When buying or selling immovable property, understanding the associated costs and who is responsible for them is crucial. Both buyers and sellers need to be aware of these expenses to budget appropriately and avoid any unexpected financial surprises. Here’s a breakdown of the typical costs involved in a property transaction and who is responsible for each. Costs Typically Borne by the...

Introduction Deciding whether to buy or rent a property is a significant financial decision that depends on various factors including personal circumstances, market conditions, and long-term goals. In South Africa, this decision is influenced by unique economic factors, housing market trends, and government policies. This article provides a detailed comparison of buying versus renting property in South...

The second quarter of 2024 has brought a wave of optimism to South Africa’s business landscape, particularly in the Other Services sector, as reported by the Bureau for Economic Research (BER). The sector has seen a significant increase in business confidence, climbing to 55, indicating that more than half of the respondents are satisfied with the current business conditions. This rise is a substantial...

The formation of a Government of National Unity (GNU) in South Africa represents a pivotal moment in the nation's political landscape. This coalition, formed after the African National Congress (ANC) failed to secure a majority, involves collaboration with the pro-business Democratic Alliance (DA) and the Inkatha Freedom Party (IFP). This significant shift brings both opportunities and challenges,...

Understanding the intricate legal landscape surrounding landlord charges for additional services in South Africa is crucial for both landlords and tenants alike. At the heart of this issue lies the principle of tenant consent, as underscored by attorney Deonay Scholtz from the esteemed Property Practice Group. Scholtz's insights, gleaned from recent legal precedents, shed light on the complexities of...

When it comes to the intricate process of buying and selling a home, there's a myriad of expenses to consider, including legal fees. It's easy to lose track of who bears what costs in this complex transaction. For sellers, these costs can be substantial and often include: Bond Cancellation: In South Africa, selling a home involves bond cancellation overseen by the bank-appointed bond attorney. This...

The residential property market in South Africa has been facing challenges but shows signs of a gradual turnaround. In the first quarter of 2024, the oobarometer indicates that the extended period of high interest rates has affected the volume of home loan applications processed by ooba Home Loans. Rhys Dyer, CEO of the ooba Group, remains optimistic, stating, “Resilient South Africans are likely...

Owning a home is a significant milestone that opens doors to endless possibilities and opportunities. For many first-time home buyers in South Africa, the journey towards homeownership may seem daunting, but with the right knowledge and guidance, it can be a smooth and rewarding experience. In this guide, we'll walk you through the essential steps and considerations for first-time home buyers in South...