RESIDENTIAL
HOW REAL ESTATE THRIVES IN THE CLOUD
IAN OLIVIER
AREA PRINCIPAL OF PAM GOLDING PROPERTIES“ The recent sale of a luxury 750sqm home by Pam Golding Properties for R16 million has set a new record in Port Elizabeth’ s property market … the previous record price for the area( across the market) stood at R10 million. The sale … underpins a growing trend for high net worth buyers to relocate to Port Elizabeth from other parts of the Eastern Cape on the back of the area’ s growing economy...”
SHAUN RADEMEYER
CEO OF BETTERLIFE HOME LOANS“ We are concerned at the steep increase in the personal tax rate for those in the top income brackets, with the marginal rate for those earning over R1,5m a year being 45 % now. This is going to reduce the appetite for large and luxury homes and it thus threatens to put a lid on price increases in the upper reaches of the residential market, which is where government will now be getting most of its transfer duty revenue.“
LEW GEFFEN
CHAIRMAN, LEW GEFFEN SOTHEBY’ S“ Minister Gordhan uttered the word‘ transformation’ more than 50 times in his 29-page Budget speech. He is not wrong that transformation is needed in South Africa, but not at the expense of the tax-payers on whose backs the economy is built. With an unemployment rate of more than 26 % in the last quarter of 2016, businesses big and small need all the help they can get from the government right now...”
www. reimag. co. za APRIL 2017 SA Real Estate Investor 15