PROPERTY TRANSFER DUTIES letting of residential property has been clarified . ‘ With effect from 1 April 2022 , a new section 18D was introduced in the VAT Act to clarify the VAT treatment of temporary letting of residential property ,’ said the Minister .
Grobbelaar concludes , ‘ Coupled with the higher demand in rental for two-bedroom , two-bathroom properties , the rental income – despite the increase in interest rates and the cost of utilities - is allowing property investors to increase their profit margins . Residential property investments are now more attractive to potential buyers .’
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SA Real Estate Investor Magazine APRIL / MAY 2023 72