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| South Africa Bans All Use of Asbestos |
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Environmental Affairs and Tourism Minister Marthinus van Schalkwyk has announced that the use, manufacture and processing of asbestos will be prohibited in South Africa with immediate effect
The Regulations for the Prohibition of the Use, Manufacturing, Import and Export of Asbestos and Asbestos Containing Materials, which form part of the Environment Conservation Act of 1989, will be promulgated on 28 March and will take effect immediately, Van Schalkwyk said at a media briefing on Thursday.
"A grace period of 120 days will be allowed for any person or merchant who is currently dealing in asbestos or asbestos containing materials to clear their stocks," he said.
The main objectives of the new regulations is to prohibit the use, processing or manufacturing, of any asbestos or asbestos-containing product unless it can be proven that no suitable alternative exists.
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| Building Activity Shows Decline, Stats SA Shows |
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The figures show that while total building plans passed increased in January, the residential sector is still under pressure and will remain so during 2008 due to high interest rates
They also show that planning for future projects was beginning to decline in general because of economic factors even before the cutback in projects being caused by the Eskom crisis is factored into the equation.
Stats SA says growth in total building plans passed increased in January by 18,6% year-on-year (y/y) to record the highest growth since March 2006 of 21% y/y following two consecutive declines in both November and December of -18,7% y/y and -13,3% y/y respectively.
The recovery in growth in total building plans passed in January was led by an increase in two categories.
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| Plettenberg Sales Down, Average Prices Up |
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Recently-released figures for property sales in Plettenberg Bay during 2007 reflect a year-on-year increase of more than 20% in average prices against the background of a significant decrease in the number of properties sold and the total value of properties sold during the year
Steve Neufeld of Lew Geffen Sotheby's International Realty Plettenberg Bay notes that, in terms of figures available as at 5 March 2008, the number of property sales decreased by a staggering 38%. As a consequence, the total value of sales in Plettenberg Bay in 2007 declined to R602m from R778m in the previous year.
"There are still a lot of sales from 2007 that are in the registration process, so the figures will not be as dramatic once these are registered, but all indications are that 2007 will be substantially down on 2006, which in turn was down on the previous four years. The decline can be attributed to decreasing affordability and uncertainty in the marketplace and economy in general," he says.
Despite the decline in total sales, the average price for freehold property (including vacant plots and houses) increased to R1,99m and R1,38m for sectional title units.
| Lew Geffen Sotheby's International Realty, 25-03-2008 |
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| Elgin and Grabouw are Nice Country Retreats |
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A combination of factors is now helping to make the Elgin/Grabouw area a good choice for those looking to move away from Cape Town in the search of a country retreat
The first factor is the new lease of life injected into the area by the slow but steady revival of apple farming (which for almost a decade was seen by many to be on the way out) and the development of many new wine estates not seen in this area prior to 1990.
"Grabouw's cooler upland climate and fairly dry soils lend themselves to developing attractive flavours in wine grapes and local winemakers are now regularly winning awards for their exceptional wines."
| Anne Porter Knight Frank, 20-03-2008 |
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| Call for Green Property Incentives |
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The real estate industry has joined the call for comprehensive Government incentives for energy efficient retrofits of residential properties
CEO of ERA South Africa property group Gerhard Kotzé says the first laudable steps in this direction have been taken with reports that Government is planning subsidies for solar powered geysers and the news that Eskom is planning a door-to-door giveaway campaign of energy efficient light bulbs to replace less efficient incandescent light bulbs.
“However what’s needed is a more widely embracing package with everything from hybrid geysers (a mix of electrical and solar) to stand-by batteries and generators, use of natural lighting, solar walls to provide solar heating throughout the home, roof insulation, heat recovery ventilation and other energy saving measures.
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| Projects Abound in St Francis Bay |
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The wellspring of new development taking place in the coastal town of St Francis Bay is unlikely to slow in the foreseeable future - provided developers keep their pricing market-related
According to Les Olivier the entire Kromme River/St Francis Bay market is booming, regardless of the country's upwardly mobile interest rate. Commenting on the back of the unprecedented pace of new leisure and residential development in the residential marina, Olivier says its appeal lies not only in its standardised thatched architecture but also its unique canal system that accesses the Kromme River and feeds into the Indian Ocean.
In addition, its surfing is world-renowned, it is just an hour's drive to the airport in Port Elizabeth and en route to Plettenberg Bay and Knysna.
| Independent Property Consultants, 18-03-2008 |
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| Residential Property Impressive by World Standards |
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South Africa property among world’s best performing Global House Price Index
South African estate agents may be feeling the pain of tougher market conditions, but from an international perspective returns from the residential asset class look “impressive” on the surface.
That’s the message contained in a report produced by Knight Frank to accompany its Knight Frank Global House Price Index for 2007.
The index, which is an average snapshot of international residential property performance, fell in the final quarter on a year-on-year basis, but for the year price inflation was just over 8%.
| Knight Frank Global House Price Index, 18-03-2008 |
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| 2010 Spurs Interest in Cape Town Property |
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It is beginning to be clear that some of the very optimistic predictions about the 2010 Soccer World Cup event are not unfounded
We have already begun to see an influx of business travellers - particularly film and television people - coming to Cape Town to prepare for the event and they are often looking for short or long-term rentals to cover the period of the event and the run-up to it," says Lanice Steward, managing director of Anne Porter Knight Frank (APKF), an estate agency that serves the southern suburbs of Cape Town and much of the Cape Peninsula's Atlantic Seaboard.
"We have also noticed a big rise in the number of people now seriously interested in buying rentable homes, bed and breakfasts and small hotels."
Steward said that the Sea Point/Green Point area, close to the fast rising new stadium, is the preferred precinct for most of the new enquirers.
| Anne Porter Knight Frank, 16-03-2008 |
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| New Estate has Alternative Power |
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A property development that launched last week in Boskruin on Johannesburg's West Rand has taken pro-active steps to minimise the inconvenience and danger faced by South Africa's home owners due to power outages
Solar panels and a generator have been included on the optional extras list, whilst gas appliances were installed to keep food cooking even if Eskom's power supply shuts off. The danger of opportunistic criminal activity within complex by maintenance personnel has also been minimised by use of low-maintenance finishes.
Fulvio De Stefanis, Director of DVG Construction, explains that due to the recent black outs and sustained criminal activities experienced by home owners across Gauteng, "it was imperative for us to offer an appropriate package for the environment in which we live."
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| Housing Review 1st Quarter 2008 |
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Property Trends - Housing Review
The South African economy expanded by 5,1% in real terms in 2007,
mainly as a result of strong growth in the financial, real estate and
business services sector.
During the course of 2007 the household sector was affected by rising
inflation, higher interest rates and the implementation of the National
Credit Act (NCA). The cost of servicing household debt increased to
above 10% of disposable income, real disposable income growth
slowed towards the end of the year, and real consumption expenditure
growth tapered off to lower levels.
Nominal and real house price growth slowed down further towards the
end of 2007, largely as a result of the tightening of monetary policy
since mid-2006, stricter requirements for credit extension implemented
in the second half of last year, and housing having become less
affordable, putting pressure on household finances.
| Absa Group Economic Research, 29-02-2008 |
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