof Country Village - Escape To The Cape |
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Kelderhof Country Village lies in the heart of Stellenbosch’s spectacular winelands and offers one of the best opportunities for investors to own a piece of this paradise – for far cheaper than you would expect.
For as little as R1,150,000, you could build a home in Kelderhof Country Village, thanks to the turnkey plot-and-plan options.
If you have ever dreamed of moving to the Cape, Kelderhof Country Village offers a little piece of country bliss. With over half the erven already snapped up and the specially created discount for the first 50 plot-and-plan properties bought, this development is a sound investment for any purchaser.
The estate comprises 420 plots that range between 250m2 and 1,000m2 in size, and all services are already in place. The value-add plot-and-plan option is a hassle-free offer, particularly for first-time builders, as the purchase price includes all ‘hidden’ costs typically associated with building, such as architect fees, builder fees, council fees and application fees.
| Kelderhof Country Village Press Release, 10-10-2010 |
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| South African Property Market Performances Robust |
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South Africa’s property market has consistently outperformed every other property market in the world for the past 13 years as house prices have increased by 456% over that period claims Peter Gilmour, chairman of RE/MAX.
Peter Gilmour says that the latest house price index published by The Economist in Britain shows that South Africa is the top-performing residential property market in the world followed by Australia where house prices have risen by 211% and Ireland where prices are up by 187% over the same period.
The SAPOA/IPD Property Index shows that commercial properties have delivered a total return of 8,7% in 2009, the highest nominal return of the 11 countries surveyed.
“The South African property market did not escape the ravages of the global recession but there is no doubt that it has emerged from the global crisis in much better shape than most other markets,” says Gilmour.
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| The Good Retirement Guide |
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Planning in advance for your retirement can not only save you a great of deal of stress, it can also provide you with financial security.
How will I spend my time?’ ‘Where will I live?’ ‘How much money will I have and how much will I need?’ ‘What do I want to do with the rest of my life?’ These are just some of the many questions that you might find yourself asking when you start thinking about your retirement. A bit overwhelming isn’t it? After all, this is totally unfamiliar territory. For this reason, it is vital to have a guide to help you navigate through this new terrain. You wouldn’t go to a foreign country without some kind of map, would you?
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| The Clarens Golf and Trout Estate |
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Situated in the Eastern Freestate in the popular art orientated town of Clarens, the development covers an area spanning approximately 50 hectares.
Upon completion the estate will comprise 250 homes, including 15 two-bedroom rental villas. To date, approximately 70% of the plots have been sold and 80 homes have been constructed.
estata will market the estate’s remaining 80 plots which typically measure 700m2 on average. Architecturally, the homes resemble a “Colonial Free State” style characterised by low pitched roofs and sandstone exteriors.
Clarens has become something of a tourist hotspot with its artistic wares, quaint B&B’s, trout fishing and Swiss-like mountain backdrop. These factors, coupled with a low crime rate, has resulted in an increase of those looking to escape the rat race either permanently or just on weekends.
The estate is also appealing given its geographic position roughly halfway between Johannesburg and Durban.
The estate features an 18 hole golf course designed by golf course design company ‘Golf Data’. Property owners at the estate have automatic access to the course and clubhouse and can fish at the estate’s own trout dam.
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| Retirement Living – The Right Way to Retire |
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What’s the most important thing to retirees? Most likely the peace of mind to come and go as they please, the knowledge that they aren’t a burden to anyone and a sense of security.
That’s confirmed by Sally Birkett-Sharp, a 66-year-old retiree who, together with her husband Eddie, recently took up occupation in a retirement village on Johannesburg’s East Rand. ‘Moving into the village is the best thing we have ever done,’ she says. ‘We travel frequently, so we can lock up and go when we need to. Also, we know that someone is always on hand should we ever require assistance.’
Sally likes it that companionship is available should she require it, and that she and Eddie enjoy an active community life. They often attend socials, such as bingo and movie screenings in the communal hall, and there are always activities being planned for the residents.
Although there is no frail care on site, a nursing sister visits everyone in the complex and takes their blood pressure. Another convenience that she likes is that the units are all serviced by an external cleaning company, as is the garden, so the responsibility of cleaning and gardening is taken off the residents’ hands.
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Wozani Ridge Coastal Estate is not your typical residential development. It’s not a super exclusive, mass produced golf estate. Neither is it a wine or olive estate. Rather it is a development that has been custom designed with quality construction and family in mind and an eco-friendly ethos at its core.
Situated on the outskirts of the popular seaside village of Hibberdene on KwaZulu Natal’s lush South Coast, Wozani Ridge covers an area spanning 24 hectares atop a sun-drenched ridge 90 metres above sea level, affording its residents unparalleled views over the sea and surrounding indigenous bush.
Ground was first broken at the site in 2004 and 86 stands were allocated. Of these, 41 have been sold and 15 homes have been completed and occupied.
Says Paul Lottreaux, the Developer of the estate: “In line with an eco-friendly ethos, each stand has been designed to blend as closely as possible into the surrounding vegetation.
“Approximately 16 hectares of the site has also been left untouched to encourage wildlife, create corridors of bush between the various homes and engender a feeling of peace and tranquillity.”
A plethora of indigenous animals and birdlife populate the area. Porcupine, genet, duiker and bushbuck are a common sight and over 350 bird species occur in the area.
| Wozani Ridge Coastal Estate Press Release, 03-07-2010 |
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| Foreigners Hungry for South African Properties |
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Despite the precariousness of the world's economy, there is still a lot of foreign interest in South African properties, with investors from the United Kingdom, Germany, Australia and even the USA eyeing property here.
A recent analysis of traffic on the Sotheby's International Realty shows that the number of international visits to the website is on the up. The French seem to be the most interested in property in South Africa, with the number of French visitors to the site up by 62%. The number of website visits from people in Australia, Canada and the UK is also up by 52%, 32% and 23% respectively. Visits by Germans have increased by 14% and American visitors have also increased by 10%.
Properties in the bracket of between R3m to R12m get the most hits from international visitors showing that it's mainly up-market holiday homes that foreigners are after. There is also growing interest in smaller, lock-up-and-go properties in metropolitan areas suggesting that corporate travellers want a little place to call home when they are in the country on business rather than staying in a hotel.
| Sotheby’s International Realty, 23-06-2010 |
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| Top 20 Millionaire Property Suburbs |
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South Africa's wealthiest citizens favour golf estates, property value statistics provided by data service provider Lightstone show.
Golf estate suburbs dominate a list of the country's most valuable residential areas. Even "top 20" suburbs that aren't best known for their golf courses are in close proximity to well-groomed fairways. Yet, ask any golf estate home owner how often they trammel their home fairway and the chances are good the answer will be "never". Anecdotally, golf estate residents seem to favour these exclusive enclaves for security reasons. Most have high-tech security features and entrances manned by security guards and with procedures to sign in visitors.
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