Latest news with #R170
IOL News
3 days ago
- Entertainment
- IOL News
Don't miss the East meets West Pavilion Bridal Fair today
Roberta Alessandri models Buhle Dlamini and Akila Sookraji display Eastern jewellery from Bollywood Jewels who are exhibiting at the East meets West Pavilion Bridal Fair. They are wearing rings from the Premjee Jewellers store at the Pavilion, who are gifting the competition winner with a white gold and 30-carat diamond woman's wedding and engagement ring. The annual East Meets West Bridal Fair taking place at Durban's Pavilion Shopping Centre ends today but there is still a chance to win fabulous prizes. The fair taking place throughout the mall, is designed to help couples and their families plan for the big day. Engaged-to-be-married couples can enter a phenomenal competition and stand in line to win fabulous prizes – the winner receiving a bespoke Durban wedding valued at more than R170 000. The sponsors include Premjee's Jewellers who are gifting a white gold and diamond ring; One Stop Tours is offering a trip to Mauritius as the perfect honeymoon destination; the Oyster Box Hotel is offering a reduced price for venue hire and honeymoon stay; Kevin Hsu Photography is providing a wedding videography and photography package; adding to the grand prize is a MAC gift hamper and the Bridal House Ballito is offering wedding gown hire.
IOL News
5 days ago
- Entertainment
- IOL News
A cascade of tuille
Roberta Alessandri model Nonkazimulo Khoza gets into the spirit of the annual East Meets West Bridal Fair running this weekend, at Durban's Pavilion Shopping Centre Roberta Alessandri model Nonkazimulo Khoza gets into the spirit of the annual East Meets West Bridal Fair running this weekend, at Durban's Pavilion Shopping Centre. The show features a Win a Wedding competition where one lucky engaged couple will receive a bespoke Durban wedding valued at more than R170 000. The draw is tomorrow, Sunday at 2.30pm and they need to be present at the draw. There are wedding fashion shows, produced by Roberta Alessandri Models, at the main Fountain today and tomorrow at 1pm with violinist, Marianna Eriksen performing. The fair is being held throughout the centre and boasts wedding themed events, activations, exhibitions and displays designed to help couples and their families plan for their big day.
27-05-2025
- Business
Buy or rent? Here's what the EXPERTS suggest
With many South Africans weighing up the pros and cons of renting versus buying property, experts say owning your own home remains the smarter long-term financial decision – especially in the current market. According to Samuel Seeff, chairman of the Seeff Property Group, purchasing a property allows individuals to build wealth and security by investing in an appreciating asset, rather than paying rent with no return. 'Each mortgage payment contributes to building equity in your home,' says Seeff. 'In contrast, rent is simply an expense with no long-term benefit.' As the outstanding loan decreases and property values increase over time, homeowners gain a growing asset that can be leveraged to achieve future financial goals. This makes buying a home both a savings mechanism and a long-term investment. RELATED | Vacant land in Clifton sells for R170 million Beyond the financial advantages, Seeff highlights the stability of homeownership. Owners are shielded from uncertainties such as rent hikes, non-renewal of leases, or landlords selling the property. 'You also gain the flexibility to renovate or upgrade your home to suit your lifestyle – something renters often can't do,' he adds. 'This not only improves your quality of life but also enhances the value of your property.' Property remains a solid asset class and a reliable hedge against inflation, Seeff explains. While rental prices tend to rise year on year, home loan repayments can remain relatively stable over time – subject to interest rate fluctuations. By making extra payments, using bonuses, or investing spare funds into a home loan, homeowners can reduce their debt faster or build equity more quickly. A major advantage in South Africa is the accessibility of home loans. Many banks continue to offer 100% financing, sometimes even including transaction costs, making it easier for first-time buyers to enter the market. In fact, a recent survey revealed that 46.5% of home loans granted in recent months were for first-time buyers, highlighting ongoing demand and opportunity in the sector. Seeff encourages financially secure individuals to act now, noting that property prices are continuing to appreciate. 'The longer you wait, the more you're likely to pay,' he warns. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1 Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
26-05-2025
- Business
Vacant land in Clifton sells for R170 million
In one of the most significant residential property deals in recent years, two adjacent vacant plots on Cape Town's coveted Nettleton Road in Clifton have been sold for a staggering R170 million (£7 million). The combined land area of 2 700 square metres places this transaction among the highest ever recorded for undeveloped residential property in South Africa. The sale was facilitated by luxury property specialist Annette Hepburn of Pam Golding Properties, who described the deal as a rare opportunity in one of the country's most tightly held property markets. 'This is one of a few remaining vacant sites on this prestigious road, where sales are infrequent and vacant land is almost unheard of,' Hepburn said. Nettleton Road, perched above Clifton's four beaches and offering sweeping views of the Atlantic Ocean and Twelve Apostles mountain range, is widely regarded as South Africa's most exclusive address. The street is home to a collection of architect-designed residences, many owned by global business leaders and ultra-high-net-worth individuals. According to Hepburn, the plots were purchased by a multinational entity that intends to construct a single, ultra-luxurious home on the site. Although the land has existing planning approval for nine apartments, the buyer is reportedly focused on creating a landmark 'trophy home' to crown the road. 'This location offers a lifestyle that is virtually unmatched – privacy, exclusivity, dramatic natural beauty, and access to Cape Town's best,' Hepburn noted. 'That combination continues to attract discerning global buyers.' Market activity remains strong The sale comes as property prices in Clifton continue to climb. The median residential sale price in the suburb has reached R34 million in 2025 – up 29% year-on-year and 136% higher than a decade ago. Market activity has also remained strong, with 18 sales already recorded in the year to date, surpassing pre-pandemic levels. While the Atlantic Seaboard has long been a magnet for luxury investment, this latest transaction underscores not just demand for location, but the extreme scarcity of vacant land in South Africa's most elite enclaves. As developers and private buyers compete for prime space, record-breaking deals like this are likely to become more frequent. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1 Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
IOL News
24-05-2025
- Business
- IOL News
Luxury real estate: adjacent 2,700sqm vacant erven in Clifton fetch R170 million
A multinational entity based in various countries, has indicated that it is intent on building one expansive trophy property to crown Nettleton Road. Image: Supplied Two adjacent vacant erven comprising a total of 2 700sqm have been sold for a total sum of R170 million, VAT inclusive. The plots of land situated in prime position in what is considered South Africa's most prestigious and coveted address-Nettleton Road in Clifton on the world-renowned Cape Atlantic Seaboard were sold by Annette Hepburn of Pam Golding Properties. According to Hepburn, a long-term resident agent and area specialist, while these erven have planning permission for nine apartments, the buyer, a multinational entity based in various countries, has indicated that it is intent on building one expansive trophy property to crown Nettleton Road. She said this is one of a few remaining vacant sites in this highly sought-after address, where properties rarely become available, and when they do, opulent, completed residences can be acquired for upwards of R150 million. 'Nettleton Road is the most exclusive of all roads in the country, with a limited number of residential properties, large luxurious, iconic homes which offer all the elements desired by high-net-worth individuals – an unparalleled lifestyle, exclusivity, privacy and rarity, and above all, the spectacular views which epitomise the essence of the globally acclaimed Atlantic Seaboard. "Panoramic views from Nettleton Road sweep from the Twelve Apostles Mountain Range to all four Clifton Beaches. This premium location is home to captains of industry and some of the most luxurious designer homes in South Africa.' Hepburn added that the prime, upmarket suburb, Clifton's residential property median sales price of R34 million for 2025 to date is +29.5% above year-earlier levels and 136% above levels a decade ago. 'Sales activity rebounded post-pandemic, remaining elevated ever since, with 18 sales already recorded this year to date (according to Lightstone data) – exceeding the whole of 2019 and close to the 2023 total of 27 sales. These figures include both sectional title and freehold homes.' Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ In February, an independent real estate group said the residential property market on the Cape's world-renowned Atlantic Seaboard has experienced a particularly buoyant start to the summer season, driven primarily by increased demand for luxury property and characterised by stock shortages. Basil Moraitis, regional head in the Western Cape for Pam Golding Properties, said at the time that the fact that their trading in December (2024) was busy throughout the entire month was a positive indicator and underlines the ongoing demand for Cape Town's sought-after Atlantic Seaboard-notably for prime luxury properties. Furthermore, they said January (2025) was much busier than December, with February also promising robust sales. Currently, we have a waiting list of qualified buyers, both local and international, all seeking to acquire their own place in the sun on this highly desirable coastline. Among notable sales in January by Pam Golding Properties are homes in Clifton-sold for R47 million to a local buyer and R46.5 million to an international buyer from Germany, and a home in Camps Bay purchased by a UK buyer for R55 million. Currently, Pam Golding Properties is marketing a five-bedroom (all en-suite) multi-storey, residence which was designed by award-winning architect, Stefan Antoni, and which is also situated in Nettleton Road, priced at R160 million including VAT with no transfer duty payable. With 180-degree views across Clifton and the ocean, this world-class architectural masterpiece is said to have unique, oversized, open-plan entertainment areas carefully integrated into the natural environment. With specifications of international standards, the villa is spread over five levels, each accessible by a private glass elevator. It includes a bespoke Italian Assirelli designer kitchen, level garden with outdoor lounge and dining areas, exceptional views from the spacious entertainment terrace complete with a 16-metre heated infinity pool, four reception rooms, home office, media room, gym, laundry, steam room, three additional guest cloakrooms, staff apartment with two bedrooms, kitchen and bathroom plus a security suite at the entrance-on ground level. There is 24-hour security, four garages and four off-street parking bays. Meanwhile, this week, Transnet SOC Ltd ('Transnet') said in a statement that in July last year, it obtained government approval to dispose of its residential properties through auction. The South African rail, port and pipeline company said the disposal of the residential property portfolio is a strategic imperative, positioning Transnet Property to focus on its main mandate of commercialising the portfolio and maximising returns through best practice asset management principles and standards. It said the decision to disinvest from the residential portfolio, except for employee accommodation in remote operational areas, is informed by recent loss-making performance and heightened risk exposure. To action this, Transnet Property has adopted a dual approach, which includes a self-funding component realised through the completion of several disposal transactions for non-core properties, particularly within the residential portfolio, including residential houses, hostels, lodges and line camps. Transnet Property has taken a strategic decision to urgently exit this portfolio, and the non-core properties will be disposed of through several transactions. The auctioneering process will be handled by independent auctioneers to ensure transparency and good governance. Independent Media Property
