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PROPERTY NEWS

09 MAY 2021

Flisp partnership opens doors for homebuyers

Lisbon offers new investment opportunity Reward Properties – a joint venture between Neworld, a European-domiciled company established by South African property development specialist John Rabie, and RE Capital, a Geneva-based property investment, development and asset management business headed up by Newman Leech – has teamed up with Pam Golding International to launch a new redevelopment project in Lisbon’s Marvila district. The Marvilla Collection is housed in a prime architectural building originally used as a winery, of which the historical façade will be retained. The companies have identified the area as the best investment opportunity in Portugal currently, as it is projected to be the capital’s next important tech hub. Launched mid-April in South Africa, Marvilla 1 comprises 166 residential units priced from under €250,000 (±R4,3m) in two phases. Marvilla 2, with scenic views of the Tagus River, will launch next year and consists of apartments and retail space. Skybound Capital, a global wealth management business with its headquarters in London, is the strategic debt funding partner for the development. “Developed in consultation with renowned architect Frederico Valsassina, the Marvilla Collection embodies value and an appealing lifestyle in a trendy area,” says Rabie. “In addition, it will offer a furniture package

and rental scheme with a 4% guaranteed return for two years.” The Marvila area is on the eastern fringe of Lisbon, 10 minutes by car from the iconic Praça do Comércio – a large harbourfacing square. Plans are currently in motion to revitalise the entire waterfront area. “We’re delighted to be a marketing and sales partner in this exciting venture,” says Andrew Golding, chief executive, Pam Golding Property group. “We’ve had a friendly association with John Rabie over many decades, but this collaboration represents the first offshore joint venture. Many South Africans are

seeking international jurisdictions for worthwhile investment in property, accessibly priced and with the potential to yield sound capital growth and rental income. Marvila ticks all the boxes. What adds to Portugal’s appeal is a historically low interest rate, with banks granting loans of between 1% and 2%, which compares favourably with anywhere else in the world,” Golding says. “The Marvilla Collection is in a sought-after district that embraces creativity, technology and the arts, and offers great value for rental accommodation, particularly among young couples and creatives, entrepreneurs and remote workers,” adds Leech.

First-time homebuyers in South Africa now have added support to get their foot on the first rung of the property ladder, thanks to a new partnership between legal technology company LexisNexis SA and conveyancing firm MDW Inc.

(or plot) linked to house-building contracts, or to build a new house on a serviced residential stand that the applicant already owns. Builders must, however, be registered with the National Home Builders Registration Council (NHBRC).

The two industry players have joined forces to grow awareness among aspirant homeowners of property funding available through the South African government’s Finance Linked Individual Subsidy Programme (Flisp). LexisNexis is using its extensive network to encourage conveyancing attorneys and their employees to advise firsttime homebuyers of the funding opportunity, whereas MDW Inc is authorised to facilitate the applications on behalf of the attorneys and their clients.

MDW Inc director Meyer de Waal says the partnership with LexisNexis is an extension of his longstanding commitment to ensuring that property access and property rights are afforded to more people.

Subsidies are available for up to R121,000 for those within the gap housing market (households with an income of R3,501 to R22,000). The subsidy acts as a cash contribution or deposit to supplement an approved home loan and may be used towards the purchase or construction of a property. Funding is calculated on a sliding scale according to the gross income of the first‑time homebuyer. The subsidy is paid into the bank or financial institution granting the bond, reducing the homebuyer’s monthly loan instalments and making it more affordable to purchase or build a home. Once approved, the funds can be used towards the purchase of an existing residential property for the first time, to purchase a vacant serviced residential stand

“I’ve been surprised at the inadequate knowledge that exists publicly of available funding vehicles for property purchases,” he says. “I hope that partnering with a legal powerhouse like LexisNexis SA will accelerate awareness and enable more people to fulfil their dreams of property ownership. I also believe it should be an obligation for conveyancers to alert their clients to opportunities like Flisp.” According to ooba, the percentage of first‑time homebuyers has been rising steadily since late-2007, reaching a record high of 56.2% in May last year. Meanwhile FNB reports that data from the Deeds Office shows younger buyers (below the age of 35) now account for 43% of residential sales – up from 38% in 2019. Lightstone Property data also indicates that most firsttime buyers enter the residential property market in the R700,000 to R1,5m price band. For application criteria and further information, visit mybondfitness.info/lexisnexisflisp.

Pam Golding Properties wins global awards Hot on the heels of being named Best Real Estate Agency in SA 2020-2021, Pam Golding Properties has received global recognition by winning Best International Real Estate Agency and Best Real Estate Agency in Africa 2020-2021 at the world‑renowned International Property Awards. Open to property professionals from around the world and judged by an independent panel of more than 100 industry experts, the International

Property Awards celebrate the highest levels of achievement by companies operating in all sectors of the property and real estate industry. With a network of more than 300 offices in sub-Saharan Africa as well as a number of international offices, Pam Golding Properties also has a strategic alliance with one of the world’s largest property groups, Savills plc, and has access to its prestigious network of more than 600 offices worldwide.

“Over the years we’ve built up a globally recognised and respected brand and we’re extremely proud to be the recipient of more than 60 International Property Awards,” says Andrew Golding, chief executive, Pam Golding Property group. “This latest award is a high point and a testament to the ethos, dedication and commitment of our agents and staff – and, of course, the support over the past 45 years of the hundreds of thousands of clients for whom

we’ve had the privilege of facilitating transactions. “Key judging criteria include service, innovation, quality, design and originality – the same pillars on which we’ve successfully built our brand over the past 45 years. What has been underscored over the past year in particular, is that our core business is not about bricks and mortar, it’s about people. At the heart of our success is the fact that we foster long-term relationships with clients – both sellers and buyers –

with agents playing a key role in applying their interpersonal and negotiating skills in concluding successful property transactions across all sectors of the market. “Through building our group internationally, marketing our brand and forming worldwide links and associations, we’ve made it our mission to position SA and the African continent as a globally competitive player that attracts foreign investment, which is so vital to building our economy,” Golding says.

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Profile for Your Neighbourhood

Neighbourhood JHB - 09 May 2021  

Neighbourhood JHB - 09 May 2021  

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