Wednesday, 27 May 2020 11:48

The success of online Property Auctions

The current state of the economy brought about by many factors including the Covid 19 Pandemic and the recent downgrade to junk status is having an unparalleled effect on the real estate industry in South Africa.

The Master Builders Association (MBA) North is calling on government to assist the industry by proactively engaging with the industry to firm up the lockdown regulations as they pertain to the construction industry as timeously as possible.

Many businesses operating in South Africa are cautiously optimistic for what is in store for the remainder of this year.

Deeds Office reopening good news for sellers and buyers of property, as well as the property industry.

Friday, 01 May 2020 10:22

Disappointment at S&P downgrade

Government has expressed disappointment at rating agency S&P’s decision to downgrade South Africa’s sovereign rating amidst the COVID-19 pandemic.

Consulting Engineers South Africa (CESA) as part of the Construction COVID-19 Rapid Response Task Team (“CC19RRTT”) is calling on Government to make the Construction Sector part of the designated Essential Services.

The Property Industry Group has announced an industry-wide assistance and relief package for retail tenants that are hardest hit by complying with South Africa’s lockdown in the face of the COVID-19 pandemic.

The Moody’s downgrade of South Africa’s credit rating should have happened long ago.

Government has identified 17 land parcels for resettlement purposes for people who stay in informal settlements should the need arise, as the country deals with the spread of COVID-19.

With the South African Reserve Bank’s announcement of interest rates cut of 100 basis points and earlier transfer duty exemption for properties below R1 million by the Minister of Finance, local regulations have made it attractive for first-time home buyers to enter the market.

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