Demand for residential rental properties saw some recovery in the first quarter of 2022 with the vacancy rate recovering to 8.26%, compared to 13.31% a year earlier, according to TPN Credit Bureau’s Residential Rental Monitor.
Finance Minister Enoch Godongwana delivered his maiden budget speech yesterday with few surprises. A R181 billion tax windfall, primarily as a result of a commodities boom, has helped to improve the state’s fiscal situation.
The new Property Practitioners Act (PPA), which came into effect on 1 February 2022, has been designed for increased support and regularisation of the sales and rental industries and other immovable property professions.
By late-2019, all 3 major provinces had seen the rental payment performance of their Commercial Property tenant population slide mildly from highs reached a few years prior.
The Western Cape High Court found in favour of a landlord who was owed in excess of R300 000.00 by a tenant due to the non–payment of electricity bills.
South African consumers are R1.56 trillion in debt to credit providers; and 53% of this debt is owed to the banks for Mortgages.
Property owners, landlords and investors in the commercial sector will probably not be surprised that the numbers for Q4 of 2013 indicate a drop-off in rent paid on time and in full.
The half point increase in the repo rate announced by the Reserve Bank on Wednesday (29 January 2014) certainly sent a shock wave through markets.
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