Tag: residential property
Considering upscaling, downscaling or semigrating?
The COVID-19 pandemic has given rise to significant shifts in the residential property market. In the beginning, many were scaling back to clamber back on costs, however, as interest rates continued to dip between 2020 and 2021, many started to upgrade their homes and invest in bigger spaces.
Is your Property Managing Agent compliant?
How do you go about choosing a Property Managing Agent for your residential or commercial property in South Africa? This is a very important question to ask, and the answer is a little bit more involved than you might think. Choosing a Property Managing Agent is a very important consideration for Body Corporates and Trustees alike.
The VAT increase and the sale of residential property
An increase in the Value Added Tax (VAT) rate to 15% will came into effect on 1 April 2018. Generally, the sale of residential property is subject to transfer duty, however, if a seller is a VAT vendor, such as a property developer, VAT may be payable. How will the VAT increase effect the sale of residential property, where a property is purchased before 1 April but transfer only occurs after the date of the increase?
