TASHA Property Profesional

A new gas COC is now required - Property Professional Read up on the new required gas certificate of compliance

Property remains a good way to earn a passive income - Property24 By purchasing a residential property with the intention of renting it out to a tenant, you can grow wealth through your asset while someone else pays your mortgage.

“Local is lekker”, property and neighbourhood benefits of small businesses - Property24 The growth in small businesses in communities are creating jobs and driving a local economy, but are also a tremendous benefit for property as it adds character and desirability to neighbourhoods.

Interest rates are back at pre-pandemic levels after the SA Reserve Bank hiked rates by 75 basis points, for a second meeting in a row.

Three members of the monetary policy committee voted in favour of the 75 basis point hike, while two wanted a 100 basis point increase.

The move brings the repo rate to 6.25%, and the prime rate to 9.75%. On a new home loan of R2 million, this hikes the monthly instalment by more than R970.

Since November last year, monthly payments on a R2 million home loan are almost R3 400 more expensive due to a raft of rate hikes.

The latest rate hike was in line with economists’ expectations, and brings interest rates back to a level last seen in January 2020, before the Reserve Bank made steep cuts to bolster an economy in lockdown.

On Thursday, Governor of the SA Reserve Bank, Lesetja Kganyago, said risks to the inflation outlook are assessed to the upside.

"While global producer price and food inflation have eased, Russia’s war in the Ukraine continues, with adverse effects on global prices. Oil prices increased strongly from the start of the war, to around US$130 per barrel, and may rise again from today’s level as stresses in energy markets intensify. Electricity and other administered prices continue to present clear medium-term risks."

While the rate hikes will heap more pain on a distressed South African economy, the bank is under pressure to keep up with jumbo interest rate hikes in other countries, especially in the US, where rates were hiked by 75 basis points on Wednesday.

Global central banks are scrambling to hike interest rates amid an inflation shock, triggered by the invasion of Ukraine along with supply chain shocks and a labour shortage.

South Africa cannot afford to be left behind when it comes to rate hikes, otherwise the rand and local assets like bonds will lose their appeal to foreign investors, who are on the hunt for good returns. Foreign inflows are crucial to keep the rand stable. A stable rand is key to inflation, as South Africa imports almost all its oil, which is priced in dollars.

Source: News24

Hospitality holds promise for property investors – act now - Property24 Entrepreneurs, investors, and property owners should act on current opportunities in hospitality.

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Female first-time buyers now outnumber their male counterparts - Property24 Data released by Statistics SA in their 2021 report has highlighted the importance of financial planning for women and the necessity of securing their financial futures by starting to save as early as possible and making long-term investments to ensure their golden years are not their leanest years.

Is property still a good asset class in the current investment climate - Property Professional “Property investment is still the most reliable way to generate income over the long term,” is the advice from Yolanda Cornelius of Just Property Zululand and Dolphin Coast, to other property practitioners.

Suspensions on the cards for former EAAB personnel - Property Professional Various members of the PPRA are facing suspension with immediate effect following findings of a forensic report into irregularities and fraud at the now defunct EAAB released on Wednesday.

Our sincere condolences to the family, friends and countrymen of Queen Elizabeth II who passed away this afternoon in Scotland. Our thoughts and prayers are with everyone who held her dear in their hearts.

She was truly a remarkable woman who dedicated her life to the service of her country.
May she rest in peace 🕊

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