Real Estate Investor Magazine South Africa Real Estate Investor Magazine - November 2017 | Page 6

Q&A Property advice Q IZA ALBUTT Marketing Manager at Bridge Flow What is Bridging Finance and how does it help me on my property journey? The process of applying for Bridging Fi- nance is simple.  You would fill in our forms and return them to us with a copy of the Agreement of Sale.  Thereafter, we would contact the transferring attorneys to get an update from them.  Our credit committee then does “due diligence” and should all be in order we then request an undertaking from the transferring attorney.  Once this is received we are able to process payment.  Payments are express and money reflects in your account immediately. You can apply for bridging finance only once the sale is deemed to be finalised; all suspensive conditions met, all deposits paid and guarantees in place for the balance of purchase price. In the event that you have net proceeds after a property is sold and subsequently transferred, you will qualify to bridge up to 80% of these proceeds prior to the actual transfer date. Our payments are express, so funds are available to you generally within 24 hours after approval. You can use bridging finance for: • Deposit on the purchase price of a new property and moving costs • Transfer duties and levies • Outstanding rates and taxes Q I’m looking to extend my property portfolio, but am cautious of investing in property in the current eco- nomic climate. What makes a good investment? SANDRA GORDON Senior Research Analyst for Pam Golding Properties Transport cost and time spent in traffic are major drivers in choosing a place to live. Acquiring an apartment in a 24-hour live, work, play precinct becomes highly desirable. We are already seeing a growing number of mixed-used developments in sought-after metropolitan areas.  The de- velopment of transport corridors provides easy access for businesses and residents, thus having a positive impact on an area’s property prices. There’s also a marked increase in res- idents looking to move into estates. The most popular are those that, in addition to security, also offer facilities like schools and medical. While golf courses remain popular, additional amenities and facilities such as cycling tracks, equestrian facilities and outdoor gymnasiums make them Q ANTON HARTMANN HB Realty ASK THE EXPERTS 4 even more popular due to being more in- clusive of the entire families’ needs.  The type of property most in-demand in the residential sector, presenting sound medium to long term investment options, is sectional title. Rising utility costs and the need for improved security is reinforc- ing the desire to downsize and relocate to low maintenance, conveniently located apartments in suburbs. Also look out for green and energy-saving features, as these add to the appeal of a property to tenants or future buyers. Another option is student accomoda- tion within close proximities to teritiary institutions. Examples are converted houses, let out per room and giving inves- tors significantly greater returns. Which trends in residential property are becoming in- creasingly important to the consumer? Location is always a major consideration and ensuring amenities such as schools, shopping centres, and recreational niceties are key in attracting all types of tenant interest. Security has always been an es- sential feature but we are finding fibre installation has become equally important. We have found that by integrating the fi- bre offering with security creates state of the art security features without having to solely rely on guarding man power. A good example is Sandown Sentral devel- opment in Sandown. Fibre is used for ac- cess control and 24-hour off-site CCTV monitoring and recording. Do you have a property question you would like answered by our experts? If so, post it on ASK THE EXPERTS on www.reimag.co.za or email [email protected] NOVEMBER 2017 SA Real Estate Investor Magazine