Due to the thriving local economy and steady job creation in Polokwane, demand for residential homes has been consistently increasing as more people move to Limpopo’s capital.
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Latest statistics from First National Bank reveal some interesting trends in the property market. The ‘property barometer’ report released on the 19th of October lists predominant reasons given by sellers for selling their primary residences. Also known as the FNB Estate Agent Survey, the property barometer report provides valuable insight into the current developments and fluctuations in the market.
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One of South Africa’s most charming and scenic destinations, Franschoek is located in the valley-strewn lands of the Western Cape. Known the world over for its spectacular beauty, world class restaurants, wines and cuisines, the town was founded in 1688 by French Hugenot refugees and is located in the very heart of the Cape Winelands.
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Earlier this month construction officially began on Protea’s latest Fire and Ice hotel in Summit Place opposite Menlyn Mall in Pretoria.
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As one of the southern suburbs of Cape Town, Rondebosch is bordered by the suburbs of Rosebank, Rondebosch East, Claremont, Newlands and the breath-taking slopes of Devil’s Peak. Predominantly a residential suburb, Rondebosch also offers residents a shopping zone and small business district. The suburb is best known as an entertainment hub and for its vibrancy and bustling vibe due to the University of Cape Town’s proximity.
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Yesterday we looked at the first two steps that are involved in the purchase of a property, namely the signing of the Offer to Purchase contract and the role that the bond originator plays in obtaining finance for the mortgage. Following that the next five steps are involved in buying and registering a property.
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Part One The process involved in registering a bond or property transfer is usually straightforward and simple. Occasionally, however, the progression can be delayed by additional hurdles that arise when dealing with a deceased or mandated estate. The flow of the procedure remains the same in essence in these cases, with perhaps an added step or two. This guide serves to outline the basics of a normal purchase and property transfer.
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The Western Cape average house price growth has, since the first quarter statistics reports, shown the most significant growth since the bottom fell out of the property market in 2007. Already in the first quarter of 2012 the property prices in the Western Cape showed an increase – year-on-year – of 8.2%, ahead of all other South African provinces.
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Generally, most people’s biggest long-term debt will be their home loan. And while property prices may fluctuate randomly, you do have control over which home loan you choose to finance the purchase of your house. It is imperative that you select the loan with the options and benefits that suit your needs and your pocket the best.
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It’s easy to get confused and overwhelmed when confronted with the myriad of financial terms that get thrown around when talking about property as investment or the property market in general. To make things a little easier for you, here is a glossary of expressions explained as simply as possible. It is important to educate oneself so you can make wise, sensible and informed decisions about the long-term investment of property.
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