Why property markets slow before elections
With the election date set for 8 May 2019, it is possible that activity in the property market may improve in the months to follow.
According to Regional Director and CEO of RE/MAX of Southern Africa, Adrian Goslett, it is not unheard of for the property market to reach a bit of a standstill leading up to a national election. “Owing to the uncertainty that builds around this time, many investors prefer to keep their finances liquid until the future of the economy becomes more stable."
Sellers will have to keep this in mind when putting their property on the market over this period, he says.
These 5 disruptors will impact commercial property in 2019
The past year has seen a plethora of disruptors which are influencing the world of commerce, the property market included. These trends are bringing about major changes to the way business was carried out in the past. Many of these trends are technology-based, and particularly affect communications and finance.
“The green revolution is exercising a sizeable impact on the property market, as is the need for the office environment to provide a more favourable work experience for employees,” says Leon Breytenbach, National Manager of the Rawson Property Group’s commercial division.
Breytenbach discusses 5 disrupters that will influence the commercial property market going forward:
How traffic is changing property buyer needs in Cape Town
A new analysis by INRIX has shown that Cape Town’s commuting vehicle drivers spend more time in congested traffic than those of any other major city in South Africa.
The report has revealed that on average, Capetonians “lose a whopping of 162 hours” in traffic congestion situations a year. Cape Town’s predicament is even worse than that of Pretoria, where drivers lose 143 hours each month and Johannesburg where the figure is 119 hours, says Rowan Alexander, Director of Cape Town Northern Suburbs estate agency, Alexander Swart Property.
The survey ranks Cape Town as the 28th worst city in the world for traffic congestion, but it is still far better off than cities like Bogota in Columbia and Rome where commuters lose 272 and 254 hours every year, respectively.
Your comprehensive guide to rental deposits
Many tenants worry about the security of the deposit they pay on rental properties.
Shaun du Bois of Just Property says he believes that education is key to their peace of mind.
“There is a lot of mistrust around the question of paying a deposit and getting it back at the end of a lease,” he says. “In my experience, a successful outcome is assured when you have a good rental agent who clearly explains everything to both landlords and their tenants upfront. He or she should play the role of trusted go-between and make sure both parties understand their responsibilities and what they are committing to when they sign the lease on a property.”
For tenants who are concerned or those looking to rent their first property, Du Bois outlines the process and answers some questions they may have: