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ASSESSING PROPERTY VA L U E S PA G E 3 PICTURE: JULIA KUZENKOV / PEXELS

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Getting an up-to-date valuation from a variety of reputable estate agencies will ensure you are able to price your property accurately.

A low offer is better than no offer Buyers who are open and honest with their agents are more likely to find the right home - and at the price they can afford BY BONNY FOURIE bronwyn.fourie@inl.co.za Q: I am planning to sell my property. How can I get the right valuation and, therefore, the best possible price? A: The first step for anyone even vaguely considering selling a property should always be to get an up-to-date professional valuation. Better yet, get two or three of them, from a variety of reputable estate agencies. That way, you have solid confirmation that you’re in the right price ballpark and can start getting to know a few agents who might be a good fit to handle your sale. Valuations can provide very useful insight into the skills and

experience of an agent. A good valuation should include hard market data and statistics, as well as more intuitive information, based on an agent’s hands-on experience with buyers, sellers and the market in your area. Price recommendations should always be supported by a comparative market analysis showing exactly how a property compares to its competition. If an agent can’t or won’t deliver this level of detail, I would be very wary of taking the professional relationship further. – David Jacobs, Gauteng regional sales manager for the Rawson Property Group

Q: We are looking to buy a property and, while we want to be fair with any offers, we also need to ensure we do not pay more than we have to. What aspects should we be aware of that can add to or detract from a property’s value? A: Schools and universities are a big priority and buyers will pay more for such a location. Additionally, the size of the accommodation and land and style of the home play a role. It is, for example, easier to sell a three-bedroom than a twobedroom home but anything above four bedrooms will not sell for a higher value. The condition is also a factor. Buyers pay more for a wellmaintained and modern home because most do not want to have to do any work on it. Levies can also be a dealbreaker. The levies in some complexes make a home there unaffordable for buyers and sellers then have to be more accommodating with their asking prices to compensate. Neglect and poor maintenance and outdated finishes will most certainly impact the value. It will also be affected if the neighbourhood is poorly maintained or has a high crime rate. Security has become a top priority for buyers, so if you live in a neighbourhood with community safety initiatives, consider joining them because, aside from a proactive role in keeping your neighbourhood safe, it also ensures property values are not negatively affected by crime. – Gerhard van der Linde, managing director for Seeff Pretoria East Q: I am working with an agent to buy a property but she has asked for

very detailed financial information. Is this normal? A: Being 100% honest with your real estate professional means that your agent can show you homes that you should be able to afford, even if the initial asking price is beyond your budget. Estate agents usually know the sellers and can tell if they would be willing to accept a lower offer. If you’re honest with your agent, she can then recommend an amount within your budget that the seller would be willing to consider. An agent can only narrow down the search and pinpoint the perfect property based on the information that you provide. If you work with an agent you trust, and are comfortable sharing information with, the process will be far easier and quicker. When you start searching for a home, it is best to be as upfront as possible with your real estate professional. This approach will guarantee that you leave a satisfied new homeowner. – Adrian Goslett, regional director and chief executive of Re/Max of Southern Africa Q: What does it mean to “refinance my home” and how does it work? A: Refinancing means taking out a new home loan for the difference in value between your property’s original purchase price and its current estimated value. This extra money can then be withdrawn to pay off more expensive debt like credit cards or personal loans or be kept as equity in the bond. One of the main benefits of refinancing is the opportunity to secure a better interest rate than on your original bond. This can effectively reduce monthly

repayments (assuming the equity is not withdrawn), making it a valuable tool for homeowners struggling with cash flow. However, it’s important to note homeowners will have to cover the refinancing costs, including bond registration fees, legal costs, VAT and deeds office levies. Your bond originator can help you assess whether the short-term costs are worth the potential benefits of refinancing. It’s not a one-size-fits-all solution, so it’s important to discuss the options as they relate to your specific circumstances. – Leonard Kondowe, national admin hub manager for Rawson Finance Q: With interest rates at their lowest levels in decades, and a huge choice of inventory at the moment, quite a number of home buyers and investors are making really low offers to purchase in the hope of picking up property bargains. How should I, as a seller, deal with low offers? A: Rather than taking offence and immediately rejecting these offers, sellers need to take a deep breath, recognise that they are (in most cases) only intended as opening bids in a negotiation, and get ready to make counter-offers as that negotiation proceeds. Sellers should take the view that even a low offer is better than a total lack of interest because it has a potential to lead to a satisfactory outcome – if handled correctly by a qualified agent with excellent negotiating skills. And, of course, they always retain the right to accept or reject any offer at any stage before the sale agreement is signed. – Berry Everitt, chief executive of the Chas Everitt International Property Group


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Letter from the editor CLOSE friends spent a lot of time arguing with the municipality over the municipal valuation of their home. It was way over what it should be, they argued – and lost – with the consequence they were forced to pay higher municipal rates than they regarded as necessary. And the home is now on the market for at least 35% less than the municipal valuation because, as we all know, real value is based on what a buyer is willing and able to pay. Estate agents with a keen eye and who know the areas in which they work, are easily able to tell a seller what they can expect in the market. In some cases I’ve known some sellers to stick to their guns, and refuse to lower the asking price to what the agent says their property is worth. For sellers the issue is critical. They may need a certain amount of money to buy something else, or they may truly believe their home is worth more than the agent’s assessment because of all they have put into it. Some may have overcapitalised on renovations and others may find it hard to part with a beloved property. Hard-headed sellers can be the bane of estate agents’ lives, with properties languishing on the market until the seller lowers the price. Sadly, in today’s economy many sellers need to make a quick sale, and buyers may be surprised that their cheeky offers are accepted. And then there is also the subjective valuation that happens when a prospective buyer walks into a place and falls in love, willing to sign on the dotted line even if they have to pay a whopping price. It takes all types to buy a home, and while valuations are vital, sometimes no matter what you think something is worth, the heart wants what the heart wants – and it’s not always a bad thing as property has often been shown to be one of the best investments you can make. Warm regards

Vivian Warby vivian.warby@inl.co.za

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Assessing what a home is worth can be complicated There is often a yawning gap between the market and municipal values of the same property. Experts explain why BY BONNY FOURIE bronwyn.fourie@inl.co.za

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ROPERTY values are often a contentious issue, not only insofar as how rates are calculated but also the price a home sells for and what a buyer might be prepared to pay for it. There can also be differences in the value assigned to a property by the local municipality and the value given by an estate agent. Erwin Rode, managing director Rode & Associates, says in terms of the Municipal Property Rates Act, the municipal value of a property must reflect the market value. However, as these are mass valuations, one would “not expect an accurate estimate at all times”. Residential estate agents arrive at their valuations by gut feel which, he says, could result in fairly accurate value estimates if they have been specialising in a particular area or they use comparable sales as a guide. “Often, they use a combination of the two.” How closely aligned the market and municipal valuations are depends on a few factors, Rode says, one of which is the quality of municipal valuations. “These are often far below market value because the valuer wants to avoid appeals against the valuations. An important metro in the north of South Africa was a case in point until its latest general valuation, when this discrepancy was set right. “Also, where a valuation is done by an outside firm, the municipality’s supply chain committee normally has no experience in valuations and tends to award the tender to the cheapest bid.” The quality of the estate agent’s valuation is also a factor to consider. “Valuation is not an exact science and even where both the municipality – or its outsourced service provider – and the estate agent are competent, differences

The neighbourhood in which a property is situated has a significant impact on its value.

in opinion are inevitable.” David Jacobs, Gauteng regional sales manager for the Rawson Property Group, says agents arrive at their valuations via various means, the most important of which are: • Size of the property. • The property’s fixtures and finishes. • The property’s location – proximity to schools, public transport routes, hospitals, police stations and other amenities. • Comparative market analysis. “Estate agents’ values are determined by a physical viewing of the property, and the understanding of the property’s offering, combined with a comparative market analysis,

whereas a municipal valuation is not based on a viewing but on a standard number of square meterage and does not include the quality of furnishing and fittings.” Jacobs says that, more often than not, the real estate valuation is “slightly higher”, as it takes into account more of the property’s characteristics than does the municipal valuation. Echoing this, Kgomotso Sebakwane, head of analytics and valuations at FNB private bank lending, says municipalities do not have the luxury of visiting homes individually to measure the size or number of bedrooms or judge the quality of the finishes inside them. “Municipalities use the data

sources of sales available to them and apply an average property rate to each property within a suburb. And so the average homeowner will find that their property’s market value can be very different from the municipality’s.” An estate agent, on the other hand, has access to the property data in the suburbs that they operate in and, as part of their work, they intimately understand the characteristics of a home, whether it’s the size of the kitchen, the number of rooms or the quality of the finishes. “Given that they observe what people are willing to pay, they have the ability to gauge the value at which a property will sell,” Sebakwane says.

What factors determine value? FOR RESIDENTIAL property, the most important drivers of value are location; floor area; quality or age of the building and finishes and the condition of the building, says Rode & Associate’s Erwin Rode. Negative factors include noise, for example if the property is near a busy road or under the flight path of an airport. “Location would include the local crime situation and proximity to work opportunities. In low-cost areas, one presumes proximity to reliable public transport is also a factor. “When using the comparablesales method it is, of course, crucial to use sales that are truly

comparable.” The neighbourhood makes a “huge difference” to the value and growth prospects of a property investment, Rawson’s David Jacobs says, adding that proximity to schools, public transport routes, hospitals, police stations and other amenities is also considered. “This is usually incorporated when an agent does a comparative market analysis” Factors that can drive down a property’s value include the quality of the property’s infrastructure – such as if it is old and unmaintained and needs a lot of work, or situated in a notorious neighbourhood, an inconvenient

location, a remote or crime-filled area or even on a busy road with constant traffic noise. “One thing modern buyers are unwilling to compromise on is security. If there is no basic security, or the security system is not up to date, that can also contribute to lessening the property value,” Jacobs says. The factors that contribute the most to a property’s value, though, says Kgomotso Sebakwane of FNB, is the amount of living space available. “Different people value different things, but having the option of an extra bedroom will always add value.

“Beyond just the pure functional aspect of a home, the quality of finishes adds extra appeal to a property.” Any major structural or cosmetic defects, however, detract from the property’s value. “Whether it’s a crack in the wall, rising damp or peeling paint, the potential home buyer lands up staring at a potential problem that they will need to fix. “Whatever the quoted cost of repair, the potential home buyer will always subtract more from the value of a property based on the uncertainty of even more repairs. People tend to double discount when they see anything wrong.”

DISCLAIMER: The publisher and editor of this magazine give no warranties, guarantees or assurances and make no representations regarding any goods or services advertised within this edition. Copyright ANA Publishing. All rights reserved. No portion of this publication may be reproduced in any form without prior written consent from ANA Publishing. The publishers are not responsible for any unsolicited material. Publisher Vasantha Angamuthu vasantha@africannewsagency Executive Editor Property Vivian Warby vivian.warby@inl.co.za Features Writer Property Bonny Fourie bronwyn.fourie@inl.co.za Design Kim Stone kim.stone@inl.co.za

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Municipal property valuations are undertaken by professional valuers.

How municipalities arrive at values for properties Officials from Cape Town and Joburg explain the process BY BONNY FOURIE bronwyn.fourie@inl.co.za PROPERTY owners often have concerns about the municipal values placed on their investments and this is never more evident than when the General Valuation Rolls (GVR) are published. Homeowners often appeal against the new values – on which their monthly rates bill will be based – some with justification and others without. This is often a result of not understanding how the value was arrived at. Officials from the cities of Cape Town and Joburg share how their valuation processes work: City of Cape Town’s Louise Muller, director valuations Q: How does your municipality work out a property’s value? How are these values calculated? A: The valuation is determined on the market value at a particular date in the valuation cycle. Thus, for the 2018 GVR, the valuation date was July 2, 2018. The valuation of residential properties on the GVR 2018 was mainly derived from comparable sales data of an area. Valuations are done by professional valuers and the city’s valuation roll is audited by an independent body. The city understands property values are not static and therefore ensures that independent property valuations are carried out regularly to ensure the rates charged reflect the most current market values. This ensures all residents, regardless of when they purchased their properties, are paying rates reflective of the most recent valuation and all valuations are reflective of the market conditions at one particular date.

Q: How do estate agents arrive at their property valuations? Opinions of estate agents are generally not viewed as market evidence of the property valuation as these are indications of what potentially could be achieved but is not a final sale value. It may give a property owner an indication of the valuation of the property but it must be noted estate agents work on a daily basis, while all city valuations are representative of market conditions on a specific date and are based on specific comparable sales. Q: How closely aligned are estate agencies’ values and the municipality’s? A: Municipal valuations are based on the analysis of current market trends and the attributes/features of the properties being valued, as well as comparable sales of properties. Estate agents’ values indicate an estimated value that a property may achieve in an open market, where there is a willing buyer and a willing seller, as at the current conditions when the valuation is requested. Q: What factors are taken into consideration when valuing a property? A: Valuation is a highly technical process. The methodology depends on which type of property is being valued. But, in this case, it is assumed the emphasis is on residential properties. The most acceptable method of valuing residential properties is by direct comparable sales method analysis. This will entail

comparing the subject property with prices of recent sales of similar properties in a particular area. Attributes such as sizes of erf, improvements, condition, quality, accommodation, location, finishes, accessibility, view and security etc, are all taken into account and analysed. Property valuation principles are internationally recognised. It is also important to note that there are different methods of property valuation, depending on the type of property that is being valued. Q: What factors add to a property’s value? A: Factors that determine the value of a property are both external and internal. External means economic factors and market conditions at the time of valuation and internal includes features and attributes of the property itself, such as location, size of erf, improvements, condition, quality, finishes, accommodation, security, view, accessibility and proximity to amenities. Q: What factors detract from a property’s value? A: These will be the same as mentioned above but will be inferior to average standard in a particular area. Specific area attributes, such as high crime or close to amenities, will also impact on value. City of Joburg’s Nthatisi Modingoane, deputy director of communications Q: How does your municipality work

out a property’s value? How are these values calculated? A: The value of a property is determined in terms of section 46 of the Municipal Property Rates Act 6 of 2004 as amended.“Subject to any other applicable provisions of this act, the market value of a property is the amount the property would have realised if sold on the date of valuation in the open market by a willing seller to a willing buyer.” There are several types of properties in the municipality – residential, sectional title, nonresidential and agricultural. Each type is valued on a different basis, although they all relate to market value: • Residential property and sectional titles – the comparable sales method. • Commercial property – income basis. • Institutional properties – cost basis. It should be noted when a property is valued it should relate to a valuation date: The date of valuation refers to the date at which property values are determined and fixed for the purpose of the GVR. For the GVR 2018 the date of July 1, 2017 was set as the valuation date. Q: How do estate agents arrive at their property valuations? A: The estate agent also uses the comparable sales method of valuation. However, the difference will be in the date of valuation. For example, if the agent values the property today, he will use sales that have recently happened. The same property valued for

the GVR 2018 would have been valued using sales around July 2017. Therefore, the difference in value will relate to the different markets. Q: How closely aligned are estate agencies’ values and the municipality’s? A: The municipal valuation will stand for the period of validity of the valuation roll, which is four years, whereas the agent value is as at today. Therefore, at the end of a valuation roll period, the difference in time can be four years. Q: What factors are taken into consideration when valuing a property? A: For residential properties this would include the size of the dwelling; outbuildings and other improvements; condition of improvements; quality of improvements; view; security; location of the property relating to schools and shops etc. On business properties this includes potential rental income, expenses, condition of building, location and quality of finishes. Q: What factors add to a property’s value? A: All attributes as above where it is positive, such as good finishes, good location (close to all amenities). Q: What factors detract from a property’s value? Q: All attributes as above where it is negative such as dilapidated finishes, bad location.


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PICTURE: ROCKY WARBY

What’s new in KwaZulu-Natal TO ADVERTISE HERE Anne Reddy

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Larissa Marks 0 7 6 2 3 1 1 0 8 9 advertising@property360.co.za

anne.reddy@inl.co.za larissa.marks@inl.co.za w w w. p ro p e r t y 3 6 0 . c o . z a

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We’re Roper & Associates, a property valuations firm B-BBEE Level 2 based in KwaZulu-Natal, South Africa. Our team offers a full-service property valuation solution for clients in these sectors:

Residential

Industrial

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Refer to our website for your property valuation solutions. Our extensive database of research means our professional valuation reports are fully motivated, adding to the credibility of our opinion as well as providing reliable, valid property valuations.

+27 31 207 8009 | valuers@roper.co.za | www.roper.co.za


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SOLE MANDATE

WATERFALL R1 169 000 2 BEDS | 2 BATHS (MES) | OPEN PLAN LIVING | PATIO | CARPORT EASY LIVING For first time buyers or young professionals. Located in well run, family and pet friendly complex close to shopping, medical, library and excellent schools. Modern kitchen with granite surfaces and gas hob, garden fenced in front and complex has pool, children’s playground and communal braai area. Call PIXIE on 073 353 0881 for an appointment to view • Web Ref: 4538392

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PRIME ESTATES ON SHOW SUN 2 - 4:30PM

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ABSOLUTE BARGAIN!! All newly painted - nothing to compare in the area. This double-storey cottage was originally thatch - now covered, but retains thatch character. Downstairs has 2 bedrooms (bic’s), a full bathroom, open-plan granite kitchen and cosy living area with fireplace. Upstairs is spacious enough for 3rd bedroom plus lounge or office. All set on level ½ acre with room to build a large home. Boards from Waterfall Robots to Crestholme Drive. To view, call ANN 072 425 9411 • Web: 100872177

RETIRE IN STYLE - POPULAR GREEN MEADOW COUNTRY ESTATE At last - a 2 bed garden apartment!! Modern with loads of extras - this end unit has a stunning Caesar-stone kitchen, large living area, with enclosed sun-lounge, 2 large beds, bathroom with shower, dbl vanity and heated towel rails. A 2nd toilet, clear-view burglar strips & fitted blinds are extras. 2 Carports, a lock-up storeroom, garden on 2 sides. Superb facilities include heated pool, Clubhouse, library, clinic sister, hairdresser. Fibre & DSTV connections. Call DEBBIE 082 903 2024 • Web: 109653290

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UNBELIEVABLE VALUE... 4/5 BEDROOM FAMILY HOME ++ SEPARATE 2 BED COTTAGE Seeing in believing..... this is a large family winner!! MAIN HOUSE has 4/5 bedrooms, 2 bathrooms, 2 lounges, separate dining room, large gourmet kitchen, 2 covered entertainment patios overlooking level established garden with pool. Double garage & tandem carport. COTTAGE has large open plan lounge/granite kitchen, 2 bedrooms and 1 bathroom. Single auto garage & carport. Call AMANDA 079 528 0942 VIEW BY APPOINTMENT

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HIGHBURY SCHOOL AREA - FREESTANDING - LOW LEVY! Super-secure Estate. This fully tiled home has just been freshly painted inside & out, and the large driveway newly tarred. 3 Beds, 2 baths (new en-suite), large open plan granite kitchen, double auto garage and a fully walled garden. 2 Small dogs allowed, no cats. Walk to all amenities. Call DEBBIE 082 903 2024 • Web: 109099251


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KLOOF / PADFIELD PARK LIVE THE LIFE YOU'VE IMAGINED

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OVER 50s LEISURE LIFESTYLE ESTATE NOW SELLING OFF-PLAN 2 & 3 Bedroom Sectional Title Units Now selling off-plan, in a variety of different size and layout design options, Bushwillow Valley IV offers 16 two and three-bedroom sectional title units in the heart of Greenhaven Estate. Featuring contemporary country-style architecture, these spacious, single-level units come with an open-plan design and a selection of modern finishes.

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ESTATE AGENTS A special offer to

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What’s new in the

Western Cape

PICTURE: VIVIAN WARBY

TO ADVERTISE HERE Margi Marsland 084 591 9122

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SA MIXED-USE BUILDINGS SET TO BE RADICALLY REDEFINED

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First of its kind development launches on the Atlantic Seaboard A totally unique, luxury mixed-used development has launched on Cape Town’s Atlantic Seaboard that is unlike anything else yet seen in South Africa. This exciting, future icon development, called Station House, is set to redefine what people look for in mixed-use buildings, as well as the future of inner-city living. Located at 19 Kloof Road in the heart of Sea Point, one of the most desirable and growing areas of Cape Town, Station House is a 12-storey architectural masterpiece, that when completed, will feature 230 meticulously appointed luxury apartments, ranging from studios to one-beds, twobeds and micro units - with prices starting at only R1.595m VAT inclusive.

“Give me a reason to leave the building.” The development will also feature 15 facilities within one address. A boutique hotel - providing investors an alternative property asset option within the Atlantic Seaboard - a signature Pick n Pay supermarket, a street-front deli bar and restaurant, a private-residents lounge with braai areas, private rooftop residents pool, a dedicated pet park, an outdoor kinetic gym, yoga studio, a business centre with meeting pods, as well as an open-to-the-public sky bar, swimming pool and restaurant - all of which will enjoy incredible views of the ocean, Lions Head and the city scene.

The depictions herein are for illustrative purposes only and are subject to change without notice.

Paul Berman, CEO of Berman Bros Group explains that he and his brother grew up in the exact spot where Station House is being developed and have a very personal history with both the site and the area. “We are extremely excited about this project. We had plans and hopes for the site for many years, but it took years to acquire all the surrounding properties and consolidate them to make up the now considerable 3000 square metre parcel of land on which the Station House development will stand.” Saul Berman, Director of Berman Bros Group, said that “Station House will change the way people think about life, work, and play. We have partnered with the best minds in the SA property industry, and innovation will take us - and Station House residents - to the next level.” “The design of Station House is absolutely world-class and cutting edge - it is a piece of architectural art in a very pivotal and strategic position as you enter Sea Point. We worked with architectural firms Vivid Architects as well as Inhouse Architects and we believe that Station House will elevate the entire Sea Point area - as a rising tide lifts all boats,” says Berman.

“Sleep small, live large.”

The depictions herein are for illustrative purposes only and are subject to change without notice.

Marketed by Dogon Group Properties and developed by Berman Brothers in partnership with D2E Properties, Station House gives residents everything they need within their own space. As a lock-up-and-go lifestyle solution, Station House is a home, a workplace, a retail space and an entertainment venue, all in one.

The Berman Brothers and Robin Magid, Director of D2E Properties, explain that they set out with the goal of making the apartments at Station House as affordable as possible, to try and assist people in the rental market to convert their rental obligations to similarly priced bond installments, and get onto the property ladder.

“Station House offers great investment opportunities for keen purchasers. There is no development of this quality on the Atlantic Seaboard and with demand for well-priced property continues to escalate, coupled with the low interest rate environment, we have curated a development that speaks to a new market,” says Magid. “Our ‘sleep small, live large’ concept will be fully embraced by the future residents of Station House. The building will capture the strong sense of community that Capetonians enjoy, while offering the majestic views and sites that contribute to the city’s global appeal.” “This beautiful and modern Station House development has a distinctly international feel that is in tune with global trends and influences and brings a new lifestyle concept to Sea Point,” says Alexa Horne, MD of Dogon Group Properties. “This exciting building will stand as a design icon on Cape Town’s Atlantic Seaboard, allowing buyers to invest and live in a distinctive space within the bustling hub of one of the world’s most beautiful cities. Station House is close to the vibrant and cosmopolitan high street of Sea Point, known for its eateries and shopping experiences. The popular Promenade with its outdoor gym, small beaches and the Sea Point pools is within walking distance.” “Dogon Group and Berman Brothers’ ongoing commitment to bringing cutting edge projects to market is showcased in Station House. This luxury mixed-use building will set a benchmark and redefine the design of mixeduse developments in South Africa. It offers a wonderful opportunity for those who wish to buy-to-live or those looking for a premier investment opportunity in the most desirable location,” concludes Horne.

HEAD OFFICE 021 433 2580

d o g o n g r o u p . c o m A visionary company with decades of experience


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NEW RELEASE

NEW RELEASE

Web Ref: RL11167

M A Y

NEW RELEASE

Web Ref: RL11175

Web Ref: RL11186

SERENGE TI EXECUTIVE SUITES

HILLSIDE HEIGHTS

This unique 2-bedroom penthouse is in pristine condition, sea facing with views of both of the harbour and mountain. 2 Parking bays and excellent security

1 Bedroom apartment with recently renovated bathroom and kitchen. Enclosed balcony which could be used as a study. 1 Parking bay and good security

With sensational views, this apartment, with its monochromatic interior offers 2 beds a full bath & an open-plan kitchen, lounge which spills out onto a spacious balcony

NATACHA NEUBURGER 083 449 9933

GAVIN GOLIATH 082 963 0000

KEAGAN JAMES 082 902 8202

GREEN POINT - R 3.2 M I L L I O N

V R EDEH O EK - R 3.95 MIL L IO N

BAN T RY BAY - R 3.8 MI LLI ON

NEW RELEASE

Web Ref: RL11133

NEW RELEASE

E XC L U S I V E

WELL LOCATED & GORGEOUS APARTMENT

NEW RELEASE

E XC L U S I V E

Web Ref: RL11166

L ARGE LOFT APARTMENT IN VREDEHOEK

Web Ref: RL11171

SOUGHT-AFTER “ THE BANTRY BAY”

Warm and brightly renovated 2 bed apartment could not be better located & has a tranquil setting overlooking evergreen trees & some mountain views. 1 Parking bay

This 120m2 open-plan loft apartment is on the top floor and comes with a fully fitted kitchen with integrated appliances. 2 Bedrooms, 2 undercover p/bays & storeroom

Stylish 1 bedroom apartment with glorious views. Additional separate study/guest room and open-plan luxury living. Excellent security, 1 parking bay and storeroom

ALISON ROBB 082 956 9506

DUNE TANCREL 084 358 4910

JANE JONES-GIBBS 072 467 2611

VRED EH OE K - R 2 .4 5 M I L L I O N

PA R K L A N DS - R 95 0 0 0 0

S E A P O IN T - R 2.499 MI LLI ON

NEW RELEASE

Web Ref: RL11165

NEW RELEASE

E XC L U S I V E

GOT TA LOVE THEM IN TWO ’S

Web Ref: RL11185

E XC L U S I V E

HURRY THIS IS FOR YOU IN PARKL ANDS

E XC L U S I V E

Web Ref: RL9945

GREAT VALUE

This 78m2 open-plan apartment is on the 1st floor & comes with a fully kitted out kitchen. 2 Bedrooms with 2 undercover parking bays

Modern 2 bedroom apartment for sale in the heart of Parklands. A walk away from all amenities and easy access to public transport. 1 Garage and security

Boasting with an open-plan lounge, dining and kitchen area with high ceilings 2 Bedroom, 1 bathroom in quiet one way road. What more could you ask for

DUNE TANCREL 084 358 4910

NATALIE KOCH 082 393 8923

LEAH SLEIGH 082 608 3388

Rentals 021 433 2580 A visionary company with decades of experience


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PRICED FROM R1,189,000 TO R1,269,000 INCLUDING TRANSFER & BOND REGISTRATION FEES. R10,000 DEPOSIT.

Third Phase NOW SELLING, Burgoyne Heights located in a secure complex in Richwood with electric fencing offering 18 quality 55sqm-66sqm apartments on 1st, 2nd & 3rd Floors comprising of two well sized bedrooms with laminate flooring & bics, one bathroom with shower, WC & vanity basin. Open plan granite kitchen with choice of white or black splashback and gas hob, electric oven & extractor. Plugs with USB points. Tiled living area with ceiling fan leading out to well sized balconies with built-in braai. Prepaid electricity, gas & water. 15/18 Apartments with storage units included. 1 Parking bay. Optional extra’s available. DSTV & Fibre ready. Situated in close proximity to the new Richmond Corner Shopping Centre, Canal Walk, De Grendel Wine Farm amongst a few to mention, main highways & on the Tygervalley Road as well as close to all other amenities. 5 Year NHBRC Warranty. LEVY: +-R1,100 - +-R1,300 pm. Commencement Date: June 2021 Estimated Completion Date: January 2022. * Rental Assist Option on 10 Units listed at R1,229,000 T&C’s apply enquire within.

Barbara 082 693 9443 / barbarai@just.property


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EvERytHinG yOu nEEd tO knOW abOut OccuPatiOnal REnt Never heard of Occupational Rent, or unsure of its purpose in your property sales contract? You’re not alone! According to David Jacobs, Gauteng Regional Sales Manager for the Rawson Property Group, the Occupational Rent clause is one of the most frequently misunderstood parts of property sales agreements. “Occupational rent is actually a very important part of a property sales contract, offering protection to both the buyer and seller in case of unexpected changes to the transfer timeline,” he says. Here is everything you need to know. Ownership vs Occupation Ownership and occupation of a property are not the same thing. Occupation takes place on a specific date agreed on by the buyer and the seller. Transfer of ownership, on the other hand, can be affected by conveyancing challenges or delays at the Deeds Office and can be difficult to pin down to a reliable date in advance. As a result, Jacobs says it’s not uncommon for buyers to move into a property before the transfer is complete, or for sellers to remain resident for a while after ownership has been transferred. This is when occupational rent comes into play. What is Occupational Rent? “Occupational rent is a rental amount agreed on by both the buyer and seller,” says Jacobs. “It is paid by the buyer if they move in before the transfer is complete, or paid by the seller if the seller remains in the home once the transfer has taken place.” How is occupational rent calculated? According to Jacobs, occupational rent should ideally equal the amount the property could be leased for under normal circumstances – typically between 0.55% and 0.7% of the purchase price per month. However, this is not a hard and fast rule, and the figure can be negotiated as part of the sales agreement. “Ultimately, it is the seller’s decision,” he says, “but it’s in their best interests to keep their expectations fair and reasonable. If transfer takes place earlier than expected, or occupation is pushed back for any reason, they may be the ones footing the bill, after all.” Who collects occupational rent? Unlike an ordinary rental, occupational rent is neither paid directly to the property owner or to a rental agent. Instead, it is paid to the conveyancing attorney handling

the property sale. “The conveyancer will receive the rent into their trust account and then distribute it as necessary,” says Jacobs. “Normally, that means paying it on to the owner, but they may also pay the rental directly to the owner’s bank if the owner is in arrears on their bond, for example.” What happens if occupational rent is not paid as agreed? “Occupational rent is essentially an implied lease,” says Jacob, “which becomes a separate agreement to the sale as soon as occupation takes place. Any disputes around payment would fall under the Rental Tribunal’s authority. If they cannot be resolved amicably, normal eviction processes would apply.” As a result, Jacobs urges owners to ensure payment of occupational rent takes place upfront, and before occupation whenever possible. Other important considerations Jacobs urges buyers to think very carefully about their desired occupation date based on the occupational rent amount. “It might be tempting to opt for early occupation, but this can become very costly if the occupational rent is high, or transfer is delayed and you’re stuck paying rent for longer than expected,” he says. It’s also vital that both parties are aware of their responsibilities regarding the care and upkeep of the property during early or late occupation. “Just like an ordinary rental, the property’s occupants are responsible for the dayto-day care and basic upkeep, but the owner is ultimately responsible for any major issues with the property,” says Jacobs. “That makes it absolutely essential for sellers to maintain insurance until the moment ownership passes to the buyer, and for buyers to take out insurance starting the moment the property is transferred into their name, even if they have not yet taken occupation.”

For more information on property sales and the transfer process, visit www.rawson.co.za or contact your neighbourhood experts at a Rawson Property Group franchise near you.

‘Established’ means nothing if you’re not evolving This has been an incredibly challenging time. The one thing I have not needed to worry about, is your and your team's amazing leadership and support! Top performing franchisee

We've got your back Own a Rawson Franchise! Find out more about our business conversion opportunities at join-us@rawsonproperties.com


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Your Neighbourhood Experts

neW reLease

neWLanDs - r4,950,000

WeB ref: 1088885

a Large 982m2 DoUBLe-enTrY erf near KeLVin groVe. Situated on a large erf spanning Palmyra and Campground Road, this home offers a blank canvass for savvy renovators and investors. The existing home offers four beds, three bathrooms and a double garage. sTeVe De ViLLiers: 073 216 1638 office: 021 674 1094

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oBserVaTorY - r3,695,000

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WeB ref: 1099142

Large properTY WiTh fiVe BeDrooms near harTLeYVaLe. This income-earning digs home has four spacious bedrooms and an outside room. Alternatively, it offers a large dining room and lounge with fireplaces as a three-bedroom, two-bathroom family home. John BirKeTT: 083 444 5767 office: 021 674 1094

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neW reLease

WeB ref: 1097659

WeLL-DesigneD sTUDenT Digs hoUse offers eXceLLenT renTaL poTenTiaL. This well designed Digs House ticks all the boxes offering five spacious bedrooms, five en-suite bathrooms, additional bathroom, open-plan living, outdoor area and secure parking for five cars. John BirKeTT: 083 444 5767 office: 021 674 1094

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ronDeBosch - r13,950,000

6

WeB ref: 1100945

spacioUs foUr-BeD famiLY home in eXceLLenT LocaTion. This home offers elegance, quality finishes, unique craftsmanship and plenty of space in every room. It boasts en-suite bedrooms, open-plan kitchen with formal and informal lounge/dining areas, pool, wine cellar, and more.

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soLe manDaTe

pLUmsTeaD - r2,250,000

WeB ref: 1093607

DoUBLe-sToreY home BoasTs VieWs anD sUnnY BeDrooms. Situated on a corner erf, this large home offers three bedrooms, three bathrooms and direct access garage. There is an option to buy the adjoining three-bedroom home with double garage for R2.095 000 OR make an offer on both! QUinTin schUmacher: 082 354 5817 office: 021 674 1094

ronDeBosch - r3,975,000

sTeVe De ViLLiers: 073 216 1638 office: 021 674 1094

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soLe manDaTe

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neWLanDs - r3,995,000

WeB ref: 1097393

UnriVaLLeD LUXUrY aT The premier in neWLanDs. Modern and neat, this apartment consists of two bedrooms (main en-suite), a second family bathroom, and an open-plan living area. There is a spacious wrap-around balcony facing scenic Table Mountain and surrounds. sarah JaY Kinnear: 072 971 1898 office: 021 674 1094

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Your Neighbourhood Experts

on shoW sUn 3-5pm

soLe manDaTe

sea poinT - r29,500,000

WeB ref: 1086913

spacioUs penThoUse offering foUr BeDroom pLUs foUr BaThrooms. This two-level apartment offers high end finishes, custom-made wooden cabinetry in the kitchen, study and bar room. There are polished marble floor tiles throughout the large entertainment area and woollen carpets through the four bedrooms. Seller considering all offers. Diane BroWn: 083 377 2949 miKe BroWn: 083 251 3570

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consTanTia - r7,850,000

WeB ref: 1098687

LUXUrioUs LocK-Up-anD-go LifesTYLe in The hearT of consTanTia Upper. In this home, you’ll find excellent flow from the kitchen to dining and lounge. Ground-level offers another spacious lounge and dining area, with a cosy pub and undercover patio. Bedrooms open onto a pretty sun-filled private courtyard. For bathrooms, there is one family and one en-suite with the main room. There is a separate study and garages with direct access. canDice hUghes: 072 292 7508 sanDY DiceY: 082 785 4803

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on shoW sUn 3-5pm

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neW reLease

JoinT manDaTe

LLanDUDno - r33,000,000

sea poinT - r15,899,999

sTUnning home WiTh DeVeLopmenT poTenTiaL. This beautiful bright sun-filled house offers three en-suite bedrooms, two lounges, and an open-plan kitchen and dining area. The kitchen is fully integrated with Smeg appliances and there is a separate scullery. All rooms have magnificent sea views with floor to ceiling sliding doors. The site has the potential to be subdivided. Call us for more information.

one of TWo LUXUrioUs TWo BeDroom penThoUse aparTmenTs - aLpha one - sea poinT. These penthouse apartments offer two bedrooms with built-in cupboards. The floors are covered with high-quality carpeting and underfloor heating in the bedrooms. You’ll find two bathrooms (main ensuite), a large living/dining area, a large balcony, two parking bays, a storeroom and so much more.

Diane BroWn: 083 377 2949 miKe BroWn: 083 251 3570

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Diane BroWn: 083 377 2949 miKe BroWn: 083 251 3570

WeB ref: 1097751

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neW reLease

ToKai - r10,500,000

WeB ref: 1100686

Where TWo WorLDs meeT. Grandeur is the feeling you get upon walking through this front gate. This property is made up of three sections, namely, the main house, the cottage, and a semi-detached cottage. The property has a rich heritage with a mix of gothic and Cape Dutch styling. DaViD easTman: 071 851 3947 nichoLas cassisa: 061 164 2523

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consTanTia - r9,500,000

WeB ref: 1086149

a spacioUs famiLY home in a TranQUiL seTTing. Open plan living at its best, kitchen with separate scullery and four garage access. Lounge and dining room flow to an indoor bar and stackers to an expansive undercover patio. Separate tv room with aircon. Borehole and irrigation system. canDice hUghes: 072 292 7508 sanDY DiceY: 082 785 4803

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Your Neighbourhood Experts

PRICED FROM

R1,397,500

(NO TRANSFER DUTY PAYABLE)

lanGEbaan

Only R20 000 dEPOsit 100% bOnds availablE

livinG la dOlcE “nivica” A selection of 80 one, two and three bedroom luxury apartments with stunning views of the Lagoon. Excellent investment. 1 bedroom units sOld Out

On show daily at luguna mall

nEW dEvElOPmEnt www.portlandbeleggings.co.za

cOmPlEtiOn EstimatEd tO bE OctObER / nOvEmbER 2022

30 units sOld R60 milliOn in valuE

PRICED FROM

R1,535,000

(NO TRANSFER DUTY PAYABLE)

BLoUBerg

Tune in to Bok radio 98.9fm for weekly specials

mike: 082 555 5390 | Leon: 071 564 5931 office: 021 557 5514

5 minutE Walk tO tHE bEacHFROnt A selection of 17 spacious 1 & 2 bedroomed apartments with balconies. A beach lifestyle with spectacular sunsets and access to Blouberg's world famous kite surfing beach. One bedroom units sOld Out www.speranta.co.za

5 units lEFt

ASANTE a choice of 12 two & three bedroom luxury apartments, and a spacious 3 bedroom penthouse with built-in braai.

REady FOR OccuPatiOn

BLOUBERGRANT BEACHFRONT

PRICED FROM

R3,100,000

(NO TRANSFER DUTY PAYABLE)

all apartments include a secure double garage.

mike: 082 555 5390 | Tracy: 083 303 1066 gary: 083 258 2845 | office: 021 557 5514

bEacHFROnt dEvElOPmEnt Two Bedroom Apartments From R3,100,000 VAT Incl.

*GROUND FLOOR UNIT, FULLY FURNISHED

PEntHOusE Spacious partially furnished 3 bedroom penthouse with uninterrupted views of the sea, Robben Island and Table Mountain. Spectacular family room with built-in bar and braai. R7,850,000 VAT Incl.

On sHOW 23 may 2021 2Pm - 5Pm REady FOR OccuPatiOn Only 3 lEFt

mike: 082 555 5390 | melinda: 078 342 6678 Terri: 083 270 6900 | office: 021 557 5514

www.rawson.co.za


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Your Neighbourhood Experts

WE auctiOn EvERy WEdnEsday Enquiries: Office 079 980 3457

|

tanya: 082 411 9599

REsERvE PRicE: r7,000,000

garDens

Email: tanya.auctions@rawson.co.za

REsERvE PRicE: r2,995,000

WeB ref: 1103153

siX-BeDroom TripLe sToreY Designer mansion. address: Newport Street, Gardens. Erf size: 407m2. This beautiful house offers six en-suite bedrooms, two offices and a guest toilet. The open-plan kitchen connects to a dining, living and outdoor patio. This is a modern and spacious mansion with extraordinary indoor-outdoor flow on all levels within an easy to maintain tropical garden. There is secure parking for three vehicles. Expected opening bid: R6.5 mil. DanieL paULse: 078 248 9701 office: 079 980 3457

garDens

WeB ref: 1102310

sTYLish TWo-BeDroom aparTmenT. address: On Buiten, Buitensingel Crescent, Gardens. Erf size: 150m2. The apartment comprises a spacious open-plan flow with large windows adding lots of light. High ceilings add to this spacious city loft apartment in Gardens. The flat is comprised of two bedrooms, both en-suite with built-in cupboards. It’s a top floor apartment with north-facing views of the city and Signal Hill. Twenty-four-hour guarded security. Two secure parking bays. Expected opening bid: R2.8 mil. shannon cLaassen: 084 701 2865 office: 079 980 3457

REsERvE PRicE: r950,000

saLT riVer

|

REsERvE PRicE: r720,000

WeB ref: 1102180

one-BeDroom sTUDio aparTmenT. address: Upper East Side, Brickfield Road, Salt River. unit size: 38m2. Come and view this open-plan studio apartment with a neat bathroom and a fully-fitted kitchenette. The unit has laminated flooring, exposed brickwork and an open balcony. There is one secure basement parking. The apartment block offers twenty-four-hour security. Restaurants, a whiskey bar, an indoor pool for year-round training, and clothing outlets are all within walking distance. Expected opening bid: R940K. Diana mason: 083 260 2343 office: 079 980 3457

pLUmsTeaD

WeB ref: 1102867

neWLY renoVaTeD one-BeDroom aparTmenT. address: Plumberry Square, Hemyock Road, Plumstead. unit size: 31m2. Get your hands on this newly renovated and secure one bedroom, one bathroom, ground floor apartment. The open-plan, modern kitchen leads to a dining and living room area. This quiet and well-maintained block has a communal swimming pool, braai and entertainment area, as well as beautiful gardens.. Expected opening bid: R700 k. iLDa: 084 762 7195 | Jenni: 067 165 3737 office: 079 980 3457

REsERvE PRicE: r3,973,000

REsERvE PRicE: r1,700,000

all OFFERs Will bE REviEWEd

ToKai

WeB ref: 1097989

secUre Three-BeDroom famiLY home. address: Anderson Close, Tokai. Erf size: 981m2. Threebedroom house comprised of two en-suites and one family bathroom. The open-plan lounge and dining area has a fireplace. Cook up a storm in the fully-fitted kitchen. There is a well-maintained garden with a pool and braai area. Park your cars in the double garage or use the secure parking for four vehicles. Expected opening bid: R3,900,000. BarrY nefDT: 083 610 0778 office: 079 980 3457

Vasco esTaTe

WeB ref: 1101198

WeLL LocaTeD commerciaL properTY. address: Isabel Court, C/O Cook Street & Voortrekker Road, Vasco Estate. unit size: 230m2. A well-located property going under the hammer by Rawson Auctions. The property features: a large front shop, one office, two storerooms, two toilets and a kitchenette. It has high visibility and is on the main transport route. Vacant on transfer. Expected opening bid: R1,68 mil.

Karen peTersen: 083 495 0987 office: 079 980 3457

www.rawson.co.za


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Your Neighbourhood Experts

soLe manDaTe

sonKring - r3,050,000

WeB ref: 1082252

an aBsoLUTe famiLY sTUnner. This immaculate modern family home will steal your heart. It offers openplan living areas which create a great flow. The neat, recently renovated kitchen is an eye-catcher with ample cupboard space. As the heart of the home, the kitchen is well rounded with high-end finishes and a loose standing gas stove. This complete four-bedroom property is roomy and has neat built-in cupboards. iVan Janse Van rensBUrg: 072 508 4635 office: 021 204 8555

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soLe manDaTe

morgensTer - r2,975,000

WeB ref: 1100128

perfecT for The famiLY ThaT neeDs an eXTra renTaL income. Houses with an extra apartment are hard to come by, grab this opportunity and contact me for a viewing! Walking distance to Schools and Shops. JacQUes Le sUeUr: 083 685 6548 office: 021 204 8555

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soLe manDaTe

VreDeKLoof - r2,950,000

WeB ref: 1087864

The one YoU haVe Been searching for. This is the place where you can let your creativity and imagination flow with a property that offers all the potential you will ever need! Situated perfectly with easy access to all main roads and close to shopping centres. Here you can make your family’s dream come true! Jason ThiarT: 084 827 0423 office: 021 204 8555

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WeB ref: 1100162

sonKring ToWnhoUse. Two bedroom, double garage townhouse located in the popular Shiraz Estate, Sonkring. This one will sell quickly. Call me today!

KYLe WaTson: 071 341 5159 office: 021 204 8555

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soLe manDaTe

morgensTer heighTs - r2,599,000

WeB ref: 1088352

aLL-in-one. Space, harmony and family all in one. This home is in the heart of Morgenster Heights, Brackenfell on a 741m² plot. On entry, it offers an enchanting garden behind glass bricks that light up at night. moegamaT samUeLs: 078 218 7141 office: 021 204 8555

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soLe manDaTe

sonKring - r1,875,000

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soLe manDaTe

BracKenfeLL soUTh - r1,599,000

WeB ref: 1098684

face-BricK gem noT To Be misseD. This ideal low-maintenance lock-up-and-go home is situated in the heart of Brackenfell South in a quiet neighbourhood.

iVan JVr: 072 508 4635 office: 021 204 8555

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Your Neighbourhood Experts

neW reLease

soLe manDaTe

sea poinT - r2,950,000

WeB ref: 1101623

hear The WaVes, smeLL The ocean BreeZe. Imagine buying the perfect investment opportunity, ripe for renovation and turning it into the designer pad of your dreams, where the limits and exceptional returns could be endless. marceLLe: 083 298 8580 arnoLD:072 592 5487

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neW reLease

ciTY cenTre - r1,350,000

secUre YoUr hoTeL room. Be part of this stylish lifestyle in the heart of the city. Here is a fully furnished bachelor apartment in the Hollow on the Square Hotel with space to erect a kitchenette.

franK: 071 119 6622 office: 021 434 2000

1

WeB ref: 1098091

0

JoinT manDaTe

camps BaY - r19,950,000

WeB ref: 1098738

fronT-facing aparTmenT WiTh parQUeT fLooring. We are very proud to present you with a well-loved, original family home and a rare hidden gem, where a luxurious coastal lifestyle beckons. This apartment is enveloped in an intoxicating aura above the Camps Bay and Clifton Beaches. marceLLe: 083 298 8580 arnoLD:072 592 5487

soLe manDaTe

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soLe manDaTe

green poinT - r4,495,000

WeB ref: 1098089

fronT-facing aparTmenT WiTh parQUeT fLooring. The main bedroom and the marvellous lounge lead onto a very spacious outside terrace. It offers the perfect space for entertaining and a braaing. Pets are allowed on BC approval. franK: 071 119 6622 office: 021 434 2000

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soLe manDaTe

ciTY cenTre - r1,500,000

WeB ref: 1076932

LofT sTYLe ciTY LiVing. This spacious Studio apartment has an industrial look and feel with exposed face brick walls, terracotta tiles throughout and high ceilings.

franK: 071 119 6622 office: 021 434 2000

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JoinT manDaTe

green poinT - r2,700,000

WeB ref: 1086024

LofT-sTYLe DoUBLe-VoLUme aparTmenT. This property includes a securely covered parking bay plus a 9m2 storeroom. Currently tenanted making this an ideal investment buy. Not pet friendly.

franK: 071 119 6622 marYna: 082 858 9289

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HOME LOANS

Now is the time to find out how much you qualify for as the repo rate is at a record low. Celestine is always available to take your call and guide you through the process from application through to registration. She will pre-qualify you for a home loan before you start house hunting. A pre-approval is very useful when house hunting as it helps the agent narrow down which properties to show you and not waste unnecessary time. Complete one application and she will apply to all 4 major banks and negotiate the best interest rate on your behalf. Call her for quick and efficient service Please feel free to contact Celestine at any time on 084 559 1786 | celestine@property360.co.za

www.property360.co.za


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Property360 - National Digital Magazine - 21 May 2021  

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