According to the Re/Max National Housing Report Q4 2020, South Africa’s real estate market has shown a remarkable recovery following the hard lockdown and the Deeds Office closure that occurred in the second quarter of 2020. Data from Q4 2020 reflects nearly the same levels of activity in the housing market as it had pre-pandemic. According to Lightstone Property data, a total of 44,885 bond registrations were recorded at the Deeds Office over the period
Looking ahead, here is our forecast for South Africa’s property landscape in the year to come. Customer service Buyers, sellers, landlords and tenants will be looking for more value in the services that are offered to them. This will lead to an even more competitive business environment. Practitioners in the real estate sector need to ensure that we shift our focus from a transactional business to a relationship-based business. Service levels in our industry are
With some R5bn worth of income tax increases expected to be announced in February, and the possibility of wide-scale retrenchment a reality this year, banks can be expected to tighten their bond approval rates. But prospective buyers would do well to go in low and pay off their debt as soon as possible – here’s what the experts forecast as we head into 2021. The residential property market is expected to start losing some of
Property experts weigh in on whether landlords are still obligated to pay tenant utilities that are in arrears, even if their rent payments are up to date.“The landlord’s obligation in this regard does not change because the tenant does not pay the rent or utilities,” says Cilna Steyn of SSLR Inc. Attorneys, Notaries and Conveyancers. “The landlord must ensure that he continues to make payment to the service provider.” Steyn illustrates the requirement with the
CEO of Galetti Corporate Real Estate John Jack looks at upcoming trends within the changing landscape of corporate real estate. He predicts that while flexible work arrangements will remain the norm for some of 2021, this will turn around towards mid-year with major corporates driving the movement back to ‘business as usual’. Predicted CRE trends for 2021 A recent survey by Global Views, comprising 555 respondents in the commercial sector, indicates four major trends that