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Category Archives: News
Co-Working Trend in Cape Town
Cape Town’s CBD is seeing a rise in coworking, a trend that describes consultants, freelancers and entrepreneurs sharing office space.The numbers of young entrepreneurs choosing to be based in the central city is climbing, attracted by the vibrancy of the CBD, cost effectiveness, readily available office infrastructure, convenience and the knowledge, sharing and networking opportunities. read more…
Costs of running the Cape Town Stadium – R436 million
The City of Cape Town released the costs of running the Cape T own Stadium – R436 million since construction.
While it is the perfect venue for rock stars like Bon Jovi and younger new comers like Justin Beiber – the Cape Town Stadium is losing Cape Town mass amounts of money.
Since construction completed in 2009 until June of this year, 2013, operating costs were projected at more than R300 million.
However, Deputy mayor Ian Nielson’s office said the figures were incorrect.
At the time Kevin Jacoby, chief financial officer for the City of Cape Town, said the financial results for the various financial years were presented unclearly.
He would review the report and present it at the next finance portfolio committee meeting.
The new figures were presented on Monday. And instead of being less than the disputed figure of R300m, the new total is R436m.
Friday Funny
Self Employed = Difficulty Securing Property Loans
Compared to a full time employees - a self employed individual will have a much harder time securing a loan from the banks for the purchase of property. The paperwork requested by the banks could drown you and the turn around times are stunted by the meticulous checking by the banks. This is understandable to a degree – but does being self employed really indicate a much higher risk for the banks?
The banks see a self employed individual as having a “lack of guaranteed income” – but in today’s economy no one has a guaranteed income and a self employed individual could lose their income as easily as an employee.
Buy Local or Global?
The question investors are asking themselves on a regular basis is should they purchase property locally or globally? Which would present the better investment?
Global valuations, when compared to our local valuations, are much stronger – but does that mean the return will be better?
Here we take a close look at the returns and fall backs of each option to allow you to decide for yourself…
read more…
Industrial UnEmployment
South Africa’s unemployment rate is not headed in the right direction.
A rise from the last quarter of 2012, which saw unemployment at 24.9% – pushed unemployment to 25.2%
In reality, these percentages translate to an additional 100,000 people without jobs, without an income to feed their families. That brings the total unemployed number of working aged people in South Africa to a whopping 4,6million.
Farmer Sabotages Road
Farmers and the community surrounding the farmers should be able to live in harmony, but it would appear that on a certain farm, Channells Farms, that is not the case.
Allegedly the farmer, Mr Bruyns, decided to dig a trench that was 3m deep and 5meters wide – effectively blocking the communities access to a short cut that lead through his farm to the local village where the elderly collected their pensions and the children went to school.
Due to the trench blocking their path – the elderly and the children were forced to walk an alternate route of 70km. …read more
Industrial rentals rising, but we’re not out of the woods yet
The South African Property Market is on the Up and Up according to Property valuer Erwin Rode. He states that the yearly growth of industrial rentals has slowly been on the rise, a very good sign for companies across South Africa.
On a national basis, the yearly growth in industrial rentals is slowly heating up, seemingly benefiting from the lagged impact of declining vacancy rates. “In fact, such has been the acceleration in the growth of market rentals in this sector that in the fourth quarter of 2012, prime rentals recorded a nationally averaged growth rate of 7%, with the strongest yearly growth of 9% being achieved in the Cape Peninsula.” Disappointing, however, is that the national average still failed to be in excess of building-cost inflation. “Hence, we are not yet out of the woods,” cautions Rode.
Credit regulator withdraws recognition of debt-counselling bodies
THE National Credit Regulator (NCR) has withdrawn its recognition of several organisations in the debt-counselling and payment distribution industry, along with its recognition of their codes of conduct.
The NCR said the rationale behind its decision was to be able to exercise direct regulatory oversight over the complaints resolution process and service providers’ commitment to combat overindebtedness.
Research by the University of South Africa (Unisa) and insurer Momentum released this month shows South African households’ overindebtedness amounted to R106bn. That means households are at least two months in arrears with credit payments.
Figures from the Reserve Bank show the local banking sector’s total exposure to unsecured credit was R400bn in the fourth quarter of last year.