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Jacques Du Toit Absa Hoam Loans
February 23, 2017

Minor adjustments to transfer duty on property in the 2017 Budget

in Office, Retail, Industrial, Hotels and Residential
The 2017 national Budget was tabled in the South African Parliament by the Minister of Finance, Pravin Gordhan, on Wednesday, 22 February 2017.
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February 22, 2017

Pravin Gordhan raises transfer duty threshold from R750 000 to R900 000

in Office, Retail, Industrial, Hotels and Residential
The raising of the threshold for transfer duty on properties sold for less than R900 000, up from R750 000, as announced in today’s National Budget, is positive news as it provides some relief for first time home buyers, says Dr Andrew Golding, chief executive of the Pam Golding Property group.
Lesetja_Kganyago_SARB_Governor
February 22, 2017

GDP to average 1.3% in 2017, SA needs to boost investment

in Office, Retail, Industrial, Hotels and Residential
South Africans can expect growth of 1.3% in 2017, which is expected to improve moderately to over 2% in the medium term, Finance Minister Pravin Gordhan said on Wednesday.
Pravin Gordhan Finance Minister
Feb 22, 2017

Good news for affordable housing market

As Finance Minister Pravin Gordhan tabled what appeared to be a pro-poor budget, he has announced that relief will be…
Dawie Roodt
Feb 22, 2017

South African economy for retailers with Dawie Roodt and the South African Council…

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Feb 21, 2017

Stor-Age close R500 million acquisition

JSE self storage REIT, Stor-Age, today announced that it had raised R400 million in a significantly oversubscribed book…

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Wednesday, 23 January 2013 23:04

Spain praised for REIT overhaul

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Spain has been praised for its plans to overhaul the Real Estate Investment Trust (REIT) regime by the European Public Real Estate Association (EPRA)

REITs have been identified by EPRA as an effective way to recapitalise property after a crisis and, with Spanish real estate struggling to reverse falling values, it is hoped this will be just the tonic. Ireland, which has endured similar property woes, will also be overhauling its REIT system in 2013.

Philip Charls, chief executive of EPRA, stated: "The Spanish and Irish governments have realised that the best way to attract domestic and international capital into their real estate markets and so underpin banking systems that are laden with property debt, is to make the sector attractive to investors." REITs are capable of doing this and have demonstrated their efficacy in previous crises, including the US Savings & Loans dilemma in the early 1990s.

According to Mr Charls, REITS have also been effective in Europe, channelling investment into top quality energy efficient buildings for businesses, retail units and housing. France and the UK are just two examples of countries that have effective REIT structures in place. However, there are risks for countries using REITs and these must not be ignored. "They are effectively equities and can therefore be just as volatile," explained Darius McDermott, managing director at Chelsea Financial Services, a financial adviser, to the Financial Times.

Nevertheless, Spain is trying to make the system as secure and effective as possible, approving an amendment on December 20th 2012 to cut tax on profits to zero, so long as 80 per cent of earnings are given to investors. This brings Spain broadly in line with the rest of Europe and abolishes the flat tax regime, which was unattractive to investors.

Speaking to Property Investor Europe, Mayra Merchan, general manager of the Association of Spanish Rental Property Companies, claimed that the overhaul of REITs and potential influx of property investment could also help to create much needed jobs. With unemployment limiting the activity of domestic buyers in the property market, this will have positive ramifications across the board.

Source: EPRA

Last modified on Thursday, 24 January 2013 07:50
Nedbank Property Finance is a market leader in commercial property finance, enabling you to realise your property opportunities through a diverse range of financing solutions.

Listed Property, REIT, Real Estate Funds

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Office, Retail, Industrial, Hotels and Residential

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Green Building and Sustainability

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Prime located buildings in Cape Town & Pretoria sold on auction

December 12, 2016 Commercial Property Auctions eProperty News
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Increasing liquidity in Sub-Saharan Africa hotel real estate market

February 10, 2017 Africa, International Property News eProperty News
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