Learn how to Create Wealth through investing in property
According to the Department of Tourism, in 2013 tourism contributed 9.7% to the country’s GDP and accounted for in excess of 1.4 million jobs, while in 2012 tourism generated R93 billion, making an 11% contribution to GDP and a 10.3% contribution to total employment in South Africa.
In determining the value of a residential property, many factors are taken into account: size, age, and condition; number of bedrooms and bathrooms; views; proximity to desired services such as shops; crime statistics; school district; and zoning restrictions.
Private residences are being inundated with applications for student accommodation this year, amid shortages of residences at tertiary institutions.
In today’s world convenience and peace of mind are key priorities for many home buyers. This makes sectional title living a very desirable option, given that outside maintenance, insurance and sometimes water cost, forms part of the levy and is therefore taken care of.
There are many different Capital Gains Tax (CGT) theories and opinions, but when this tax is analysed, it is not so daunting or complicated. A person’s capital gain on an asset disposed of is the amount by which the proceeds exceed the base cost of that asset.
Property speculation is defined as buying property to resell it at a profit and it is regarded as a trade under South Africa’s tax regime.
In order to make an informed purchasing decision, you need to know what the market-related selling prices and rentals are. Since it is very difficult to be an expert on all types of properties in all areas, it is usually a good idea to decide on a niche you will target.
In today’s world, convenience and peace of mind are key priorities for many home buyers. This makes sectional title living a desirable option, given that outside maintenance, insurance and sometimes water costs form part of the levy and are therefore taken care of.