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In today's episode of The Property Corner, Rowan breaks down seven things to look out for in 2024 in the property market. We’ll be diving into predictions related to the interest rate, immigration, accessibility to finance, the rental market pricing, and more!

Drop us a comment below and tell us what you want to be hearing more about in 2024.

Find property for sale in Cape Town or explore our property development on our website www.asproperty.co.za 

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In this episode of The Property Corner, Rowan discusses misconceptions surrounding refinancing residential properties, as well as tips on how you can lower your income to achieve reduced instalments and better your financial position.

0:00 Introduction

0:25 Misconception about buying a property at submarket value with refinancing

1:30 An example of why this is a misconception

1:56 How to work out what percentage of income should be used towards property repayments and what you can lend

3:22 Tips that can help you reduce your instalments

3:58 Using your rental income (Tip 1)

5:27 Increasing your income (Tip 2)

8:00 What you shouldn’t be doing with refinancing

8:33 Outro

Subscribe to be notified of our next episode where we will be talking about "Understanding Mortgage Bond Repayments"

Youtube: http://youtube.com/@propertycornerza

Spotify: https://shorturl.at/horJT

Apple Podcasts: https://shorturl.at/alFG7

Subscribe for FREE property investment advice in South Africa

Youtube: http://youtube.com/@propertycornerza
Spotify: https://shorturl.at/horJT
Apple Podcasts: https://shorturl.at/alFG7

A property deposit in the context of residential real estate refers to a lump sum of money paid by a buyer to the seller or their estate agent as part of the property purchase process. This deposit is a financial commitment from the buyer and is typically expressed as a percentage of the property's total purchase price. The purpose of the deposit is to demonstrate the buyer's serious intent to purchase the property and to secure the deal.

But what happens to a property deposit when the sale of the house falls through? In this episode of the Property Corner, Rowan will be breaking down three scenarios that have lead to a contract being cancelled or not proceeding to understand who is responsible and how that would impact your deposit.

0:00 Introduction

0:34 The simple answer

0:51 Agreements of sale & suspensive conditions

02:04 Most common example of a suspensive condition: mortgage bond application

02:55 Being in breach of the agreement of sale

03:45 Scenario 1: Not remedying the breach within the prescribed time

04:40 What constitutes a breach in South African property contract law

05:57 Scenario 2: Not wanting to proceed with the transaction or failing to meet your obligations

07:55 Scenario 3: What happens when the seller is in breach

08:53 Am I still liable if I don’t pay a deposit?

09:32 The importance of a deposit

10:47 Outro

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Find property for sale in Cape Town or explore property development on our website http://www.asproperty.co.za

Are you facing financial challenges or seeking to enhance your standing in the realm of property investment?

Distressed sales in the South African residential property market involve selling properties quickly at prices below their market value due to the seller's financial difficulties, providing buyers with cost-saving and investment opportunities, while helping sellers in financial distress expedite property disposal. Awareness of legal complexities and property conditions is crucial for both parties.

In this episode of The Property Corner with Rowan Alexander, we explore the topic of distressed sales and how they are rising in South Africa. We unpack a report by Lightstone which states that distressed sales in South Africa have risen by 1.7% between May 2022 and May 2023.

Lightstone’s property report on distressed sales: https://www.lightstone.co.za/newsletters/property/2023/Oct/A4Oct23

00:00 Introduction

00:20 Lightstone report figures of distressed sales in South Africa

01:10 What the rise in distressed sales indicates for property in South Africa

01:17 How sales and execution were measured in the past

01:30 Bank processes to help consumers sell homes prior to getting into default where legal action is taken

01:50 How specific bank processes benefit both sellers and the banks

02:10 First buying trend measure that Lightstone identified to determine whether distressed sales are rising and how they found this information - Buying and reselling within two years

02:23 The figures that Lightstone is using to identify distressed sales

03:00 What factors cause “buyers in distress”

03:26 Second buying trend measure Lightstone has identified - The loan to value & number of bonds people are applying for

06:08 Is the motor vehicle trade in South Africa experiencing the same trends as the residential property market

Subscribe to be notified of our next episode where we will be talking about how property owners in distress can avoid getting to a point of having a sale and execution.

Find property for sale in Cape Town or explore our property development on our website www.asproperty.co.za

In this episode, join us as we interview Jacques Streisand, a close friend and successful attorney in the property industry. Jacques journey is not only inspiring for his achievements in property investment but also for his adventurous spirit and approach to life's challenges. Hosted by Rowan Alexander, this conversation delves into Jack's decision to start his own business, his early entrepreneurial experiences, and the path that led him to a career in law and property. Discover the motivations and insights that have shaped Jacques remarkable journey in this engaging discussion.

We also explore how Jacques childhood experiences of frequent moves influenced his passion for property and his competitive and determined spirit, which have been instrumental in his success. Jacques emphasises the importance of attitude in achieving your goals, highlighting that it's not rocket science; it's all about having the right attitude and channeling competitiveness into a driving force. This special ability is often found in top agents, businessmen, and entrepreneurial individuals.

Tune in to gain inspiration and valuable lessons from Jacques' experiences and outlook on life. Don't miss this opportunity to learn from Jacques' incredible journey, from childhood moves to entrepreneurship, and how he views competition as a driving force for excellence in the property industry.

Are Buy-to-Let Properties Still a Good Idea? An In-Depth Analysis"

Join us in this enlightening exploration of the question, "Are Buy-to-Let properties still a good idea?" In this episode, we will equip you with invaluable insights and actionable guidance to navigate the realm of investing in Buy-to-Let properties. The decisions you make in this domain can have a profound impact on your financial strategies, and we are here to guide you through the intricacies.

Understanding the viability of Buy-to-Let properties in today's market is crucial for making informed financial decisions. Whether you are a seasoned investor assessing the potential of rental properties or a newcomer considering their merits, this episode is a must-listen.

Effectively evaluating the viability of Buy-to-Let properties requires thoughtful contemplation and financial proficiency. We will provide expert advice on assessing market conditions, weighing the risks and rewards, and determining whether investing in rental properties aligns with your financial goals.

For the latest updates and in-depth discussions, be sure to subscribe to our podcast on your preferred platform:

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Welcome to an illuminating exploration of "Co-ownership and Joint Purchasing." In this episode, we will empower you with invaluable insights and actionable guidance to navigate the realm of co-ownership and joint purchasing. The decisions you make in this domain can have a profound impact on your financial strategies, and we are here to steer you through the intricacies.

Grasping the concept of co-ownership and joint purchasing is fundamental to making well-considered financial choices. Whether you are an experienced investor seeking collaborative opportunities or a newcomer delving into shared ownership dynamics, this episode is a must-listen.

Effectively managing your choices regarding co-ownership and joint purchasing necessitates thoughtful contemplation and financial proficiency. We will provide expert counsel on evaluating your circumstances and selecting the optimal path for your requirements, all while safeguarding your financial well-being.

For more updates and in-depth discussions, make sure to subscribe to our podcast on your preferred platform:

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Welcome to an enlightening discussion on "Fixed vs Variable Interest Rates." In this episode, we'll equip you with valuable insights and practical advice to help you make informed decisions between fixed and variable interest rate options. The choice between these two types of rates can significantly impact your financial strategies, and we're here to guide you through the intricacies.

Understanding the distinction between fixed and variable interest rates is essential to making well-informed financial choices. Whether you're a seasoned investor seeking stability or a newcomer exploring interest rate dynamics, this episode is a must-listen.

We'll start by breaking down the mechanics of fixed and variable interest rates, delving into how each type functions and what factors influence them. This foundation is crucial for making informed decisions that align with your financial goals. We'll also explore the potential benefits and risks associated with both options, ensuring you're equipped to navigate any scenario.

Effectively managing your choice between fixed and variable interest rates requires careful consideration and financial acumen. We'll provide expert guidance on how to evaluate your circumstances and select the right option for your needs, all while safeguarding your financial well-being.

Furthermore, we'll delve into various strategies for optimising your chosen interest rate type. Whether it's exploring opportunities to refinance, assessing risk management tactics, or even considering hybrid approaches, we'll offer actionable insights to help you maximise the benefits of your chosen rate structure.

Join us as we demystify the complexities of fixed and variable interest rates. Armed with knowledge and a clear perspective, you can confidently make choices that harmonise with your financial aspirations, even amidst evolving economic landscapes.

For more updates and in-depth discussions, be sure to subscribe to our podcast on your preferred platform:

YouTube: http://youtube.com/@financialinsightsnow