Latest news with #JustProperty
Zawya
3 days ago
- Business
- Zawya
South African Property in 2025: What Q1 reveals about the road ahead?
The South African property market began 2025 on a cautiously optimistic note. With inflation easing, interest rates holding steady with potential modest declines, and policy shifts making entry more affordable, the first quarter brought fresh energy into a market that showed resilience but little momentum in 2024. Drawing from Lightstone, BetterBond, and FNB data, Paul Stevens, CEO of Just Property, examines where the sector stands today and what we can expect from the rest of the year. A look back: the slow grind of 2024 Last year, the market was shaped by economic pressure and buyer hesitancy. The FNB House Price Index recorded just 0.3% year-on-year growth in October, down from 0.5% in September. Gauteng, the country's largest housing market, saw prices decline by 2.6%. Coastal areas in the Western Cape bucked the trend, buoyed by lingering semi-gration demand. Mortgage volumes began to pick up in Q4, with BetterBond noting a 6.6% year-on-year increase in applications and an 8.1% rise in home loans granted. Rental markets outperformed expectations. National average rent grew by 4.8% year on year in Q3 2024, with the Western Cape leading at 9.3%. Tenant affordability improved, arrears dropped to near-record lows, and average rent remained below 30% of household income. A fresh start: Q1 2025 insights Lightstone's Q1 2025 transfer data offers the clearest picture yet of post-pandemic market normalisation. The High Value segment (R700 000 – R1.5 million) accounted for the largest share of activity: 33.8% of volume and value. The Mid Value segment (R250 000 – R700 000) followed closely at 32.9% by volume, although its share of value was lower at 18.3%, reflecting affordability constraints. First-time buyers remained active in these bands, with 16.9% buying into the High Value category and 16.4% into the Mid Value range. Notably, average spend among first-time buyers was R1.2 million in the High Value band and R557 000 in the Mid Value band, showing a strong middle-market entry trend. A small portion also bought into the Luxury segment (R1.5 million – R3 million), with an average spend of R2.2 million. Regulatory shifts are supporting this momentum. From 1 April 2025, properties priced under R1.21 million were exempt from Transfer Duty Tax. This change, announced in the February Budget Speech, eases upfront costs for many buyers. Transfer Duty, effective from 1 April 2025 (Source: Sars) While the repo rate remained unchanged at 11% in the 20 March monetary policy announcement, the Deeds Office implemented a revised fee structure from 1 April, which includes a new lodgement fee (R50 per deed or document) and the requirement that all fees are now to be paid in advance. Looking ahead: opportunity in the details If inflation continues to slow, rate cuts may resume, enhancing affordability and spurring further buyer activity. Recent announcements from the United States regarding increased tariffs on a range of imported goods could have indirect consequences for the South African property market. Should these tariffs lead to disruptions in global supply chains or increased costs for building materials – particularly those with components sourced internationally – developers may face tighter margins and delayed project timelines. Higher input costs could also place upward pressure on the pricing of new residential and commercial builds, especially in the mid to high-end segments. Investors and developers would do well to monitor this closely, particularly if their projects rely on imported finishes, equipment or construction technologies. Here are my key takeouts for buyers, investors and developers: For first-time buyers: Properties under R1.21 million are now exempt from transfer duty, making this an ideal entry point. Consider the High Value segment for long-term appreciation, but factor in total transaction costs, including new deeds office fees. For investors: The rental market continues to perform well, particularly in the Western Cape. High demand, limited supply, and improved affordability create strong conditions for yield. Consider locations with low arrears and rising rent-to-income ratios. For developers: Keep an eye on supply chains for internationally sourced materials and fittings. Should costs increase, developers should see this as an opportunity to source new suppliers or revisit pricing structures. For commercial buyers: Industrial remains the most promising sector. Focus on logistics and light manufacturing hubs. Office property, while oversupplied, may offer long-term potential in niche or repositioned formats. For all buyers: Monitor inflation, interest rate decisions and potential policy shifts in the second half of 2025. These will shape affordability and investment timing. With Q1 providing a solid start and policy adjustments enhancing affordability, 2025 may be the year the South African property market transitions from recovery to renewed growth. Copyright © 2022 - All materials can be used freely, indicating the origin Provided by SyndiGate Media Inc. (
Scotsman
11-05-2025
- Business
- Scotsman
Extraordinary house with sea views and 90ft vinery among UK's most-viewed homes
The remarkable properties for sale range from a £105,000 bungalow to a £25 million private island From gorgeous Georgian town houses to jaw-dropping penthouses, converted campervans to bargain boltholes. Take a peek at the finest homes across the UK. Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Zoopla has revealed its most-viewed properties during April 2025 They include a luxury houseboat, a private island and a spectacular seaside property with a stunning hidden feature The properties range in price from £105,000 to £25 million The UK's most-viewed houses for sale have been revealed, and they include some truly remarkable homes. Zoopla has shared the 10 properties which garnered most clicks online during April, ranging from a £105,000 bungalow to a £25 million private island. Advertisement Hide Ad Advertisement Hide Ad Vaulted caves, sea views and 90ft vinery West Hill Villa, which looks out over Hastings Old Town, in Sussex, and across the English Channel, boasts a spectacular 90ft vinery. It was one of the most-viewed properties on Zoopla during April 2025. | Zoopla/Just Property One of the most extraordinary homes on the list is a beautiful Grade II-listed four-bedroom house perched on the hillside above Hastings Old Town, in Sussex, with stunning views over the English Channel. West Hill Villa, which was built in the 19th century, is set over five floors and boasts beautiful period features. The view from West Hill Villa out over Hastings Old Town towards the English Channel | Zoopla/Just Property The open-plan sitting room/kitchen and dining area opens up into a sandstone archway and into spectacular vaulted caves. But the most exceptional feature is the 90ft glasshouse vinery housing exotic plants, grapevines, banana trees and a fish pool. Advertisement Hide Ad Advertisement Hide Ad West Hill Villa is set into the hillside above Hastings Old Town, Sussex, and features spectacular vaulted caves | Zoopla/Just Property It's listed for sale with Just Property and has an asking price of £1.4 million. Private island with fascinating naval history Osea Island, in Maldon, Essex, which is listed for sale for £25 million, was one of the most-viewed properties on Zoopla during April 2025 | Zoopla/Fine & Country Also among Zoopla's most-viewed properties in April 2025 was Osea Island, in Maldon, Essex, which is just 40 miles from London and has direct access to the capital by air. Priced at £25 million, the 380-acre private island on the river Blackwater is home to 38 existing residential properties, multiple event premises and a pub, with the potential for further development. An ancient Roman causeway provides access for vehicles at low tide, and there is a pier with access for boats, as well as a light aircraft landing strip on the island, which was used as a secret naval base during the Second World War. Advertisement Hide Ad Advertisement Hide Ad 18th-century croft house with breathtaking mountain views Croftmaquien, a beautiful 18th-century croft house with stunning views of Scotland's Cairngorm mountains, was one of the most-viewed properties on Zoopla during April 2025 | Zoopla/Masson Cairns Another remarkable property racking up the views during April was this 18th-century croft house with breathtaking views of the Cairngorm mountain range, set in grounds extending to 1.8 acres, with a barbecue area, hot tub and sauna. Croftmaquien, which is tucked away in a secluded spot just five minutes from the village of Nethy Bridge, in the Scottish Highlands, is listed for sale with Masson Cairns for offers over £775,000. Below is the full list of the most-viewed properties on Zoopla during April 2025. Advertisement Hide Ad Advertisement Hide Ad 4, Eight-bed detached house in idyllic rural island location, Gott Bay, Kirkapol, Isle of Tiree - £510,000 5, Four-bed detached house, Sheepcote Lane, Tamworth, Staffordshire - £499,950 6, House of Craigie, eight-bed villa with tennis court and indoor swimming pool - £875,000 Advertisement Hide Ad Advertisement Hide Ad 7, Thee-bed terraced house, Chestnut Avenue, Whitburn - £130,000 8, Five-bed detached house, Croftmaquien, Nethy Bridge - £775,000 9, West Hill Villa, four-bed detached house, Cobourg Place, Hastings - £1.4 million 10, Three-bed luxury houseboat a seven-minute walk from Canary Wharf, Boardwalk Place, London - £270,000 Advertisement Hide Ad Advertisement Hide Ad
The Citizen
05-05-2025
- Business
- The Citizen
A guide for property buyers and sellers: This is why your estate agent asks so many questions
Under Fica, estate agents are obligated to establish and verify the identity of their clients before concluding financial transactions with them. When buying or selling property, estate agents usually ask many questions about your financial position. This can be headache for many people, however, there is a compelling reason why this is done. Paul Stevens, CEO of Just Property, said many people are puzzled when they realise how many personal details are required. But there is a clear reason behind the requests for identification documents, proof of address and financial records. ALSO READ: SA's six most popular provinces where people want to live Fica's role in the property sector The Financial Intelligence Centre Act (Fica) was introduced in July 2003 to fight financial crimes such as money laundering, tax evasion, terrorist activities and financing of weapons of mass destruction. 'How, you may ask, does this have anything to do with me buying or selling my property?' Stevens said that before the introduction of Fica, the real estate sector was susceptible to financial crimes, especially money laundering and terrorism financing risks, because criminals were able to use property transactions as a means to easily integrate illicit funds into the legal economy, while creating a safe and often lucrative investment for themselves. Documents needed when buying property He adds that under Fica, estate agents are obligated to establish and verify the identity of their clients before concluding financial transactions with them. 'This means that without Fica verification an agent may not accept a mandate from a seller, nor may they conclude a sale agreement. If they do not comply, then they face penalties and legal consequences.' Common documents requested: A certified copy of your ID document or passport to prove your identity. A utility bill – not older than three months – or lease agreement to confirm your residential address. Your tax number to prove you are registered with South African Revenue Services (Sars). Confirmation of your bank account. Proof of the source of funds to be used to finance the transaction. 'If you are self-employed or run your own business, you may have to supply the agent with supplementary information.' ALSO READ: More South Africans buying houses for less than R700k. Here's why Sharing of documents Stevens said that personal details of clients will be kept safe as estate agents are bound by strict confidentiality. 'Your documents will only be shared with necessary parties, such as the conveyancing attorney handling the sale of the property or the bank processing your bond.' He highlighted that in 2024, the Financial Intelligence Centre (FIC) updated its risk assessment guidelines for legal practitioners and estate agents, significantly expanding the risk factors estate agents must consider in property transactions. 'The revised guidelines, based on insights from the Financial Action Task Force and regulatory reports, outline 13 key risk indicators. 'These include clients refusing to provide identification, accepting third-party payments from jurisdictions with weak anti-money laundering controls, and tenants hesitating to grant agents access to rental properties.' Estate agents in Cape Town Stevens added that the Financial Action Task Force and regulatory reports also highlight the connection between financial crimes and high-value properties, emphasising geographic risks. 'For example, estate agents operating in affluent areas such as Franschhoek, Stellenbosch, Cape Town's Atlantic Seaboard and Constantia are advised to implement stricter measures to mitigate money laundering and terrorist financing risks.' In accordance with the above and with the rules set down by the Property Practitioners Regulatory Body (PPRA) and Fica, estate agents are obliged to report any suspicious or unusual transactions to FIC. 'Such transactions could include reluctance to provide information, unusual funding sources and transactions that appear to be above the client's means. 'Deposits paid by third parties and purchases made in the name of third parties are also red flags.' NOW READ: Thinking of buying your first home, here are five key issues to consider
