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The raising of the threshold for transfer duty on properties sold for less than R900 000, up from R750 000, as announced in today’s National Budget, is positive news as it provides some relief for first time home buyers, says Dr Andrew Golding, chief executive of the Pam Golding Property group.
Owning a home is a dream-come-true for many young people, but being a first-time buyer wrapped up in finding just the right property could mean that the thought of what it will cost to run and maintain that property hasn’t crossed your mind.
The proposed tolling of the N1 highway between Pretoria and Johannesburg will have a mixed impact on property values and the prioritisation of growth areas
For new homes a solid starting point for assessing relative value is building costs.