eProperty News
Thursday, 20 May 2021 23:11

Repo rate remains unchanged at 3.5%

The Monetary Policy Committee has decided against changing the repo rate, once again keeping it at 3.5% per annum, said Reserve Bank Governor Lesetja Kganyago.

Today’s announcement to hold the repo rate steady at 3.5% marks a full year that South Africans have been able to make the most of a historic low lending environment, says Carl Coetzee, CEO of BetterBond.

Over the past 15 years, the sectional title market in South Africa has become entrenched as a significant component of real estate sales, rising from 13% of total sales in 2005 to nearly 28% in 2020, says Pam Golding Properties.

Anybody who’s been through the process of searching for the right property, in the right location, at the right price knows that signing the offer to purchase (OTP) feels like victory, the signal to a new beginning.

Never heard of Occupational Rent, or unsure of its purpose in your property sales contract?

Concor has been awarded the contract to construct the new Ikusasa office block at Oxford Parks in Rosebank. Work started on the building, which will house Anglo Global Shared Services (AGSS), at the beginning of March 2021 and is scheduled for completion in January 2022.

Looking to broaden their hospitality offering into South Africa, WINK Aparthotels, part of Flyt Property Investment group, a property development and investment team, has been acquired by Afrirent Holdings (Pty) Ltd a Level-1BEE 100% black, female- owned company, via its subsidiary  Indalo Hotels and Leisure, effective 1 May 2021.

Investec Property Fund, (“IPF”, or “the Fund”) today announced a resilient set of results, with the full year reflecting the impact of the COVID-19 pandemic which brought with it unprecedented socio-economic and market conditions, economic weakness and uncertainty in the business environment.

Fairvest Property Holdings Limited (“Fairvest”) today announced that it had concluded agreements with shareholders of Arrowhead Properties Limited (“Arrowhead”) to acquire 50,1% of Arrowhead B shares through the issue of new Fairvest shares at a swap ratio of 1.85 Fairvest shares per Arrowhead B share.

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