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| Heaven Above Earth- One&Only Penthouses |
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Welcome to the most expensive apartment on the African continent, One&Only Penthouses
Welcome to the most expensive apartment on the African continent – and one of the most original. This is the breathtaking 1,358m2 property that its owner paid R110-million for – and then singlehandedly transformed into an homage to globetrotting glamour. For, besides the sheer sumptuousness emanating from every corner, there are also a few of her favourite pieces that she’s collected on her travels around the world, special items that remind her of adventures in the Far East, Europe, the Americas and beyond. The owner has taken a curatorial approach to design by grouping, having themed and packaged her globe-trotting collections – with the home’s success driven by a clever duality that appeals to the eye as much as the heart.
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| Property As An Asset Class |
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Any comparison between investment outlets, today increasingly referred to as asset classes, has to take into account whether the sum invested is paid upfront by the investor or whether he can arrange a deferred payment. It is for this reason that comparisons between asset classes are often difficult to make.
This was one of the key points made by Rob Lawrence, National Manager of Rawson Finance. "Property," wrote Lawrence, "is still the only asset class where an investor can take advantage of gearing. This makes it particularly suitable for the smaller investor with limited resources.
"Supposing," he said, "you had R1 million to invest. You might consider putting it as a lump sum into a government stock or JSE shares - or you could buy two properties, each worth R1 million.
"This is possible because a R1 million property should give you give a net rental yield of ± 6% (i.e. some R5,000 per month), which would probably enable you to approach the banks for a bond of R500,000 on each property.
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| South Africa Property Investment Atlas 2010 |
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2009 was clearly one of the more difficult years for property, South Africa however appears to have weathered the storm rather well in comparison to some other global economies, due in particular to the introduction of the National Credit Act and relatively conservative bank lending policies with respect to property investment.
2009 investment volumes were boosted by
some large transactions, in particular the merger of Redefine
Income Fund, ApexHi Properties and Madison Property Fund
Managers Holdings that transacted for close to €600mn.
Yields have reached their peak and blanket compression is not
anticipated to feature strongly unless bank lending criteria are
relaxed. However, with demand exceeding supply for quality
property assets select areas may see yield sharpen.
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| Property Still Number One for World’s Wealthy |
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Property beat other asset classes to the title of most popular among the world’s wealthiest individuals reveals the Global Wealth Report.
Conducted among Citi Private Bank's international high-net-worth clients - those with assets worth more than $10 million (R72.2 million) - showed that the bulk of their portfolios (33 per cent) were invested in property.
The next biggest chunk was Equities at 24 per cent followed by cash at 17 per cent and finally bonds at 13 per cent. Gold, despite its reputation as the safest of havens in turbulent economic environments, can claim only a 0.5% share of the average High Net Worth Individual's (HNWI) investment portfolio.
Furthermore, of those who have invested in property Residential property was the clear favourite accounting for 50% of the typical portfolio - this does not include investors own homes. Commercial was next at 30% but property funds and Real Estate Investment Trusts (REITs) were still being treated cautiously with a combined allocation of under 5%.
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| South Africa Direct Property Good Asset Class |
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When compared with other asset classes, South Africa direct property was trumped by equities and listed property in 2009, but it outperformed the bond market.
These findings emerged from the SAPOA/IPD South African Property Index for 2009, which also showed that over three years, direct property outperformed all other major asset classes. The index showed that long-term property returns are still in double-digits, with three and five year annualised total returns at 16,2% and 21% respectively. Over the full 15-year history of the index, annualised total returns now stand at 15,9%.
The SA commercial real estate market delivered a total return of 8,7% in 2009.
| Investment Property Databank (IPD), 31-03-2010 |
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Data shows house prices will rise, albeit modestly. Whether you are thinking of buying or selling this year, make sure you arm yourself with accurate data and take advantage of the tools that are becoming available, rather than basing decisions on unreliable outlooks, such as World Cup euphoria, or sentiment alone.
With the World Cup looming and plenty of post-budget positive sentiment flowing, Dieter Deppisch, head of Property Data Research at the South African Property Transfer Guide (SAPTG), assesses three trends that will significantly impact the property market this year and their implications for buyers and sellers. Analysis of the SAPTG data points to a market that is bottoming out, but one that faces a long, slow recovery. Our data is in line with industry projections of 6-8% nominal growth this year, which, along with the predicted CPI levels and stable interest rates, will augment buyer sentiment and should account for more signatures on sale contracts.
While we remain confident that dissipating recessionary factors, together with a slight increase in risk appetite on the part of lenders, will see upward trends in the property market become apparent this year, these will remain modest. Not all areas have recovered and many significant risks remain, including the Eskom crisis, affordability issues, access to credit and high property stock levels.
| South African Property Transfer Guide (SAPTG), 17-03-2010 |
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| Taj Cape Town to Open in Grand Style in January |
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Taj Cape Town, the new luxury hotel in the city centre, had barely opened its grand doors and Capetonians were drifting into the hotel at the top of St George’s Mall to sample the food, drink and general experience.
Sales and Marketing director Theo Cromhout said although the opening is mid-February, the hotel is taking limited reservations and bookings and welcoming the general public into the food and beverage outlets. The 176-room hotel is a joint venture between Tata’s Indian Hotels Company and city centre developers Eurocape. It is located in the original South African Reserve Bank and the Board of Executives buildings, opposite the Company’s Garden and St. George’s Cathedral.
The restoration process included the addition of 17 storeys, with walk-out balconies and splendid views over the city. Investment in the two-year project topped R500 million.
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| Solid Economic Growth for South Africa in 2010? |
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Although likely to remain subdued in the opening months, there is a good chance that economic growth could be surprisingly solid, with South Africa ending 2010 with annual GDP growth of over 3%, predicts Old Mutual chief economist Rian le Roux.
"The combination of a recovery in consumer demand, ongoing robust public sector spending, an end to the cycle of destocking, moderate export gains and the 2010 Fifa World Cup, could combine to generate a surprisingly robust acceleration in growth during the middle quarters of 2010," le Roux said in a statement.
"We could even see another interest rate cut from the Reserve Bank adding to the positive conditions, should inflation surprise on the downside and the rand remain strong."
According to le Roux, global recovery is solidly underway and he believes the risk of a "W-shaped" downturn is relatively small.
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| Retirement Living South Africa |
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Picture it – swimming pool framed by manicured lawn, tennis court sporting a smiling foursome, spacious bedrooms and en suite-bathrooms, lush fairways, evening entertainment, healthcare facilities, spa, Wi-Fi, and well-trained staff to respond to your needs.
Frankly, why shouldn’t retirement feel like a holiday? It’s no longer purely medical reasons or the challenge of living independently that motivates older people to replace their homes with retirement village accommodation. Nor is it always something that children (in the throws of mid-life crises) ‘do’ to their parents. In fact, many of the modern facilities are well situated for local amenities and aimed at anyone over the age of 50, working or not. So it frequently becomes a lifestyle choice – a vote for the security of knowing that if help is required, it is available. Even though not all retirement villages or complexes include frail-care, there is generally nursing help or a clinic on the premises. Even the able-bodied sometimes benefit from easy access to frail-care: after an operation, for example, or when one spouse needs it but the other doesn’t.
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| Good and Bad News for House Prices |
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There was good news and bad news for house prices, FNB said on Monday when it released its house price index.
The average house price for 2009 declined by -3.9 percent for the year as a whole, when compared to the average price for 2008.
However, the good news was that late in 2009 the index showed a trend indicating improvement, with December 2009 showing a further rise in year-on-year house price inflation to record +2.7 percent.
"While still nothing to be over-excited about yet, the trend points towards a significantly better 2010 for those of us involved in the residential property market, and an eight percent average house price inflation is projected for the year as a whole," FNB's property strategist John Loos said.
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