SA’s office landlords facing trying times
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HOMEOWNERS will need to do their sums and tighten their belts to keep up with bond repayments. PICTURE: ANDREW NEEL/PEXELS
The latest interest rate hike:
This is how much you will have to cough up on your monthly bond repayments BY BONNY FOURIE bronwyn.fourie@inl.co.za
H
OMEOWNERS, and those still hoping to step on to the property ladder, will have to cut back on their spending in order to keep up with their bond repayments. This is because the banks’ repo rate, as expected, was hiked by 25 basis points last week to 4.25%, which means the prime lending rate is now 7.75%. Although this increase might only add a few hundred rand to some homeowners’ monthly bond repayments, those hundreds could add up to thousands over the next year, and the reality is that the hikes are likely to continue over the coming months. BetterBond calculations show with the previous prime lending rate of 7.5%, the monthly repayment on a R1 million home – taken over a 20-year period – was R8 056, but now these homeowners will be paying R8 209 a month – R153 more. And, of course, the more expensive the home is, the more you will pay. If your home cost R2m, you would have paid R16 112 last month. From now, though, until the next interest rate decision, you will be paying R16 419 (R307 more). And if you are the owner of a R3m home, your monthly bond repayment will climb from R24 168 to R24 628 (R460 more). Similarly, BetterBond reveals, monthly bond
repayments on these home prices will see higher rises: • R4m bond repayment will increase from R32 224 to R32 838 (R614 more) • R5m bond repayment will increase from R40 280 to R41 047 (R767 more) • R6m bond repayment will increase from R48 336 to R49 257 (R921 more) Yet although the rise in the prime lending rate will affect monthly bond payments, BetterBond chief executive Carl Coetzee says the increases forecast by the South African Reserve Bank for the next three years are “gradual” and the prime lending rate “should only hit double digits in 2024”. “This means that there is still time to make the most of the accommodative lending environment,” he says. Just Property chief executive Paul Stevens suggests home loan holders use a repayment calculator to see how their payments are likely to change and then prepare for increases. “Bond repayment calculators can help you understand the effects of increases in interest rates on your affordability.” And, with interest rates likely to rise over the next few years, homeowners who haven’t looked over their bond commitments should do so, advise both Stevens and Coetzee.
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Should I fix my home loan interest rate to shield me from rates increases IN THE light of the expected increases in home loan interest rates, many homeowners are wondering whether to fix their interest rates now to avoid further increases. If you are one of them, you need to understand what this choice entails and the impact it can have on your home loan repayments over an extended period. Carl Coetzee, chief executive of bond originator BetterBond, says home loans are awarded, by default, on the basis of a variable interest rate. “Only once your bond has been registered can you apply for a fixed interest rate and there is a strict time limit attached before the offer lapses.” However, while market conditions are a useful guide, he says “the most important factor when deciding on whether to fix the interest rate or not should be affordability”. Paul Stevens, chief executive of Just Property, notes that, right now, a fixed interest rate will “almost certainly be higher” than a variable rate, so you should rather get indicative proposals from the lending institutions. “If you are applying for a bond, comparing fixed versus variable interest rate options is a worthwhile exercise. From there, you can apply the options to your appetite for risk/ uncertainty and future prospects.” Coetzee agrees: “Generally, a fixed interest rate is higher than a variable rate as it poses more of a risk to the bank. It is only negotiated at the time of bond registration and the rate offered is dependent on the going rate at that specific time.” Stevens says interest rates are expected to rise gradually to 2024, with industry predictions suggesting three or four hikes this year, possibly by as much as 5%. “The repo rate expected to return to its pre-pandemic (end-2019) level of 6.50% by the close of 2024.” Berry Everitt, chief executive of the Chas Everitt International Property Group, says homeowners and prospective buyers must also be aware that most banks will charge borrowers a premium to fix the interest rate on their bond – and will also usually only fix a rate for a minimum of two years. For example, if this premium is 2%, then
anyone who is currently being charged an interest rate of 7.75% on their home loan would have to pay at least 9.75% for the next two years if they switch to a fixed rate option. The effect of this premium would be to increase the minimum monthly repayment on a home loan, which would be money wasted unless the variable rate applicable to that home loan also rose to 9.75%. However, if you could afford the additional amount, and you instead were to use it to reduce the capital portion of your bond while staying on a variable interest rate, Everitt says amortisation tables show you would stand to lower the total balance outstanding. “This means that, if and when interest rates do start to rise again, your minimum monthly bond repayment will be calculated on a much lower capital balance.” If you’re still unsure, Rhys Dyer, chief executive of the ooba Group, gives a quick rundown of the pros and cons of each approach. VARIABLE INTEREST RATE Pro: If the prime interest rate goes down in response to market forces, the interest on your home loan goes down with it, and you save money. Con: On the other hand, if the prime interest rate goes up, so do your repayments. The fluctuating interest rates can make it difficult to budget accordingly. FIXED INTEREST RATE Pro: You keep paying the same home loan repayment amount monthly, regardless of fluctuations in the market, for an initial agreed period. You will thus be able to factor your repayments into your budget with 100% accuracy. Con: A fixed interest rate may be less of a risk for you,but it’s more of a risk for the bank, so they’re likely to charge you a higher rate. Con: Fixed interest rates expire after the initial agreed period, after which you will either have to revert to variable interest rates or negotiate a new fixed rate with the bank. Con: The option of a fixed interest rate for the initial agreed period is only offered after bond registration, so you cannot factor this into your planning upfront.
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Letter from the editor Letter from the editor
AT A RECENT meeting I found it interesting that, when people were talking about what wealth AT A RECENT I found meant to them,meeting every single one itequated interesting that, when people wealth with owning were talking about what wealth property. meant to rising them, costs every on single one With many equated wealth with owning fronts, however, for some it had property. to be a choice between owning With rising costs onamany a property or building business fronts, however, forchildren. some it had or educating their to beOwning a choice between owning property is not aalways property or building business possible, and ayet, to or educating their your children. have a roof over head you property not canOwning call your own is isstill desired. always and our yet, country to Duepossible, to our past, have a roofmany over people your head has seen live you to a can own ishaving still desired. ripecall old your age never owned our past, ourhomes. country theDue title to deeds to their has to a Andseen oftenmany their people childrenlive and ripe old age never having owned grandchildren today are working the title theircreate homes. hard to deeds ensuretothey And often theirwealth children generational withand bricks grandchildren and mortar. today are working hardOn to ensure they create the other hand, generational wealth with interestingly, we have thebricks and mortar. world’s richest man selling off On the other hand, his property assets. It has been interestingly, we have the has reported that Elon Musk world’s richest man selling only one property left in hisoff his property assets. has been portfolio, which has Itgone on and reported that Elon Musk hasin off the market a few times only onemonths. property left in his recent portfolio, has gone on and And, which of course, we have a off the market a few times in growing issue of homelessness recent months. involving people who may have And, of course, had a home once, we andhave who a growing issue of homelessness don’t now, and others who have involving people who may have never had a home – whether had a home once, and who rented, shared or otherwise. don’tA now, and whoinhave recent lateothers bloomer never had aownership home – whether the house market rented, or otherwise. myself,shared I had thought I would bloomer in until be Aa recent foreverlate renter. That is the house ownership interest rates started market coming myself, I had thoughtpayments I would on down and monthly be a forever That is until a home loanrenter. were no higher than interest cominggiving the rent.rates Withstarted some banks down monthly payments on 110%and loans, it meant you could aalso home loanyour were no higher than cover transfer costs. the rent. banks So, I With took some the leap. Thegiving 110% loans, it meant youacould fact that I owe the bank lot of also cover your transfer money, that I now have costs. to worry So, rates I tookand the taxes, leap. The about property fact that I owe the a lot of values and upkeepbank of the home, money, that I now have to worry pales in comparison to the about and taxes, property feelingrates of owning property. values and upkeep of the home, However, I wonder if property pales in comparison to the ownership is always going to feeling of as owning property. of be seen the cornerstone However, I wonder property wealth creation? Whatifdo you ownership is always going to think? be seen asregards the cornerstone of Warm wealth creation? What do you think? Warm regards vivian.warby@inl.co.za
Vivian Warby
Vivian Warby
vivian.warby@inl.co.za
FIND US HERE:
@iolproperty @property360.co.za FIND US HERE: @iolproperty @property360_za @property360.co.za
OFFICE property owners must optimise costs and income as much as possible by looking for innovative ways to generate revenue. PICTURE: NG/UNSPLASH OFFICE propertyJIESUANG owners must optimise costs and income as much as possible by looking for innovative ways to generate revenue. PICTURE: JIESUANG NG/UNSPLASH
Office sector is Office sector is still in doldrums still in doldrums
Landlords encouraged to be innovative if their investments are going to pay BY BONNY FOURIE bronwyn.fourie@inl.co.za
Landlords encouraged to be innovative if their investments are going to pay
O O
WNERS of office properties will have to get creative if they want to dig themselves WNERS of office out of their Covid-pandemic properties willhole haveenough to to make get their property investments creative if they want work for to them. dig themselves out of now, says John chief theirRight Covid-pandemic holeJack, enough executive of Galetti Corporate to make their property investments Real Estate, the office market work for them. remains the “poor of the Right now, says cousin” John Jack, chief commercial property industry as executive of Galetti Corporate retailEstate, returns pre-Covid levels Real thetooffice market and the the industrial propertyofsector remains “poor cousin” the has remained resilient throughout. commercial property industry as can to seepre-Covid evidence levels of this retail“You returns in your day-to-dayproperty movements – and the industrial sector people are back in thethroughout. shops and has remained resilient restaurants butevidence you mayofhave “You can–see this noted although there is more in yourthat day-to-day movements – traffic, are there is not as much people back in the shops as and there was pre-Covid. restaurants – but you may have “People are still hybrid noted that although there isworking more and that means a significant traffic, there is not as much as number offices remain vacant,” there wasof pre-Covid. Jack says. “People are still hybrid working commercial property and Although that means a significant owners are usually less affected by number of offices remain vacant,” small interest rate hikes because Jack says. of lower gearing rates – a property financial Although commercial ratio that some form by of owners arecompares usually less affected owner equity (or capital) to funds small interest rate hikes because borrowed by therates company – they of lower gearing – a financial are affected by GDP growth or of ratio that compares some form declineequity because “directly owner (or this capital) to funds impacts vacancy and rental– levels”. borrowed by the company they “It’s theby underlying tenants are affected GDP growth or who arebecause more affected in their decline this “directly own businesses impacts vacancy that and ultimately rental levels”. determine the pressure “It’s the where underlying tenants will release.” who are more affected in their commercial ownGenerally, businessesJack thatsays, ultimately property owners are under determine where the pressure increasing pressure through rising will release.” rates and operating costs as these Generally, Jack says, commercial “continue to surge higher property owners areway under than underlying escalations”. This increasing pressure through rising effectively means a costs largerasportion rates and operating these “continue to surge way higher than underlying escalations”. This effectively means a larger portion
infrastructure viewpoint. of the total BY rentBONNY is being attributed FOURIE bronwyn.fourie@inl.co.za “And local governments are toward costs instead of the base actively seeking opportunities to rent, “which is what the landlord partner with developers ultimately infrastructure viewpoint. to leverage of the total wants”. rent is being attributed inner-city residential projects He advises property owners to “And local governments areas a toward costs instead of the base way of addressing growing social optimise costs and income, looking actively seeking opportunities to rent, “which is what the landlord housingwith backlogs.” for non-gross lettable area revenue partner developers to leverage ultimately wants”. However, he points out as a where possible. inner-city residential projects He advises property owners to investing in conversion projects “Cellphone masts and social is optimise costs and income, looking way of addressing growing not an automatic advertising arearea good housing backlogs.”ticket to riches. for non-grossboards lettable revenue “As with he anypoints property examples of this. However, out where possible. development, in any sector, “Deploy tech where investing in conversion projects is “Cellphone masts andpossible caution is required.” to reduce the people site not an automatic ticket to riches. advertising boards are on good Property entrepreneur managingofa this. building.” “As with any property and examples chief executive of Frankie Because lockdown forced development, in any sector,Bells “Deploy tech where possible Real Estate Grant Smee believes companies accepton a remote caution is required.” to reduce thetopeople site while many entrepreneur landlords want to workforceawas not only viable, but Property and managing building.” meetexecutive residentialofdemand, there are could also deliver improved chief Frankie Bells Because lockdown forced cost factors thatGrant should be considered and productivity efficiencies, Real Estate Smee believes companies to accept a remote says beforemany proceeding. Malusi Mthuli, KZN provincial while landlords want to workforce was not only viable, but one might have a are head also at FNB Commercial Property meet“While residential demand, there could deliver improved cost structure or physical building, Finance, the conversion of factors that should be considered and productivity efficiencies, says commercial spaces residential it’s stillproceeding. important to weigh up before Malusi Mthuli, KZNinto provincial units, although not a new trend, is whether property lendsaitself “Whilethe one might have head at FNB Commercial Property also onethe for conversion office property to conversion.” or physical building, Finance, of owners structure to consider.spaces into residential He suggests that following commercial it’s still important to the weigh up One of the driving forces factors are prioritself to units, although not a new trend, is whether theconsidered property lends behind this trend, he says, is the investing: also one for office property owners to conversion.” fact property funds continue to Location: Mostthat of the to consider. He suggests theproperties following offload large portions of their converted from office to residential One of the driving forces factors are considered prior to office stock, “which are in areas where there is demand behind this trend, hemost says, now is the investing: consider less funds viablecontinue from a returns for residential easy access fact property to Location: Most and of the properties perspective properties to amenities. offload largethan portions of theirin most converted from office to residential other stock, sectors”. It needs to where feel like home: office “which most now are in areas there is demand “Fortunately, offloading “While many and potential home consider less viablethis from a returns for residential easy access of office space somewhatin most to buyers will be attracted to the perspective thanisproperties amenities. serendipitous living a business other sectors”. given the significant Itprospect needs tooffeel likeinhome: upswing in demand welldistrict,many the property “Fortunately, this for offloading “While potentialwould homestill located properties have towill feelbelike home. to the of office residential space is somewhat buyers attracted that align with the the changing “It needs to beincomfortable, serendipitous given significant prospect of living a business lifestyles of an evolving working quiet, spacious and inviting, with upswing in demand for welldistrict, the property would still population.” easy to access located residential properties have feel to likeshops, home.restaurants saysthe prices of empty and“Itwalking routes. that Mthuli align with changing needs to be comfortable, office blocks lower than If the spacious structureand is right: You with need lifestyles of anare evolving working quiet, inviting, ever, and the costs involved to weigh up the costs of building population.” easy access to shops, restaurants in converting off-plan vs renovating an existing Mthuli saysthem pricesare of “far empty and walking routes. lower” than building them from property. You also need to consider office blocks are lower than If the structure is right: You need scratch, from a utilities parking, thethe property’s and ever, andespecially the costs involved to weigh up costs ofsize building
what’s available in the area in the same price bracket. Smee notes that while many landlords still want to area reinvent what’s available in the in the vacant properties, there are same price bracket. hoteliers who are looking Smee notes thatalso while manyto get in on the action. landlords still want to reinvent “Such partnerships vacant properties, there are are designed to fulfil the of to all hoteliers who are also needs looking parties get in oninvolved. the action. “The tourism sectorare is still not “Such partnerships up to speed and accommodation designed to fulfil the needs of all for travel remains seasonal.” parties involved. The current “The tourismpressure sector ison stilloffice not property owners is also being up to speed and accommodation revealed the number of new for travel in remains seasonal.” building plans being passed for The current pressure on office such properties. property owners is also being Johnin Loos, propertyof sector revealed the number new strategistplans at FNB Commercial building being passed for Property Finance, says while such properties. non-residential buildingsector statistics John Loos, property showed “positive growth” for strategist at FNB Commercial January, Finance, in squaresays metres of Property while building plans passed, non-residential buildingoffice statistics space planning completions showed “positiveand growth” for were thein“key drag” on overall January, square metres of non-residential building levels, building plans passed, office remaining low and compared to space planning completions pre-lockdown levels. were the “key drag” on overall “Office plans passed levels, declined non-residential building by 17.9% year-on-year in remaining low compared to January 2022 levels. off a very low base pre-lockdown a year prior.” “Office plans passed declined He says the low level by 17.9% year-on-year in of planned2022 new off office space January a very low base adevelopments, year prior.” despite some recent growth, is not surprising, He says the low level of with office nationally planned newvacancies office space at record levels. developments, despite some “Employment numbers in the recent growth, is not surprising, office-bound economic sectors with office vacancies nationally have declined at record levels.since lockdowns started in 2020, greater levels of “Employment numbers in the remote work are the future, and office-bound economic sectors moredeclined efficientsince use oflockdowns office space have through the ‘hoteling’ deskof started in 2020, greater of levels space iswork a keyare factor too.” and remote the future,
more efficient use of office space in converting them are “far off-plan vs renovating an existing lower” than building them from property. You also need to consider through the ‘hoteling’ of desk DISCLAIMER: The publisher editor of this magazine give no warranties, guarantees assurances and makeisnoa representations regarding any goods space key factor too.” scratch, especially from and a utilities parking, the property’s size or and
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or services advertised within this edition. Copyright ANA Publishing. All rights reserved. No portion of this publication may be reproduced in any form without prior written consent from ANA Publishing. The publishers are not responsible for any unsolicited material. Publisher Vasantha Angamuthu vasantha@africannewsagency.com Executive Editor Property and Environment Vivian Warby vivian.warby@inl.co.za DISCLAIMER: The publisher and editor of this magazine give no warranties, guarantees or assurances and make no representations regarding any goods Bonny Fourie Design Kim Stone reserved. kim.stone@inl.co.za orFeatures services Writer advertised within thisbronwyn.fourie@inl.co.za edition. Copyright ANA Publishing. All rights No portion of this publication may be reproduced in any form
@IOL Property @property360.co.za
without prior written consent from ANA Publishing. The publishers are not responsible for any unsolicited material. Publisher Vasantha Angamuthu vasantha@africannewsagency.com Executive Editor Property and Environment Vivian Warby vivian.warby@inl.co.za Features Writer Bonny Fourie bronwyn.fourie@inl.co.za Design Kim Stone kim.stone@inl.co.za
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INVESTING in a new development, or buying an existing home, have advantages and disadvantages. PICTURE: MAX VAKHTBOVYCH/PEXELS
Q
: WE ARE new rental property investors. Should we buy in a new, developing area or an established neighbourhood? What do tenants want? A: Factors that help guide investors make a decision in this regard include the cost of repairs and maintenance, existing and future suburban demand, as well as houseprice appreciation and transfer duties. The biggest detractor against investing in older homes is the possible repair and maintenance costs. When buying an older home, there may be some maintenance and repair work to be completed to bring the home up to scratch before leasing it to tenants. The possibility of ongoing repair work is also greater on older properties. However, to offset these costs, these maintenance expenses can be deducted from the rental income to reduce the investor’s taxable income. As an upside, there tends to be higher demand for older homes in more established neighbourhoods than for newly built homes. Most new homes are found in expanding suburbs that will grow in demand over time as the neighbourhood becomes more established. For investors, this means they can often charge more in rent, and might enjoy lower vacancy rates on older homes in more established suburbs, where demand for the area already exists. In addition, if an investor purchases in a new development where there is an abundance of similar homes on the market all at the same time – such as in an apartment block or sectional title estate – they will have to compete for tenants which will put pressure on rents and might affect vacancy rates. But this is also where one of the most enticing factors of buying a newbuild comes into play. For those who are patient, the potential long-term return on investment on a new-build can sometimes outstrip that of an older home in a more established suburb. Because demand in new suburbs is not yet as high as it is in established suburbs, a new-build can cost less than an older home. If the suburb grows in demand over time, the investor could benefit from much greater returns on the original purchase price. – Adrian Goslett, regional director and chief executive of Re/Max of Southern Africa
Should you invest in a new or established area? There are pros and cons to both sides, so experts advise investors to do their homework to find out which would suit them best
Q: If I sell my home on a sole mandate, what should the agreement stipulate in order to make sure the agent is actually working hard to sell my home? A: For any mandate, open or exclusive, the agreement needs to be in writing and should stipulate a number of key things. These include the listed asking price of the property, the time frame that the mandate is for – start and end date – and the agreed-upon commission structure. It also includes any other terms and conditions that will apply with regards to the sale of the property. A ‘disclosure document’ confirming the condition of the property forms part of the mandate document. This is a legal requirement. The agent then has confidence they have all the details about the property they are introducing to the market. The task of choosing only one agent and agency can be daunting, so I recommend you do the following: • Ensure the agent that you interview has a valid Fidelity Fund Certificate and is registered with the Property Practitioners Board. Ask for a copy of this registration certificate for both agent and company. • Find an area-established agent and agency with good client reviews and testimonials. • Use an agency that has experience in your particular neighbourhood and written
and verbal referrals to back this up. • Look into whether the agency provides regular training and whether the agent understands current market conditions. • Take a look at all the companies’ online channels – website and social media. • Chat about what the marketing process offered will entail. – Michelle Cohen, principal at Leapfrog Johannesburg North East Q: We love our home, and have been proud to have people over for visits, but it does not seem as if they find it very appealing, which is hurtful. How can we make it look and feel as good to visitors as it does to us? A: The beauty of your home is often the very thing that makes you fall in love with it – how the contrasting colour wall brightens up a once-boring room or a fresh coat of paint, with beautiful complementing curtains, brings a regal look to a simple structure. What’s interesting to see, and this we speculate has a lot to do with social media trends, is that many homeowners are taking ownership of their own style. The DIY lifestyle has become a viral sensation, with many people doing extraordinary things with a limited budget. Social media platforms, like TikTok and Pinterest, have become playgrounds for DIY homeowners taking simple and minimalistic properties and turning them into paradise.
It is amazing what thrifting through a second-hand store or shopping online for used furniture can do to take your home to the next level. The benefits of recycling and re-using once forgotten items to bring new life to your home makes it all the more exciting. This trend has knock-on effects on how people identify value in their own home. – Richard Gray, chief executive of Harcourts SA Q: As a landlord, I know the steps I need to take when vetting a tenant but are there other things I may be missing? Like not-so-obvious red flags? A: Many landlords overlook these steps in the tenant screening process: Employment history: Some prospective tenants’ short employment histories can tell a story. Job hoppers or people who run into trouble in the workplace can sometimes display these behaviours in their home life too. Criminal history: Performing a criminal background check may sound extreme but this is a standard part of the hiring process in many industries and rentals should be no different. General behaviour: Often there are red flags from the very first engagement with a tenant. In some cases, they are hard to reach or can be extremely difficult and demanding for no apparent reason. – Grant Smee, managing director of Only Realty
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PICTURE: JOSH HILD/UNSPLASH
National Listings
T O A D V E RT I S E I N K WA Z U L U - N ATA L Sherine Budhram
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abigail.wilmot@inl.co.za
TO ADVERTISE IN GAUTENG Antoinette Gilbert 083 793 5382
antoinette.gilbert@inl.co.za
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Web Ref: RL11345
LUXURY LIVING
This 2 bedroom apartment offers an open floor plan, large windows and an elegant kitchen with integrated Smeg appliances. 2 P/bays. VAT Incl. - No Transfer Duty
DISCOVER HOME & ST YLE
Perfect for slick urbanistas ascending the property ladder. 1 Bedroom, 1 bathroom ideally located just up from Main Road. 1 Parking bay. VAT Incl. - No Transfer Duty
PAUL UPTON 071 610 8088
Rentals 021 433 2580 A visionary company with decades of experience
MATTHEW 083 645 4583
PAUL 071 610 8088
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RHONDA RAAD PROPERTIES We specialise in the Sales and Rentals of residential property in the Southern Suburbs and Surrounds. Contact us today for all your Buying, Selling and Rental needs on 082 448 7795 / 021 685 2212.
CONTACT US NOW: 082 448 7795
KENILWORTH UPPER R4,5 MILLION RONDEBOSCH RONDEBOSCH MILLION RONDEBOSCH RONDEBOSCH R1,95 R1, 5 MILLION RONDEBOSCH R1,85 R2,6 RONDEBOSCH R2,5 MILLION MILLION RONDEBOSCH RONDEBOSCH R1,795 R1,595 MILLION RONDEBOSCH R5,3 MILLION RONDEBOSCH RONDEBOSCH R2,6MILLION MILLION RONDEBOSCH R1,15MILLION MILLION ROSEBANK R1,695 MILLION R1,55 MILLION ON SHOW Sunday 2 – 5 pm Cathay View, 12 Devonshire Hill Road, Rondebosch
S
Small Complex. Two Spacious Security Complex Ecklenberg in pretty garden Above the Line. Sought after leafy Prime Security Position! Spacious Two Bedroomed Bedroomed Apartment with lounge setting. Threewith Bedroomed Apartment Greenfield Road! Charming DuplexSpacious Apartment Garage forThree Sale. leading to large Balcony. Fitted Kitchen Bedroomed Family Home For Sale (200m²) Stunning Mountain Views. Dining with Area and Lounge leading to*Kitchen, Large & FullinRoom, Bathroom. *Parking Bay. set Easi-care Garden with Double Balcony withSun Views! Fitted and Full Dining Room, Two Kitchen Full Bathrooms, Close to Dean Street Shops, Restaurant Bathroom. Walking distance to Garage. Schools, Carport. toRoom. Main Road Shops, TV Lounge &Walk Laundry *Tandem and Shuttle Stop. UCT,Jammie Shops and Restaurants && Transport. Schools. *Close to Shops Transport.
BY D L O
US
ON SHOW SUNDAY 2-5PM
ON SHOW SUNDAY 2 - 5 PM Woodlands, 5 Highstead Road, Rondebosch.
*Woodlands, 5 Highstead Road, Rondebosch.
Small Complex aboveMain the Main PrimeSecurity Position! North-Facing Two Security Complex above Road. Road. Large modernised Bachelor Charming North-West facing Two Bedroomed Bedroomed Apartment with Lounge converted One Bedroomed Apartment Apartment (98m²) withFitted Lounge leadingand to leading toto Balcony. Kitchen (46m²) with Kitchenette, Built-in Balcony with Superb Views! Fitted Kitchen Shower Bathroom. *Lock upCupboards Garage. and Shower Bathroom with Sep Toilet. Walk Balcony. Shower Bathroom. Walk to Walk to Jammie Shuttle, UCT, Shops to UCT, Jammie Shuttle,Shops Shops&&Transport. Transport. UCT, Jammie Shuttle, & Transport.
Spacious Two Spacious Three Bedroomed Apartment Spacious North-Facing North-Facing TwoBedroomed Bedroomed Apartment with and Balcony with (123m²) above the Main Road in pretty Apartment with Lounge Lounge and Balcony with Mountainsetting. Views.Bathroom Bathroom withShower Shower Mountain Views. garden Fitted with Kitchen and over Bath. Bath. Fitted Fitted Kitchen. *Garage. *Walk Bathroom. *Parking Bay.*Garage. Walk to*Walk UCT, over Kitchen. to Shopping Shopping Centres, Restaurants, UCT& Jammie Shuttle, Main Road Shops to Centres, Restaurants, UCT and Transport. Transport. Transport. and
Security Complexabove above Road. Two Bedroomed Apartment with Study Security Complex MainMain Road. Large Large Three Bedroomed Apartment or small 3rd Bedroom. Lounge Three Bedroomed Apartment (127m²) with (127m²) views. Fitted Balcony. with Fittedmountain Kitchen and Bathroom. with mountain views. Fitted Kitchen and Kitchen Lounge Balcony. *Plus Coveredand Parking & with Store-Room.*Walk Lounge with Balcony. *Plus Garage. *Close Garage. *Close to UCT, Schools, Shops to leading Schools, Jammie Shuttle and Transport. to UCT, Schools, Shops and Transport. Stop and Shops.
CONTACT: RHONDA C: 448 082 7795 448 7795 0212212 685 2212 E: rrpsales@mweb.co.za / www.rhondaraadproperties.co.za CONTACT: RHONDA C: 082 T: 021T:685 E: RRPSALES@MWEB.CO.ZA / WWW.RHONDARAADPROPERTIES.CO.ZA
100% OFF
YOUR FIRST MONTH RENTAL
STUDIO FLATS
Rental from: R1,100 – R1,700 pm Qualifying gross monthly income: R3,500 – R5,500 pm Unfurnished Water & utilities excluded Email: conradiepark@ownhaven.co.za
Call: 021 054 8588 | 069 332 5373
Available April 2022 * Studio flats in new Conradie Park social housing development
* Move in April, only pay from May when signing a 12-month lease for a studio flat * Max. 2 occupants per unit * T’s & C’s apply Contact us for viewing and applications:
Call: 021 054 8588
MODERN | AFFORDABLE | LIVING SOCIAL HOUSING IN THE HEART OF CAPE TOWN
To advertise in print, please get in touch with our representatives: PRINT ADVERTISING Cape Town & Gauteng Leigh Auret 074 991 3373 | leigh@property360.co.za Shevon Philander 078 422 4925 | shevon.philander@inl.co.za KZN & Gauteng Anne Reddy 082 828 0010 | anne.reddy@inl.co.za Larissa Marks 076 231 1089 | larissa.marks@inl.co.za
www.property360.co.za
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KLOOF / PADFIELD PARK LIVE THE LIFE YOU'VE IMAGINED
FROM R1 550 000 NO TRANSFER DUTY
JUST LAUNCHED OVER
50% SOLD
NEWLY BUILT 2 & 3 BED SECTIONAL TITLE HOMES KZN's Premier Over 50s Lifestyle Estate With over 50% of the estate now sold out, Greenhaven Estate recently launched 63 new sectional title opportunities in two new development phases. Available in six different size and layout design options, these spacious two and three-bedroom single-level units, feature contemporary country-style architecture, and a selection of modern finishes. From 24-hour security, natural wetlands, a Care Centre with assisted living facilities, and a clubhouse with a resort swimming pool, bowling green, gym, bar, and restaurant - Greenhaven Estate offers you a secure leisure lifestyle with everything you could ever possibly need right on your doorstep.
LEISURE LIFESTYLE ESTATE FOR OVER 50s
BOOK AN ESTATE TOUR / CALL 079 046 1441 / GREENHAVENESTATE.CO.ZA
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HOME LOANS Now is the time to find out how much you qualify for as the repo rate is at a record low. Celestine is always available to take your call and guide you through the process from application through to registration. She will pre-qualify you for a home loan before you start house hunting. A pre-approval is very useful when house hunting as it helps the agent narrow down which properties to show you and not waste unnecessary time. Complete one application and she will apply to all 4 major banks and negotiate the best interest rate on your behalf. Call her for quick and efficient service Please feel free to contact Celestine at any time on 084 559 1786 | celestine@property360.co.za
www.property360.co.za
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PRIME LOCATION IN FAERIE GLEN!! BOOMED OFF SKUKUZA STR!! HOUSE TO BE USED ALSO AS OFFICES & SPECIAL ZONING!! In liquidation: Brooklyn Properties South Africa CC, Master’s ref: T1722/21
ONLINE BIDDING: 12:00, 19-20 APRIL 2022 BID AND REGISTER: www.vansauctions.co.za
AUCTION OF 778 SKUKUZA STREET, FAERIE GLEN WEB21/0179
Extent: ± 1053 m² Zoning: Special (Residential, Pilatus, fitness school & small office component) Current improvements: (Double storey, ± 350 m²) Ground floor: - Large open plan lounge/dining area - 2 reception areas - 2 large rooms/offices - Small room, kitchen & toilet - Lockup double garage - Outside bathroom & storage room - Steel carport for 6 vehicles - Double steel carport and paved First floor: - 2 large office areas/rooms - Smaller room and large room above garage with aircondition unit - 3 bathrooms - 2 small balconies Granny flat: (± 45m²) - L-shaped room with large bathroom & small kitchen area AUCTIONEER’S NOTE: Large property with a lot of potential and well situated close to main routes and amenities.
R50,000 Registration fee. 10% Deposit. Bidders to register & supply proof of identity and residence. Regulations to Consumer Protection Act: www.vansauctions.co.za Rules of Auction to be viewed at 36 Gemsbok Street, Koedoespoort Industrial, Pretoria. Tel 086 111 8267 | Auctioneer: Anton Shand
BIDDERS TO REGISTER ONLINE, REGISTRATION FEE OF R50,000 PAYABLE VIA EFT ONLY, FICA DOCS REQUIRED TO BE ABLE TO REGISTER.
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HOME LOANS
Now is the time to find out how much you qualify for as the repo rate is at a record low. Celestine is always available to take your call and guide you through the process from application through to registration. She will pre-qualify you for a home loan before you start house hunting. A pre-approval is very useful when house hunting as it helps the agent narrow down which properties to show you and not waste unnecessary time. Complete one application and she will apply to all 4 major banks and negotiate the best interest rate on your behalf. Call her for quick and efficient service Please feel free to contact Celestine at any time on 084 559 1786 | celestine@property360.co.za
www.property360.co.za
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DOGON GROUP PROPERTIES Atlantic Seaboard Office 021 433 2580 thekings@dogongroup.com www.dogongroup.com
RHONDA RAAD PROPERTIES Cape Town Office 082 448 7795 Email: rrpsales@mweb.co.za www.rhondaraadproperties.co.za
SHELLEY RESIDENTIAL KZN Office 082 412 4463 Email: hello@shelley.co.za www.shelley.co.za
DOGON GROUP RENTALS Sea Point Office 021 433 2580 enquiries@dogongroup.com www.dogongroup.com
THE WOODLAND Umhlanga Office 081 281 3960 Email: info@woodland.co.za www.woodland.co.za
BALWIN PROPERTIES Ballito Office 084 788 1020 Email: michelle@balwin.co.za www.balwin.co.za
DOGON GROUP PROPERTIES Southern Suburbs, Claremont Office 021 671 0258
PETER MASKELL AUCTIONEERS KZN Office: 033 397 1190 Email: info@maskell.co.za www.bidlive.maskell.co.za
NOBLE RESORTS CAPE TOWN 010 612 6060 sales@nobleresorts.co.za www.nobleresorts.co.za
VAN’S AUCTIONEERS Gauteng Office 086 111 8267 www.vansauctions.co.za
WIDENHAM RETIREMENT VILLAGE South Coast, KZN 066 306 0669 / 066 306 0612 www.hibiscusrv.co.za
southernsuburbs@dogongroup.com
www.dogongroup.com
DOGON GROUP PROPERTIES Western Seaboard Office: 021 556 5600 or 021 433 2580 enquiries@dogongroup.com www.dogongroup.com
www.property360.co.za
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www.widenhamretirementvillage.co.za
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