Author: Lauren

The Private Property takeover bid by P24 will not proceed

“Private Property has announced the conclusion of a deal which will see a change in ownership from the existing shareholder, OAM, to a consortium of committed South African buyers, including listed media giant Caxton.” Along with Caxton, the other buyers include industry participants with a deep understanding of the market. The deal is subject to Competition Commission approval and is expected be finalised by the end of October 2017. The proposed takeover bid by Property24 parent company Naspers will not proceed. The new deal was concluded with the assistance of the industry body, Real Estate Business Owners of South...

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Repo rates remain the same

The Monetary Policy Committee has decided to keep the repo rates at their current levels, according to South African Reserve Bank governor Lesetja Kganyago. This follows the Reserve Bank’s previous decision in July to cut the rates by 25 basis points. Currently, the repo rate is at 6.75%, with the prime lending rate at 10.25%. The decision to retain the repo rate is disappointing for the economy and property market, says Samuel Seeff, chairman of the Seeff Property Group. At a time of poor business confidence and weak economic growth marred by political instability, a further rate cut would...

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Ask the expert: Safety Features

Good security is an asset in any home and can add value to your clients’ property. Trellidor platinum sales consultant Steven Matthews offers pointers. FIT PRODUCTS INSIDE Security products inside a door or window are a far greater deterrent against burglars. Once intruders have broken a window or door, the four golden elements they need – time, tools, noise and privacy – are compromised by the slower process of breaking through bars or gates. BETTER-LOOKING PRODUCTS More attractive security products include aluminium security shutters, barely visible polycarbonate bars, see-through stainless steel protective screens and roller-style doors. SECURE STAIRCASES Retractable,...

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Tech spin-off for US agents

Seattle-based real estate tech company Zillow has announced it is expanding a test of an initiative for home sellers named Instant Offers, Kurt Schlosser reported on GeekWire in August. Zillow Instant Offers serves as a marketplace for iBuyers, hi-tech investors who use technology to make quick offers on homes and close in days, either reselling the properties or converting them into rentals. Launched in May 2017 in Las Vegas and Orlando, Florida, the product connects home owners to investors as well as to a comparative market analysis from a local real estate agent. Since market analysis valuations are likely...

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Commercial property app

New Instant Property real estate app aims to transform the sourcing, renting and management of commercial property. The platform, optimised for mobile, is tailored to provide a network suited to the needs of multiple users: landlords, tenants and brokers, says Instant Property director Wayne Berger. The platform grants landlords free access to list vacancies and promote them to a network of specialist brokers and tenants. From November 2017, landlords will be able to list properties for sale or auction and buy properties online. Tenants can locate and compare more than eight million square metres of business space and contact...

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