Berry Everitt, CEO of the Chas Everitt International property group, says the most positive news to emerge from the Medium-Term Budget Policy Statement delivered by Finance Minister Tito Mboweni today is that the economy is expected to “rebound” in the final quarter of 2020, and return to positive growth next year of 3,3%, following an expected decline of 7,8% this year.

Herschel Jawitz, CEO of Jawitz Properties, Chris Renecle, MD of Renprop and Dr. Andrew Golding, chief executive of the Pam Golding Property group, do all agree that the residential market is in for an interesting time in 2019 in South Africa.

Berry Everitt, CEO of the Chas Everitt International property group, says that the very detailed State of the Nation Address dealt with all of the economic and social issues that are currently of concern to the real estate industry, including the need to rebuild investor and consumer confidence in SA, stimulate economic growth, accelerate job creation and eliminate widespread corruption.

“South Africa’s residential market is in for an interesting time in 2019, but our predictions for the year are all positive, and we believe that home buyers and investors who take the plunge and buy early will be well-rewarded.”

Property owners in Johannesburg, Ethekwini and many other municipal areas only have a short time in which to lodge any objections to the new municipal valuations of their properties – and to the new municipal rates based on these valuations that they will be charged from July.

Negativity seems to have become the fashion in SA’s real estate industry over the past few months, but while there will be challenges, the property market is not going to “fall off a cliff” in 2018, says Berry Everitt, CEO of the Chas Everitt International property group.

When times are tough and consumer budgets are under pressure we hear a lot about mortgage defaults and home repossessions, but failing to pay your home loan instalments is actually only one of several ways you can cause your home to be attached and auctioned off?

Today’s ruling by the Constitutional Court means that new home owners will no longer have to worry about being held liable for historical debt incurred by previous owners, and having their municipal services cut off as a result, or possibly even having their property attached and sold in execution.

Adjustments to transfer duty on property in the 2016 national Budget are to impact only the upper end of the residential property market.

With a new national census in the offing, the trends inherent in the latest population estimates released by StatsSA already spell good opportunities that some clever property developers and investors have started to scen