Wednesday, 24 October 2012

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Tuesday, 23 October 2012


Are we finally seeing decent prices on holiday homes
According to FNB's John Loos

Due to the non-essential nature of a holiday home, holiday home buying has taken more of a back seat to primary residential buying during the tough financial times of recent years. Now, in 2012, after a very significant real price decline in the FNB Holiday Towns Index, some return to price stability may be being observed.

The holiday property market has had major challenges in recent years. After the 2008/9 recession South Africa’s household sector has been under significant financial pressure, and the sharp rises in municipal rates and utilities tariffs related to housing must surely have caused a good number of aspirant holiday home buyers to rethink the merits of owning a 2nd home for leisure purposes.

The FNB Estate Agent survey appears to tell such a story. Whereas back in early-2007, prior to the recession, the sample of agents surveyed estimated that 5% of home buying was for holiday home purposes, in recent years the percentage has ranged between 1% and 3% of total buying. In the 3rd quarter survey of 2012, the percentage of buyers buying for holiday home purposes was estimated at 2%, unchanged from
the previous quarter.

Therefore, our agent sample certainly doesn’t point to a strong holiday buying market, but one that is slightly better than the low of Winter of 2011 where only 1% of buying was believed to be for holiday purposes.

However, it is possible that after a major downward correction in real holiday town home values, the combination of holiday home buying being slightly up off the low point, combined with improved price realism, may have led to a move towards real price stability in holiday town markets.

For non residents buying in SA - is great now and doing money transfers to South Africa has never been easier with free money transfers.

Thursday, 11 October 2012

Transfer money to SA from UK and Eurozone

  • From the UK comes the news that the Bank of England backed away from stepping up its program of government bond buying on as the economy starts showing signs of growth with expected increase in  lending.
  • On the EU front -  European Central Bank President Mario Draghi said that the ECB was primed to buy troubled Eurozone bonds when conditions were right and that this had already calmed financial market tension - hopefully this remains true.
  • Still in the EU - The Euro had gained strength because it seems the ECB were to progress with financial stimulus and calm the nerves of investors. Remember there was no rate cuts or monetary easing, the ECB president said he was “Primed to buy troubled Euro bonds when conditions were right.” The fact he mentioned this has helped the Euro maintain its gains across the board. 
So time to use your Euros or UK pounds and invest in SA  so transfer money to SA.