Prop360 - National Digital Magazine - 8 April 2022

2 0 2 2

RENTAL MARKET SHOWING POSITIVE SIGNS OF GROWTH PAGE 3

1 PICTURE: RICARDO GOMEZ ANGE/UNSPLASH

A P R I L

PROPERTY

360

8

2

8

A P R I L

2 0 2 2

UNDERSTANDING what you could be paying on your bond over the next while can prevent nasty surprises. PICTURE: RODNAE PRODUCTIONS/PEXELS

Repo rate vs prime lending rate explained

H

OMEOWNERS and buyers are continually being urged to manage their budgets, especially as interest rates are on the increase. But for many who eagerly watch the rate changes following the Monetary Police Committee’s meetings every second month, there may be some confusion about which rate they should actually be focusing on.

Is it the repo rate that South African Reserve Bank (SARB) governor Lesetja Kganyago talks about in his addresses or the prime lending rate that banks and economists use to explain how home loan repayments will be affected? How are they related and which will help homeowners plan their bond repayments?

The technical answer is both, as the repo rate – the rate at which the SARB lends money to the commercial banks – dictates the prime lending rate – the rate that consumers are charged when borrowing money. But, as FNB property economist John Loos explains, homeowners can make their lives easier by monitoring the latter.

“The prime lending rates of the major banks are almost always set at 3.5% above the repo rate. It does not have to be this way but has been for over 20 years. So, when the repo rate goes up or down, the prime lending rate, which in turn affects consumers directly, does too.”

There are a few days’ lag between the repo rate adjustments and the corresponding adjustments in prime by commercial banks, he adds.

“As a homeowner you can watch both rates in tandem, but your home loan repayment will ultimately be affected by the change in your bank’s prime lending rate, if your floating interest rate is linked to prime.”

The current prime lending rate is 7.75%, and FNB predicts that this rate will increase by 0.25% after each of the four Monetary Police Committee meetings left this year. This would make the prime lending rate 8.75% by the end of this year.

To break it down, Loos says the bond repayment on a R1 million home is currently R8 209, but by the end of the year, based on a prime lending rate of 8.75%, this will have increased to R8 837 – meaning homeowners will be paying R628 more than they are paying now.

On a new 20-year, R2m home loan at prime lending rate, consumers currently paying R16 419 a month will pay an extra R1 255 a month by the end of this year, taking their repayments to R17 674, should the prime rate indeed rise to 8.75%.

FNB expects the interest rate to stabilise next year at 9.25%. This would mean that owners of a R1m home could be paying R9 159 on their bond each month at the end of next year, an increase of R950 a month from what they are paying now on a new 20-year home loan at prime rate.

Owners of a R2m home could pay R18 317 by the end of next year, an extra R1 898 a month, compared to what they are paying now on a new prime rate loan, should FNB’s forecast materialise.

“We also expect, in the current interest rate cycle, that the prime lending rate will remain at 9.25% at the end of 2024.”

To assist homeowners with planning, Loos prepared the table opposite to allow them to calculate what they are likely to pay at different interest rates over the next three years. He emphasises, however, that these figures are indicative, and there may be slight differences between the table and actual home loan payments depending on how a homeowner’s bank calculates the effective interest rate.

Interest rates for dummies

Expert provides assistance to homeowners wanting to work out what they are likely to be paying on their bonds and plan for the future

8

Vivian Warby

Warm regards

Vivian Warby vivian.warby@inl.co.za FIND US US HERE: HERE: FIND

@iolproperty @property360.co.za @property360.co.za @iolproperty @property360_za @property360_za @iolproperty.co.za @property360.co.za @property360.co.za

@IOL Property

2 0 2 2

THE RESIDENTIAL market is already showing some improvement this year.

PICTURE: ATRIX/PIXABAY

Letter from the editor Letter from the editor

IF WE needed more evidence that the poor suffer the most in economic downtimes, we had only to look at recent Lightstone figures. almost every market AT While A RECENT meeting I found segment showed a positive upward it interesting that, when people trajectory (not by much, mind were talking about what wealth you), the market for homes under R250 000 shrunk drastically in meant tohas them, every single one the past few years.with owning equated wealth There are two schools of property. thought here. One is that things risingforcosts on many have With improved that sector, fronts, however, for some so people can hang on to theirit had homes, on to them and rent to be abuild choice between owning out the new section.

The aother is a property or building business property prices in that bracket have or educating their children. improved, knocking them out and is not over Owning the R250property 000 range.

And then always possible, there is thought thatand the yet, poorto do truly havegeta poorer. roof over your head you analysis the canWhatever call yourthe own is stillondesired.

Lightstone figures is, overall, the Due to our past, our country picture for the property market has seen manyfor people live to a is glum – except the market ripe old agehomes, never between having owned for mid-level R250 000deeds and R700 000, homes. which has the title to their recovered just above 2016 levels.

And oftentotheir children and In one of its latest reports, grandchildren today are working Lightstone, which provides data hard to ensure they create and analytics on property, says the generational wealth with back bricks residential market bounced last after a tough 2020, when andyear mortar. the market completely On thewas other hand, shut down for months. interestingly, we have the However, the low-value market world’s richest selling off (under R250 000)man has declined his property assets.years.

It has been significantly in recent Last year, 53 384 transfers reported that Elon Muskwere has registered, comparedleft to ainsix-year only one property his high of 82 985 in 2016. portfolio, which has gone on While there was recovery in and off the market a few times in other markets, the performance recentallmonths. across five bands is “poor to pedestrian, just the And, ofwith course, wehigh-level have a band performing positively”. growing issue of homelessness Hayley Ivins-Downes, head of involving people who may until have digital at Lightstone, believes had a home once, and who the macro environment improves, itdon’t is unlikely property now,the and othersmarket who have will recover although “there never hadeither, a home – whether have been pockets of resilience and rented, shared or otherwise. growth in certain geographical areas A recent late bloomer in and price bands”. theShe house market saysownership high-level transactions (R700 000I had to R1.5 million)I would were at myself, thought abe six-year high renter. last year, as were a forever That is until luxury transactions, and the superinterest rates started coming luxury market was not much short andhigh. monthly payments ofdown its 2016 The data, she on a home loan middle were no higher says, confirms class and than wealthier better the rent.homeowners With some are banks giving weathering the economic storm.

110% loans, it meant you could Talking to estate agencies, many also cover your transfer costs. in Cape Town and along the Atlantic So, I –took the leap.

Seaboard areas that are The seeing a fact that I owe theand bank a lot of surge of semigrants overseas buyers – had March.toRentals money, thataI good now have worry are also rates seeingand a gentle rise. about taxes, property However, with rising fuel and values and upkeep of the home, food costs, not to mention rising pales in comparison to the interest rates, whether the overall feeling will of owning markets improveproperty. or go back to their However, downward Islide of theif past five wonder property years will be something to watch. ownership is always going to We hope the government and be seen as the cornerstone of local metros do all they can to wealththecreation?

What dosoyou create right environment all think? can have, and keep, a roof citizens over Warm their heads, including looking regards at helping the micro developers providing rentals in the townships, and enabling developers of low-cost vivian.warby@inl.co.za and affordable housing.

Let’s see.

A P R I L

OFFICE property owners must optimise costs and income as much as possible by looking for innovative ways to generate revenue.

PICTURE: JIESUANG NG/UNSPLASH

Green shoots sector is inOffice the residential rental market still in doldrums

Landlords encouraged to beare innovative if their going to pay Flats and town houses likely to be mostinvestments in demand, are say experts BYBONNY BONNYFOURIE FOURIEbronwyn.fourie@inl.co.za bronwyn.fourie@inl.co.za BY

O T

of office HEWNERS RESIDENTIAL rental properties will have to market is starting to bounce getafter creative if theythree want back a difficult to dig themselves out of years – not a high bounce, their Covid-pandemic hole enough but some upward movement, to make their property investments nonetheless. work forCredit them.Bureau’s Residential TPN Right now, for saysthe John chief Vacancy Survey firstJack, quarter executive Galetti Corporate of this year of shows a “sharp decline” Real Estate, the office market in vacancies, which points to remains the “poor cousin” improved confidence and theof the commercial property industry as market starting to normalise. retail returns to news pre-Covid levels “This is good for landlords and have the industrial property sector who been battling consecutive has remained resilient throughout. quarters of de-escalation,” according “You can see evidence of this to the report. in your movements TPN’sday-to-day Market Strength Index – are in back in theterritory shops and ispeople also back positive at restaurants – butanyou maythreehave 52.9 points after almost noted thatin although is more year period negativethere territory. traffic, there isexplains: not as much as The report “The index was pre-Covid. isthere a measure of market supply “People are still hybrid working and demand of residential rental and thatMarket means equilibrium a significantis property. numberatof50offices vacant,” reached points,remain at which point Jack says. demand and supply are on an equal Although commercial property footing, indicating the potential for owners vacancy are usually affected reduced ratesless and rental by small interest rate hikes because escalations.” of lower gearingFNB ratescommercial – a financial In December, ratio that comparesJohn some form of property economist Loos owner equity (or capital) to funds predicted the interest rate increases borrowed by the company – they would probably spark a turnaround arethe affected GDPbut, growth or for rental by market although decline because this “directly the recovery would not be impacts vacancy and rental great, it would definitely be anlevels”.

“It’s the underlying tenants improvement. who more affected in their Heare said the rate decreases ownthe businesses thatofultimately over past couple years had determine where the pressure seen financially strong tenants will release.” buying their own homes while the Generally, Jack says, commercial remaining tenant population was propertyfinancially owners are under of the hard-hit because increasing through rising effects of thepressure pandemic lockdowns. rates and operating costs asrates, thesethe But, with rising interest “continue surge waytohigher opposite wastopredicted happen. than underlying escalations”.

This “Those aspirant first-time buyers effectively means larger market portiona may just wait in thea rental bit longer.”

of the is being attributed Loostotal alsorent expected to see some toward costsininstead of the base acceleration rental inflation, rent, “which what the although it tooiswould not landlord be large. ultimately wants”.

At the time, he said: “If rental He advises owners inflation reachesproperty 4% or 5% next to optimise costs andisincome, year (2022), which more or looking less forline non-gross lettable area revenue in with general inflation, then I where would possible. say it will probably do well.

I do “Cellphone not expect tomasts see a and pipingadvertising boards good hot rental market butare a significant examples of this. improvement from where it has tech where possible been“Deploy recently.” to reduce the people onthe siteTPN’s The upward trend in managing a building.”

Demand Strength Index is likely Because lockdown forced to assist landlords to recover from companies to accept a remote below-inflation escalations that workforce was not only viable, have negatively impacted returns but in could years, also deliver recent it says.improved cost and“However, productivity efficiencies, while the lower says Malusi Mthuli, provincial national vacancyKZN rate has recovered headthe at FNB Commercial Property from double-digit vacancy rates Finance, the–conversion of first seen in 2021 13.31% in the commercial spaces into residential quarter of 2021 compared to 8.26% units, although a new– trend, in the first quarternot of 2022 it has is also for to office property owners yet toone return the pre-pandemic to consider. level of 7.47% achieved in the first Oneofof the driving forces quarter 2020.” behind trend, heperspective, says, is the Fromthis a provincial factvacancy property funds continue to the rate is “mixed” with offload large portions their of the continued growth inofsupply officehousing stock, “which now rental in somemost provinces considera less viable from a returns limiting return to pre-pandemic perspective than properties in most vacancy levels. other sectors”.

The report states: “Fortunately, this offloading • In Gauteng, a surplus of additional of office spacestock is somewhat rental housing is slowing the serendipitous given the significant province’s vacancy rate recovery. upswing in According to demand Stats SA, for the wellformal located residential properties rental housing market increased in that align with thetochanging Gauteng from 40% 48% in 2020. lifestyles of an evolving The province is home working to nearly population.” half of all South Africa’s tenants.

Mthuli says prices of isempty Its slower rate of recovery being office blocks lower rate thanof exacerbated byare a higher ever, buildings and the costs office beinginvolved converted in converting themaccommodation are “far into rental housing than building them from aslower” commercial real estate remains scratch, especially from a utilities under pressure.

“On the up side, however,

infrastructure viewpoint. that have negative rental escalations local governments arethe been“And a trend in the province for actively seeking opportunities past five consecutive quarters areto partner with developers back in positive territory.” to leverage residential •inner-city In the Western Cape, projects tenant as a way of addressing growing demand continues its positivesocial housing backlogs.” trajectory and is reverting to the However, pointslevels out last historically lowhe vacancy investing in and conversion seen in 2016 2017. projects is notThe an percentage automatic of ticket to riches. rental “As with any to property properties relative the percentage development, in any sector, of total households is stable, caution isan required.” indicating increase in ownerProperty entrepreneur and occupied properties. chief executive of Frankie “Rental escalations have Bells been Real Estate Grant Smee believes under pressure in the Western whilesince many landlords wantoftoonly Cape 2019.

It was one meet residential there are two provinces thatdemand, experienced factors that should bethan considered de-escalation for more four before proceeding. consecutive quarters, from the might a third“While quarterone of 2020 to have the second structure or physical building, quarter of 2021.

Encouragingly, it’s still important weigh rental escalations aretoback in up whetherterritory the property lends itself positive in 2022.” conversion.” bucks the declining •to KwaZulu-Natal He suggests that the following vacancy rate trend with a sharp factors are considered prior to increase in vacancies in the first investing: quarter of this year to 13.26% from Location: Most the properties 9.34% in the last of quarter of last year. converted fromthe office to of residential This is probably result the are in areas where is demand continued impact ofthere the July civil for residential easy unrest and riots and which ledaccess to higher to amenities. and the closure of unemployment It needs to feel like home: some businesses.

“While home “Priormany to thepotential pandemic, KZN had will be attracted to theto abuyers lower vacancy rate compared prospect of average.” living in a business the national district, the property still Loos predicted thatwould flats and, have to feel like home. to a lesser extent, town houses, “Itbe needs comfortable, would mosttoinbedemand by quiet, spacious tenants this year.and inviting, with easy to shops, restaurants “I access don’t think freestanding and walking houses will be routes. in major demand.

If the is right: You need We are structure still in a financially to weigh upenvironment, the costs of so building constrained smaller renovating an rates existing isoff-plan better asvsyou save on the bill property.

You also need and maintenance costs, alltoofconsider which parking, the rental property’s size and are built into value.”

He said properties in the middle

what’s available in 000 the to area in000 the price segment of R7 R12 price bracket. asame month – and possibly a little above notes that sought while many that Smee – would be most after. landlords still want to reinvent Although some landlords might vacant properties, are be getting desperate,there says Grant hoteliers who entrepreneur are also looking Smee, property and to get in on director the action. managing of Only Realty, “Such partnerships are placing a tenant in your vacant designedmight to fulfil needs all property helpthe curb youroflosses parties involved. in the short term, “but putting the “The tourism sector still not wrong tenant in can have isa lasting up to speed and accommodation negative effect”. forIn travel remains seasonal.”all the addition to performing The current pressure necessary checks to ensure on youoffice find owners is also tenant, being he aproperty reliable and respectable revealed in the number of new says, landlords should: building plans being In passed for Always communicate: suchwhere properties. cases the tenant already Johnthe Loos, property sector occupies property, be sure to strategist at FNB communicate and Commercial put everything in Property Finance, says while writing.

Remain calm and rational non-residential statistics should somethingbuilding go wrong and showed “positive growth” forand seek advice from estate agents January, in square metres of lawyers where necessary. building plans by passed, officeDon’t Don’t be fooled fast cash: space and completions fall intoplanning the trap of accepting a weresum the of “key drag” on overall large cash upfront in lieu of non-residential building levels, regular rental payments. remaining low they compared to Just because have the pre-lockdown levels. money now, doesn’t mean they’ll plans passed declined have“Office it in four months’ time when by next 17.9% year-on-year the payment is due.in January 2022 off a where very low Don’t rush: In cases the base a year prior.” tenants are dragging their feet about He the sayslease, the low level signing don’t loseofhope. planned new office space Try your best to clearly developments,perform despiteall some communicate, the recent growth, not surprising, necessary checks,isanswer any with office vacancies nationally questions they may have and at record spend a fewlevels. days mulling over the your“Employment decision beforenumbers jumping in into economic sectors aoffice-bound lease agreement. haveyour declined since like lockdowns Trust gut: Much any started in 2020, greater levels relationship, if something feels of remote the future, off whenwork you’reare engaging withand efficient use oftrust office space amore prospective tenant, your through the ‘hoteling’ of desk instincts. space is a keycan factor too.” but Paperwork be forged your intuition is rarely wrong.

DISCLAIMER:The Thepublisher publisherand andeditor editorofofthis thismagazine magazinegive givenonowarranties, warranties,guarantees guaranteesororassurances assurancesand andmake makenonorepresentations representationsregarding regardingany anygoods goods DISCLAIMER: servicesadvertised advertisedwithin withinthis thisedition. edition.Copyright CopyrightANA ANAPublishing.

Publishing.AllAllrights rightsreserved. reserved.No Noportion portionofofthis thispublication publicationmay maybebereproduced reproducedininany anyform form ororservices withoutprior priorwritten writtenconsent consentfrom fromANA ANAPublishing.

Publishing.The Thepublishers publishersare arenot notresponsible responsiblefor forany anyunsolicited unsolicitedmaterial. material. without PublisherVasantha VasanthaAngamuthu Angamuthuvasantha@africannewsagency.com vasantha@africannewsagency.comExecutive ExecutiveEditor EditorProperty Propertyand andEnvironment EnvironmentVivian VivianWarby Warbyvivian.warby@inl.co.za vivian.warby@inl.co.za Publisher FeaturesWriter WriterBonny BonnyFourie Fouriebronwyn.fourie@inl.co.za bronwyn.fourie@inl.co.zaDesign DesignKim KimStone Stonekim.stone@inl.co.za kim.stone@inl.co.za Features

3

4

8

A P R I L

2 0 2 2

P R O P E R T Y NEIGHBOURHOOD retail centres can be a great investment opportunity for property buyers. PICTURE: PXHERE

Low interest rates see first-time buyers rise

T LOCAL SHOPPING CENTRES BETTER OFF THE RECENT tight economic times have seen big retail centres experience a reduction in income from rents, turnover and profit.

This has led to a loss of tenants, growing vacancies and further reductions in profit. However, community retail centres have not experienced this to the same degree, says Gregg Huntingford, chief executive of Spire Property Management.

“Neighbourhood retail centres cannot be beaten in terms of convenience.

Consumers living in the nearby suburbs will frequent their local centre almost daily to purchase household goods and groceries, enjoy a cup of coffee or a meal, and use services offered, such as a laundromat or hairdresser.”

He says these smaller centres do not struggle as much with vacant space as the larger centres do, because the rents are more affordable as they often operate on a gross rental structure rather than a turnover-based structure.

“This is appealing to entrepreneurs and smallbusiness owners who are often daunted by the high costs associated with renting retail space in a large shopping centre.

Because of this, smaller retail centres hardly ever see vacancies, and tenant turnover is very small.”

However, Huntingford cautions that the tenant mix in a community-based

retail centre needs to be well planned if the centre is to flourish.

“Shops and services need to be matched to the affluence levels and the needs of the surrounding neighbourhoods. Offerings such as gyms; garden centres; pet shops; health and beauty salons; art galleries and family restaurants with outdoor play areas are all examples of tenants that are not easily accommodated in large shopping malls but which offer a shopping experience in line with what consumers want.”

He says experience has shown consumers increasingly want a shopping/retail experience so smaller centres can remain relevant by offering amenities that fulfil this.

“Worth noting is that, as certain urban nodes and suburbs grow and evolve, we often see a demographic shift in residents within the surrounding areas.

“A shifting demographic can mean the local retail centre no longer meets the requirements or needs of its customers. The answer is that centres need to evolve and look at their tenant mix to ensure they are offering local customers what they need.

“All of this sees neighbourhood retail centres being a great investment opportunity for property buyers who are looking to add to their commercial portfolio.”

N E W S

HE NUMBER of first-time buyers has been edging upwards in the past four years, as a percentage of transfers, following years of consistency in the market, says Mike Lehabe, head of financial services at Lightstone.

First-time buyers were steady at 32% to 33% from 2014 to 2018, then edged up to 34% in 2019, before jumping to 37% in 2020 and last year.

“The historically low interest rates which the SA Reserve Bank introduced in response to the economic fallout of Covid-19 certainly spurred buyers into the market.”

Nevertheless, he says, the rise of first-time buyers in percentage terms must be seen against the total numbers of transfers drifting downwards from 2015 to 2019, with a sharp drop in 2020 as the hard lockdown took a toll on the market.

The jump in numbers last year in part reflects the pent-up demand playing out as lockdown conditions eased.

Repeat buyers have reduced in both percentage terms and actual numbers. In 2015, about 270 189 transfers were recorded, of which 181 026 (67%) were repeat buys. In 2019, just prior to the pandemic, repeat buyers had slipped to 162 688 (66%) of total transfers.

Lehabe says the volume of bonded transfers for both first-time and repeat buyers has increased since 2015, with a slight decrease in 2020.

“First-time buyers are more likely to need a bond than repeat buyers, with the percentage of bonded transfers increasing sharply from 2017 and peaking at 72% in 2021.”

He adds first-time buyers on the coast have

been choosing the Western Cape as their preferred option since 2014 and this trend spiked last year as the market began recovering from the lockdowns of 2020.

“Favourable interest rates, coupled with remote working and semigration, are becoming a more pronounced feature of the residential market and the Western Cape’s reputation for better-run municipalities is also contributing to the pull of the region,” Lehabe says.

First-time buyers of inland properties overwhelmingly bought in Gauteng, he says.

“Again, it is worth noting the spike in 2021 as first-time buyers took advantage of the historically favourable interest rates and the market adjusted for 2020, when hard lockdowns brought house sales to a trickle for a while.”

THE WESTERN Cape has been the preferred coastal province for first-time buyers for years. PICTURE: MATTHEW DIX/UNSPLASH

Patience, financial d iscipline vital

RATHER save up to pay the upfront costs of buying a home than take out additional credit.

PICTURE: STEVE BUISSINNE/PIXABAY WHEN purchasing a property, many buyers focus on whether they can afford the purchase price but fail to consider whether they can cover the various upfront costs involved in the purchase, such as transfer duties and bond registration fees.

There are several financing options available to buyers who do not have those funds readily available, but Adrian Goslett, regional director and chief executive of Re/Max of Southern Africa, says the best option is to wait until you have enough saved to cover

these costs without taking out any additional forms of credit.

“While there are several financing options available, including personal loans or 105% home loans, any form of credit to cover these costs will just amount to higher monthly debt repayments and money lost due to interest charges.

“This becomes especially worrying under the current economic circumstances where inflation is shrinking households’ disposable income levels and interest rates are climbing, making debt more expensive.”

Instead of taking out further loans, those who already own a home could leverage the sale of the home to afford the costs of buying a new home. If the money from the sale of the home has already been received before the homeowner has put in an offer on a new home, buyers can simply use that cash to cover the bond and transfer costs on the new property.

Those who still need to sell the property to pay

for the new home could opt for bridging finance before their home is sold, says Carl Coetzee, chief executive of BetterBond.

“This is a short-term finance option that can be quickly and easily arranged. You are advanced a portion of the money owing to you from the sale of your property, which bridges the gap between your current cash shortfall and your future payout on registration of transfer.

“With bridging finance, the money is advanced almost immediately and you pay it back when the transfer goes through. This affords you the financial freedom to pay for things such as conveyancing and transfer fees; municipal rates; taxes and levies or even renovation costs.”

While there are many options available to buyers who need to cover the upfront costs of purchasing a home, Goslett stresses that patience and financial discipline are still your best bet to enjoy greater financial freedom.

BUYING PROPERTY WITH A FRIEND? MAKE SURE YOU HAVE A CONTRACT

JOINT buying is a popular way for young people to get a foot on the property ladder but it does have risks. PICTURE: ALLGO/UNSPLASH

MANY people want to invest in property but not everyone can afford to buy a house, apartment or piece of land.

Co-ownership for investment purposes is, therefore, a good way to get on to the property ownership ladder. However, it is not something to jump into blindly, says Skoko Sebola, principal at Leapfrog Midrand Owning property with a friend, sibling or other family members can be tricky, although it is becoming a popular way for younger people to get into the market.

“It’s becoming increasingly difficult for young people to secure the capital needed to own their own homes. This is why we’re seeing more of them go into co-ownership with a loved one, a friend or business partner.

“It’s a good starting point and, after the initial payments and fees, often works out the same as renting a place together.”

But, he says, you need to sign a co-ownership contract if this is the route you are going.

“A lawyer will be able to assist. A contract will detail payment arrangements, what happens in the event of a sale, what happens if one owner dies or is unable to pay. This is just a snippet of what needs to go into a co-ownership agreement.”

Sebola adds several people can co-own one property.

“Of course, the more people you have involved, the less profit you get in a sale and the more admin there will be in the ownership process and when making decisions on what to do on the property.”

PICTURE: BRENO ASSIS/UNSPLASH

8

A P R I L

2 0 2 2

5

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

084 460 7295

sherine.budhram@inl.co.za

TO ADVERTISE IN WESTERN CAPE Abigail Wilmot

083 212 1141

abigail.wilmot@inl.co.za

TO ADVERTISE IN GAUTENG Antoinette Gilbert 083 793 5382

antoinette.gilbert@inl.co.za

6

8

A P R I L

2 0 2 2

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

8

A P R I L

2 0 2 2

7

8

8

A P R I L

2 0 2 2

8

A P R I L

2 0 2 2

9

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

10

8

A P R I L

2 0 2 2

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 R1,595 MILLION RONDEBOSCH R5,3 MILLION RONDEBOSCH RONDEBOSCH R2,6MILLION MILLION R1,15 MILLION ROSEBANK R1,695 MILLION RONDEBOSCHR1,795 R2,5 MILLION 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.

ONSHOW SHOW SUNDAY 2 -2-5PM 5 PM ON SUNDAY Woodlands, 5 Highstead Road, Rondebosch.

Rondebosch. *Grotto Mews, 2 Grotto Road, Small Complex above the Main PrimeSecurity Position!

North-Facing Two Security Complex above Road.

Security Complex Above Main Main Road.

Two Road.

Large modernised Bachelor Charming North-West facing Two Bedroomed Bedroomed Apartment with Lounge Bedroomed, Two Bathroomed Duplex converted One with Bedroomed Apartment Apartment (98m²) withFitted Lounge leading to leading toto Balcony.

Kitchen and Apartment (91m²) Fitted Kitchen open (46m²) with Kitchenette, Built-in Balcony with Superb Views!

Fitted Kitchen Shower Bathroom. *Lock upCupboards Garage. to Lounge and north-facing Balcony. *Two and Shower Bathroom with*Walk Sep Toilet.

Walk Balcony.

Shower Bathroom.

Walk to Walk to Jammie Shuttle, UCT, Shops Undercover Parking Bays. to UCT, to UCT, Jammie Shuttle, Shops &Transport.

Transport.

UCT, Jammie Shuttle, Shops & Transport.

Gym, Restaurants, Shops and&Transport.

BY D L O

US

ON SHOW SUNDAY 2-5PM

*Woodlands, 5 Highstead Road, Rondebosch.

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

8

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

A P R I L

2 0 2 2

11

12

8

A P R I L

2 0 2 2

The depictions herein are for illustrative purposes only and are subject to change without notice.

PARADI S E UN COV ERED.

ICONIC. UNMATCHED. OUT OF THE ORDINARY. WELCOME TO 19 ON TORQUAY Without compromising on luxury, 19 on Torquay simplifies modern life with a refreshing approach to lock-up & go living. The peak of exclusivity, this idyllic new 4 home development in Claremont Upper is the finest balance of leading-edge security, privacy, and curated design.

Wrapped in chic glamour, 19 on Torquay offers residents a unique blend of upmarket suburbia with everyday city access, an uncompromising urban oasis connected to the best Cape Town amenities. Here, life is a series of unlocking one-of-a-kind experiences, the perfect balance of serenity and indulgence.

Close to the M3 and the M5, Claremont feels intimately connected to greater Cape Town, yet offers every needful thing right there on your doorstep. As ultimate hideaways of unrivalled comfort framed by the dramatic peaks of Table Mountain, this energetic paradise is waiting to be uncovered. Priced from R11.995 Million (VAT Incl. - No Transfer Duty).

At last, paradise.

Paul Upton +27 (0)71 610 8088 paul@dogongroup.com The depictions herein are for illustrative purposes only and are subject to change without notice.

FFC NO: 0525859

8

A P R I L

2 0 2 2

13

F R ESN AY E - R 7.9 9 9 MIL L IO N E XC I T I N G N E W R E L E A S E

EXCLUSIVE

Web Ref: RL12102

CR I S P - CLEAN AND I MMACUL ATE - JUST MOVE I N

This “new” modern light and bright low maintenance 3 bedroom home is bursting with delight and is situated in a sought-after Avenue within easy walking distance to the Promenade, Shops, Shuls and Herzlia Weizmann School. This spacious home boasts a wonderful flow from the entertainment areas. 2 Secure garages, storerooms and tastefully finished with newly laid engineered oak wooden floors. Delightful views of Lion’s Head. This home ticks all the boxes and must be seen

STEPHEN COHEN 082 600 5335

SEA POI NT - R 3.89 9 M I L L I O N

MICHELLE COHEN 082 321 7871

HEAD OFFICE 021 433 2580

C O N STA N TI A - R 7. 8 MIL L IO N

GRE E N P O IN T - R 3.995 MI LLI ON

NEW RELEASE

Web Ref: RL12082

Web Ref: RL12078

H I D D E N G E M ON TRE N DY SE A PO IN T STR I P

Come view this spacious, newly renovated 3 bedroom apartment situated on the top floor, with the most tranquil ocean and mountain views from your living room

LESLEY 061 439 8225

LEAH 082 608 3388

THREE ANC HOR BAY - R 4 .6 M I L L I O N

Web Ref: RL11897

S PACI OUS WELL -MAI NTAI NED FAMI LY HO M E

C OM P LE T E LY R E N OVAT E D APAR TM E N T

This large ranch style 5 bedroom home offers a great indoor, outdoor flow with a well-established garden and parking for up to 8 vehicles plus double garage

Situated in a secure & well-established complex directly opposite Green Point Park This 2 bedroom is perfect for investors, young couples, professionals & more

SIMONNE 082 392 2669

MATTHEW 083 645 4583

GINA 084 222 0099

N EW L A N DS - R 5.95 MIL L IO N

EXCLUSIVE

MODERN & SOPHISTICATED

Web Ref: RL11923

Web Ref: RL12074

MO UIL L E P O IN T - R 1.78 MI LLI ON

EXCLUSIVE

“A R AR E FI ND NE X T TO SACS ”

SIMONNE 082 392 2669

Web Ref: RL11912

I M M AC U L AT E LOCK-U P AN D GO ST U D I O

This luxury apartment spans over 2 floors with 2 spacious bedrooms, open-plan living area with a separate guest cloakroom. Excellent security & 1 parking bay

Beautiful townhouse nestled in sought-after Newlands right across the best schools in the Cape. 4 Bedrooms, 2 bathrooms, excellent security plus garage

Beautifully renovated, fully furnished and equipped. Modern finishes throughout Secure underground parking bay. Close to MyCiti bus route & V&A Waterfront

SERRYN PRYTZ 082 770 7680

NADIA RAPITSE-HURLING 061 256 0020

JAMES CURTIS 082 485 2702

d o g o n g r o u p . c o m A visionary company with decades of experience

14

8

A P R I L

2 0 2 2

8

A P R I L

2 0 2 2

15

2 X PROPERTY AUCTIONS SHELLY BEACH 5 BEDROOM BEACHFRONT HOME ZONED FOR FLATS

On Site Auction

9 BEDROOM MULTI USE HOME

On Site Auction

3 - Bedroom Home

3 - Bedroom Home

1 - Flatlet

3 - Flatlets

1566sqm

1407sqm

25 Edward Street, Shelly Beach, argate

211 Jocelyn Street, Shelly Beach, argate

11:00am | On Site

15:00pm | On Site

5 May 2022 For more information contact: Greg King - 084 556 6166 www.auctionone.co.za 10% DEPOSIT, AUCTIONEERS COMMISSION & ADVERTISING COSTS PAYABLE ON THE FALL OF THE HAMMER. Deposit & Fica Documents Required to Register. Full terms & conditions of auction are available for inspection on our website.

Subject to change without notice. Right of admission Reserved.

16

8

A P R I L

2 0 2 2

ON-LINE TIMED AUCTION

8

A P R I L

2 0 2 2

17

TENDERS ARE INVITED on the 19 April 2022 @ 12noon bidlive.maskell.co.za

Duly instructed by the Liquidators;Trustees and Curator Bonis in the matter Maverick Trading 608 CC(In Liquidation) ref No: D000214/2020; Insolvent Estate Johannes van der Walt t/a Suredent ref No:N000221/2021; Ukumba Brick and Quarry (Pty)Ltd(In Liq) ref No: N000219/2021; NPA vs TI Zulu Project D600 Case no. D8410/2020; NDPP vs Zainudeen Abrahams Case number: D2250/2020; NPA vs Mafu Lelatsa Case no D6059/2020; Coinit Trading Pty Ltd(In Liq) Ref.: N000252/2019 ; Pristine Mineral Water CC (In Liq) ref:D000019/2021

Bidding OPENS on 19 April @ 12noon & CLOSES from 12noon 21 April 2022 URGENT ON-LINE TIMED including SCREEN PRINTING MACHINERY AND ASSOCIATED EQUIPMENT including Mimaki TS 300P-1800 Printer; Automatic heat press; MHM 6-Station Wire Format Screen Printing Machine etc. - 2019 Mitsubishi Fuso Canter FE7-136TD - 2015 JEEP GRAND CHEROKEE 6.4SRT A/T compressors - Dental Equipment - John Deere Ride on Lawn Mower - 2.5 Ton Pallet Jack - 2 Ton Engine - office furniture etc - 2000 Mitsubishi Colt L200 P/U S/C etc.

VIEW DAYS: 13th and 14th April 2022 from 9:30am to 3:30pm For more info contact 033-397-1190 │BUYER’S CARD DEPOSIT: - R10,000.00 FOR MOVABLES AND R30,000.00 FOR VEHICLES │ STRICTLY BY EFT PAYMENTS ONLY │ FICA TO BE PROVIDED │ “ABOVE SUBJECT TO CHANGE WITHOUT PRIOR NOTICE” “E & O e”

TIMED ONLINE AUCTION on the 10 May 2022 @ 12noon bidlive.maskell.co.za

Duly instructed by the attorney in the matter of Rokwil Civils (Pty)Ltd Case ref No: 11678/2021P; Liquidators in the matter of Ukumba Brick and Quarry (Pty)Ltd(In Liquidation) Master`s ref No: N000219/2021; Greystones Enterprises(Pty)Ltd( In Liquidation), Master`s Number: D000212/2020

Bidding OPENS on 10 May 2022 @ 12noon & CLOSES from 12noon 12 May 2022

ON-LINE TIMED AUCTION OF CONSTRUCTION PLANT AND EQUIPMENT including

Dozers: 2015 Komatsu D85EX-E14 Dozer -2007 Caterpillar D6R STD III Dozer-2005 Caterpillar D6R III STD Dozer- 1998 Caterpillar D11R Dozer - 2 x Wagner CHD Chip Front- End Dozers Excavators : 2013 Hyundai ROBEX 520LC-9S Excavator 2 x 2012 Hyundai Robex 1200-9 Excavators - 2 x 2012 Hyundai Robex 800 LC-7A Excavators-2009 Hyundai Robex 800 LC-7A Excavator 2008 Hitachi Zaxis ZX 670LCR-3 Hydraulic Excavator - 2007 Hitachi Zaxis ZX 670LCR-3 Hydraulic Excavator - 2011 Hitachi Zaxis ZX 870LCR-3 Hydraulic Excavator - 2 x 2015 Caterpillar 320D2L Excavators - 2008 Hitachi Zaxis ZX 200-3 Hydraulic Excavator 2008 Hitachi Zaxis ZX 244-3 Hydraulic Excavator Smooth Drum Rollers : 4 x 2015 Bomag BW 219 D-4 Smooth Drum Rollers Other: Volvo ADT; CAT 938G Front end loader- Bell hauler etc.

For more info contact 033-397-1190 or IAN on 072-616-1304 or CHRIS on 072-199-5603 │ BUYER’S CARD DEPOSIT: - R30,000.00 │ STRICTLY BY EFT PAYMENTS ONLY │ FICA TO BE PROVIDED “ABOVE SUBJECT TO CHANGE WITHOUT PRIOR NOTICE” “E & O e”

18

8

A P R I L

2 0 2 2

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

A G E N T S ’ D I R E C T O R Y

A P R I L

2 0 2 2

360

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

19

PROPERTY

8

www.widenhamretirementvillage.co.za

20

8

A P R I L

2 0 2 2

Have you discovered these digital magazines yet?

Click here to read our magazines now.

To receive all our FREE digital magazines directly to your mailbox, email iol.magazines@inl. co.za with the word Digital.

Advertising Sales queries: Charl Reineke | charl.reineke@inl.co.za