Real Estate Investor Magazine South Africa April 2014 | Page 55

REI Offshore

Flood insurance rates
In the US, home sales fell in January to its lowest level
in a year and a half and blames the weather for it. Prolonged winter weather patterns across the country are
impacting a wide range of economic activity, and housing is no exception. There is belief that some housing
activity will be delayed until spring. It is believed that in
addition to disruptive weather, higher flood insurance
rates are impacting on the real estate market in areas
designated as flood zones, which account roughly for
8% to 9% of sales. According to sources 30% of transactions in flood zones were cancelled or delayed in January as a result of sharply higher flood insurance rates

Visa free travel

The EU Parliament has just voted visa-free travel for the
nationals of 19 third-world countries one step closer. In
the last week of February, Commissioner for Home Affairs, Cecilia Malmström, revealed approval for 16 African, Caribbean and Pacific countries, as well as the United
Arab Emirates (UAE), Colombia and Peru. The decision,
which includes business, tourism and family visit purposes, will also open up opportunities and advantages for EU
citizens, as any existing visa requirement for EU citizens
to travel to these countries will be eliminated.

Valuable Input

Bill Rawson
Chairman
Rawson Property Group

Brett Taylor
Senior Area Manager
deVere Group

James Bowling
CEO
Monarch & Co International

One of the aspects of the
current Australian property
market that has most
impressed me on my recent
visit there, is the Australian
property market’s ability to
attract foreign property buyers,
particularly those in China
and Asia in general.

We have seen growing demand
from our clients in South
Africa and Africa generally for
real estate investment services
and products. Our recent
partnership with IP Global
will help them develop their
wealth portfolios further.

Visiting Portugal today, you
will notice the best road
infrastructure in Europe, the
best schools and education
facilities, state-of-the-art
government systems that allow
for transfer of property in half
an hour, police clearances
in 30 seconds, and the list
continues.

www.reimag.co.za

REALE ESTATE BUSINESS DIRECTORY

April 2014 SA Real Estate Investor

53