Local and International Property News
BLR brings to you the news that affects your property investment.
THE HOUSING MARKET
Experts still agree that the housing market is a secure and still growing investment option. Rentals properties have increased in demand and if you are looking for a secure investment opportunity, the "purchase to rent" is a sound move.
Property prices have remained static for the past two years, but we expect the market to shift forward from next year (2012) onwards. The propblem is that Banks are still reluctant to give loans. Especially to First-Time Buyers.
But now is the time to put you money into "Brick and Mortar", as you will see you property value rocket, as the recession comes to an end.
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BUILDING REGULATIONS
Did you know that new legislation requires your attorney, if buying a property to ensure that all the structures on the property all have necessary planning permissions (if required). If not retrospective planning must be obtained! So do not fall in this trap, before you make an offer have a home survey completed. It will give you peace of mind. And Sellers do not put your property on the markety with illegal structures, you are not only wasting your time, but also your prospective Buyer!
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HOUSE SWAPPING - THE NEW TREND IS OVERCOMING THE HOUSING RECESSION IN EUROPE
Did you know that as the property market in Europe is in a freeze, smart buyers and sellers are going the House Swap route, you sell your house or get the property you want, without the hassle of open selling through estate agents. The only prime consideration is that both properties have professional valuations. Then it is only short-falls to the final agreed price needs to be financed, if required.
Smart, Clean and very efficient. Think about it it makes sence! Especially if you are emigrating to SA or moving from one province to another within SA.
Ther are two properties that will consider property swops with the UK (or Cape Town):
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FIRST-TIME BUYER - ENSURE YOU CAN GET THE BOND!
Many first-time buyers have their property objectives the wrong-way around. Find the property and then look for the finance. WRONG. First-time buyer should seek a pre-approved Bond prior to viewing any property. This stops the annoying "Cannot Get a Bond" situation, which annoys the sellers as well. But if you have a pre-approved Bond you will have greater negotiating power on any potential properties you may wish to put an offer on. Also you will know your purchasing limit.
