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.
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…
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.
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
That building is not just a place where you live or work. It is also a piece of artwork. Designed, planned and then constructed with delicate care.
Here is a tribute to beautiful architecture. <–Click to see more images!
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.
Diepkloof Square community centre is reporting strong and growing trade less than six months after opening on 29 November 2012, bringing quality community shopping to this iconic Soweto suburb.
This 15,772sqm shopping centre is in the heart of affluent Soweto, where it meets the daily shopping needs of one of the wealthiest township suburbs in South Africa, in an exciting setting within a growing community.
Diepkloof Square provides a mix of quality retail in a smart setting with a modern design. It gives local consumers easy access to tailor-made convenience shopping anchored by Pick n Pay and featuring 45 stores including the first Food Lovers’ Market store in Soweto.
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.
Situated between Signal Hill and the Atlantic Ocean, Sea Point is one of the most densely populated and vibrant suburbs of Cape Town.
Residential property in the area has become more sought after, which has led to a surge in the property values. Adrian Goslett, CEO of RE/MAX of Southern Africa, says that due to the number of high-rise developments, sectional title units outnumber freestanding homes by approximately nine to one.
According to Lightstone figures, the area is popular among all age groups and buyer types with around 30 percent of recent buyers aged between 50 and 64 years old, 28.57 percent aged between 36 and 54 years old, 24.76 percent aged from 18 to 35 years old and 16.57 percent, 65 years old or older. He adds that the largest percentage of existing owners (35.03 percent) are from the 65 years old and older age group and account for 37.33 percent of those who have recently sold their property.
After a number of years where some African countries have generally focused on attracting investment, developing infrastructure and creating jobs, a number of countries are now turning their attention to tax collection in an effort to supplement their state coffers.
With donor funds coming under pressure amidst the debt crisis, tax authorities are “waking up” and introducing more stringent legislation, says Steven de Backer, director – Africa Group at Webber Wentzel.
“I don’t think this is a bad development – I think countries should tax companies making money in a country, but now a balance needs to be found,” he says.