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by Overseas Property Mall on Wednesday, January 27th, 2010 in South African Property
According to Absa Group, South African house prices rising at their fastest pace in 20 months in December left prices at the end of the year just 0.2% lower than at the start of the year.
That is not too impressive on its own; UK house prices rose 6.2% in 2009 according to Nationwide, and South Africa is meant to be one of the bright spots of this housing crash. It is; because in 2008, when UK and American house prices fell between 10 and 20%, South African house prices rose 4.1%. That means that South African house prices have risen 3.9% during the worst two years global property has ever seen.
by OP-Mall on Tuesday, October 21st, 2008 in South African Property
This year’s Dubai’s Cityscape saw a major announcement being made on the first day of the exhibition, when Ruwaad, a Dubai based real estate developer announced the development of Amazulu World, the largest of its kind multi-billion-dollar themed entertainment development in South Africa.
by Overseas Property Mall on Friday, March 7th, 2008 in African Property, South African Property
Continuing our quest for interesting properties for sale around the world, we came across this game ranch in Kalahari, South Africa. The ranch is 643 hectares in size and surrounded by a three meter tall “Game proof fence.” We take that to mean “Elephant proof,” so we’re not so sure that’s a viable claim, but it makes for interesting reading.
Included in the sale is a four bedroom house, along with four, thatched roof chalets. Also included is a Land Rover, 25 Eland, 45 Kudu, 22 Zebras, and assorted other animals – but disappointingly, no Elephants.
The company that owns the ranch, Phrima safaris, offer big game rifle and bow hunting safaris and an opportunity to “live Africa like you never thought possible.” The name Phrima translates from the local language as “place where the sun sets,” so if you are looking for a getaway at the ends of the earth, this would seem to be it. Amongst their hunting advice is the maxim, “use enough gun,” which sounds like good advice to us.
Their website is here, although if you are not fond of photographs of dead trophy animals, we suggest keeping away. If, on the other hand, you are, they have an interesting selection for your viewing pleasure. In the meantime, here are some spectacular photos of live animals in the Kalahari, shot by hvhe1.
Viviun is listing the property at a mere $320,000, which is negotiable.
by Overseas Property Mall on Tuesday, October 9th, 2007 in Brazil Property, Buying Property, French Property, London Property, Property Investment Strategies, South African Property
A Million Dollars. It certainly sounds like a lot of money. Just say it out loud: “A Million Dollars,” now say it slowly, “A Million Dollars.” It still sounds like a lot of money, but what will a million dollars buy in London, Europe or Africa or South America? As I began researching this article, the phrase, “One man’s meat is another man’s poison,” came to mind. Obviously, some countries vary widely from area to area, but here are some interesting properties for sale from around the world that all have the same price tag – A Million Bucks.
London. In London, one million bucks will secure a 3 bedroom flat in W6, a short walk from Hammersmith Broadway. This particular flat is offered by Foxtons and comprises one reception room, kitchen, three beds and one bath over 87 m sq. Leasehold with a share of the freehold.
by Overseas Property Mall on Friday, March 16th, 2007 in Commercial Property, European Property, German Property, International Real Estate Trends, Property & Real Estate Press Releases, Property Industry News, Real Estate Investment Trust (REIT), South African Property, South American Property, South-East-Asia Property, Trends, UK Property, United States Property
Global real estate investment has never had it this good according to the new Jones Lang LaSalle report “Moving Further and Faster”…
2006 experienced record level volumes of global real estate investment with a 40% increase in investments in 2006 from 2005 amounting to a record $900billion total investment. The lion’s share of global real estate investment continues to be traditionally commercial real estate which accounted for $682billion in 2006, a surge of 38% over 2005, and nearly double 2003 volumes.
Cross border transactions now represent 42% of total investment volumes which has grown by 34% from 2005 levels. Inter-regional investments grew from 23% in 2005 to 29% in 2006.
The breakdown of the $900 billion global real estate investment in 2006 is as follows:
According to the CEO of Jones Lang LaSalle’s International Capital Group, Tony Horrell, “Global real estate markets performed very strongly throughout 2006; it was the first year that all major developed and emerging market returns were both aligned and positive. Investment was driven by increased allocations to the asset class, growth in investible stock and by the increased attention of opportunistic private equity players who identified relative value in the sector. These increased flows into real estate gave rise to two notable phenomena in 2006 – an increasing number of ‘mega-deals’, and continued globalisation of the asset class.” Horrell also pointed out the collective rise of 240% (US£39billion) in Global funds invested in the US, UK & Japan.
Horrell added: “Germany’s relative attractiveness has increased significantly due to a unique combination of willing domestic sellers, underweight cross-border investors, positive yield spreads and a recovering economy. Japan offers investors exposure to a recovering economy and yield spreads of almost 200bps”.
According to Padraig Brown, Global Strategy and Research Director at Jones Lang LaSalle, “Emerging markets had a strong year with over $40bn of transactions recorded (up 74%). Many of these markets have appeared on investor’s radars only recently and are exhibiting exhilarating rates of growth, with the Russian market expanding by over 700% during 2006 and strong deal flow in China, Turkey, Mexico and Brazil.”
“Real estate fundamentals remain strong, with solid economic growth projected, vacancy rates remaining low in most major markets, and development pipelines remaining modest. Rental growth should help support recent yield compression, however investors should note that the pricing differential between prime and secondary product and markets has been lowered and ensure that risks are sufficiently factored into bid prices.”
Regional Highlights: Europe
Regional Highlights: North and South America
Regional Highlights:Asia
Read the full Jones Lang LaSalle report here. What are your thoughts about commercial real estate investments in 2007? Do you think they’ll surpass 2006 levels? The Jones Lang LaSalle report is quite optimistic about 2007.
We would like you to check out the new International Herald Tribune Real Estate Blog – Raising the Roof. And don’t forget to drop by our own overseas property forum, it’s new and needs your support.
by Overseas Property Mall on Friday, July 21st, 2006 in South African Property
The bursting of the property bubble in the US need not be followed by a similar collapse in SA says Michael Power, equity strategist at Investec Asset Management.
Speaking on Moneyweb Radio, Power said the danger of a US property meltdown lies in the extent to which our economy will be exposed.
He said if the bubble did burst, the knock-on effect would take time to play out across the world and it would ultimately affect South African through commodity prices.
“Commodity prices won’t hold up as much if US consumers cut back on their consumption,” he explained.
This will slow the rate of growth in China, negatively affecting their demand for our commodities.
American house prices have shot up in relative terms over the last few years and this is “an extraordinary perfect storm”, said Power.
He explained that loose monetary policy in the US had generated consumer wealth, which had fuelled demand for property. The property market kept up with this demand by building 2m to 3m new houses each year and the combination was dangerous.
A bubble has been created on which whole world, to some extent, is dependent on, he said. “We are all drunk on American consumerism.”
Rocketing house values enabled Americans to draw more and more money out of their homes to fund their expenditure and Power reckoned the Chinese have been the beneficiaries of this spending.
“The current account deficit of the United States has ballooned in line with the increase in spending, and it’s no coincidence that about $600bn has been taken out in home equity withdrawals and the current account deficit being just a little more than that.”
But there are worries that the bubble will burst.
Monetary policy is being tightened around the world, not just in the United States but also in Europe and Japan. Emerging markets are being regarded as higher-risk assets In the United States 25% of all houses are being bought by investors or by people looking for a second home. People are probably just starting to get a little scared at that sort of statistic, said Power.
Source: Moneyweb
by Overseas Property Mall on Thursday, March 31st, 2005 in African Property, South African Property
Expatriate South Africans are behind a rise in the number of online applications for mortgages, according to home loan facilitator MortgageSA.
MD Saul Geffen says there has been a marked increase in South Africans living abroad applying for home financing through the company’s Web site and call centres.
“Internationally, people have become very comfortable with buying things online through greater Web site security and the greater convenience of keystrokes over traffic jams and crowded shops.”
“And with the many excellent property Web sites showcasing South African property, increasing numbers of expats are comfortable buying property this way, then come to us for financing.”
He adds that the company receives dozens of enquiries a day – mainly from South Africans in London who plan to return to SA. Most buy in Cape Town and Johannesburg, but increasing numbers are buying in Durban.
Geffen says expatriates can typically secure up to 80% or 100% financing on a property, even though they work overseas.
“The client will provide us with their gross income earned overseas and we will do the calculation. Banks would typically lend an amount based on what the expat could earn in SA, which is often lower than what they would earn abroad.”
He says banks want to be assured that if expatriates return, they will be able to service the bond payments from their local income.
“We work with all the major banks and are normally able to find a great deal for the expat,”
Geffen says.
- from AllAfrica.com
by Overseas Property Mall on Wednesday, March 30th, 2005 in African Property, Internet Marketing, Mortgages, Online Start-ups, South African Property
In the wake of a global record holiday season online buying spree, South African property is the latest beneficiary of the rush towards cyber shopping. Saul Geffen, managing director of MortgageSA, the country’s leading home loan facilitator says: “We have seen a marked increase in South Africans living abroad applying for home financing through the MortgageSA website and through our call centres.
“Internationally, people have become very comfortable with buying things online through greater website security and the greater convenience of keystrokes over traffic jams and crowded shops. And with the many excellent property websites showcasing SA property, increasing numbers of expats are comfortable buying property this way — then come to us for financing.”
Geffen says the MortgageSA website is hosted on over 320 websites including being hosted on most major property websites.
Killing two birds with one stone
“Websites allow a property buyer to kill two birds with one stone; search for property and use online tools to calculate costs and affordability. Our marketing research shows that up to 25 percent of our web applicants are seeking our home loan application website via property websites.”
Geffen notes that MortgageSA receives dozens of enquiries daily — typically from South Africans in London who plan to come back to South Africa and settle down. Most buy in Cape Town and Johannesburg and increasingly, Durban.
Minimise the home loan process
“Expats are increasingly researching property and finance options via websites from overseas. They research their financial options very carefully and we provide them with all the information they need through our website and home loan calculator wizards. They come to companies like MortgageSA because they want to get a quick answer and minimise the hassle of the home loan process when applying through banks from afar.”
Expats can typically secure up to 80 to 100 percent financing on a property even though they work overseas.
Expats finding great deals on Overseas Property
“The client will provide us with their gross income earned overseas and we will do the calculation. Banks would typically lend an amount based on what the expat could earn in South Africa, which is often lower than what they would earn abroad.
A good example of this is the nursing profession. Nurses earn much more in Dubai than in SA so banks want to feel assured that if expats return, they will be able to service the bond repayments from their local income. We work with all the major banks and are normally able to find a great deal for the expat.”
150 000 home loans secured
Geffen says MortgageSA’s is successfully attracting expats because their website is easily accessible through major search engines like Google and is the only multilender mortgage application website in SA supported by a national call centre.
“We have now secured over 150 000 home loans for homebuyers and now a lot of our business comes from referrals from satisfied customers.”
“As we have a very well resourced call centre with specialised property finance consultants offering personalised service via telephone and on e- mail, we are able to build strong relationships internationally.”
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